Andorra la VellaThe regulatory bodies in Spain and Andorra have approved the operation by virtue of which the MoraBanc Group acquires a stake greater than 75% of the shareholding of Tressis Sociedad de Valores SA. With the entry into the group of the Spanish securities company, MoraBanc makes a quantitative and qualitative leap in its business volume, reaching 18,000 million euros in assets under management, 8,000 in Andorra and 10,000 with its international business
Lluís Alsina, CEO of the MoraBanc Group, emphasizes that “the acquisition of Tressis is a firm step in the Group’s desire to grow in Spain, after creating MoraWealth in 2020 and awaiting approval by the regulators of the purchase of the European Finance Bank”.
Once the transaction with Tressis has been formalized, the MoraBanc Group will manage EUR 7,500 million in assets in the Spanish market, which it entered in 2020 with the MoraWealth brand. The rapid growth of the MoraBanc Group has been possible thanks to the excellent financial results of recent years and a high level of solvency.
Joan Maria Nin, president of the new Tressis Board of Directors
The change of shareholders is accompanied by the renewal of the Tressis Board of Directors, which will be chaired by Joan Maria Nin, also president of the MoraBanc Group. Lluís Alsina Álvarez, CEO of MoraBanc, Marc Mora Guerin, Francesc Xavier Maymó Gatell, Rita Estévez Luaña and Rosa Bruguera Brasó join as new directors.
Tressis is one of the most recognized securities companies in Spain. Founded in 2000, it manages a client portfolio of more than 6,800 million euros (December 2023 data) and is present in 14 Spanish cities. MoraBanc values the current business model of Tressis, which will not change, and will maintain the current management team with José Miguel Maté, CEO.