Banca Leonardo, the advisory boutique launched last year by Gerardo Braggiotti, has agreed its second acquisition in barely a fortnight in a move that will boost the fast-growing group's Italian capital markets capabilities.

Leonardo said in a statement it has struck a deal with Allianz, one of its founding shareholders, to acquire the German insurer's Rasfin Sim subsidiary, which focuses on capital markets, corporate finance and private equity advisory.