Banca Esperia chief executive Andrea Cingoli said he aims to increase the private bank's assets under management by over €1.5bn in 2011, after booking a 14% rise in 2010 to €12.7bn.

Banca Esperia, a Milan-based private bank jointly controlled by Italian investment-to-online bank Mediobanca SpA and asset management company Mediolanum SpA, is also planning to continue strengthening its operations by hiring private bankers. "We are making targeted investments in Northern Italy," Cingoli said.