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Mediobanca hires veteran to grow corporate, investment banking

Reuters - UK Focus

MILAN, Dec 3 (Reuters) - Italy's Mediobanca (MDD: MB.MDD - news) has hired a veteran banker to strengthen the corporate and investment banking business it hopes to grow rapidly over the next three years.

Stefano Marsaglia will join Mediobanca's office in London, where he currently works for Barclays (Other OTC: BCLYF - news) after 17 years at independent investment bank Rothschild.

Mediobanca said on Tuesday it wanted to increase the wholesale revenues it makes from corporate and investment banking by 30-45 percent by the end of 2016.

The investment bank, which has sat at the centre of a web of corporate holdings since it was founded in 1946, aims to make London the hub for its capital markets business.

Marsaglia's appointment "confirms Mediobanca can attract experienced bankers to support its international expansion," said one banking sector analyst who asked not to be named.