credito fondiario ( fonspa )
following the banking sector deregulation reform, which removed the banking specialization by law, the bank changes its name to “credito fondiario e industriale – fonspa – istituto per i finanziamenti a medio lungo termine”, and once again extends its activities, to include mid - to - long term industrial financing .
credito fondiario, with over 120 years of history, is an independent bank specialised in the investment, management and servicing of credit assets and portfolios, both performing and non performing. credito fondiario offers its products and services to other financial and banking institutions as well as to international institutional investors focussing on the secondary credit market .
established in cagliari, sardinia on 28th april 1898 and named credito fondiario sardo (sardinian land bank), the bank specialises in mortgage lending in both sardinia and the rome area .
at the end of 2013 tages holding and the new top management team acquire the bank from morgan stanley, recovering the historical name of credito fondiario and reaching a leadership role in the newly created secondary credit market in italy .
in the wake of wwii, credito fondiario sardo is an active player in the rebuilding of the country. the bank broadens its coverage to a national level, including in its activities public sector financing and industrial real estate backed lending .
by virtue of an experience and track record built across 3 centuries, credito fondiario is now a key market player in the credit market in italy, acting as servicer, credit manager and investors and co - operating as partner of choice with both banks and institutional investors .
credito fondiario is controlled by tages holding and is part of the banking group tages group. the top management team own altogether a minority stake in the bank. in 2016 a leading institutional investor has subscribed a dedicated capital increase of the bank, thus becoming a minority shareholder .
the bank enters the “iri network” (institute for industrial reconstruction, a public sector conglomerate), and is ultimately controlled by the three nationwide retail banks it owns: banco di roma, comit and credit (1960). in 1965 the bank‘s name is shortened to credito fondiario .
the bank faces another change of mission following the acquisition by msref - t (a us - law real estate fund managed by morgan stanley) in 2000, refocusing its activities on securitisation products and services (the securitisation market in italy is introduced in 1999 with law 130). in 2006, morgan stanley acquires direct control of the bank and relaunches its retail mortgage lending business. the bank is rebranded “credito fondiario – fonspabank” .
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morgan stanley (nyse: ms) announced today that it has acquired citymortgage bank, a leading moscow - based mortgage bank that specializes in originating, servicing and securitizing residential mortgage loans in the russian federation. terms of the transaction were not disclosed .
“morgan stanley is committed to russia and since 1994 has been aggressively building a market - leading m & a and capital markets business, ” said rair simonyan, morgan stanley’s country head for russia. “participating in the fast - growing mortgage market represents an important expansion of our russian franchise. ”
“we are very excited about the capabilities morgan stanley will provide, ” said nicholas chitov, ceo of citymortgage bank. we will gain access to global best practices in securitisation structuring, distribution and systems. in addition, their strategic vision is very much aligned with management' s own ambitious growth plans for the bank. ”
morgan stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services. the firm' s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 30 countries. for further information about morgan stanley, please visit urltoken .
citymortgage bank (cmb) is a leading specialist mortgage bank in the russian federation. the bank was formed with the participation of rosgosstrakh, the leading russian insurance company, and started mortgage operations in moscow in march 2004. currently cmb operates in 12 regions of the russian federation. since its inception, cmb has originated more than us $ 300 million in russian residential mortgages .
morgan stanley has a strong presence in the global rmbs markets and has a comprehensive mortgage origination and securitization platform. the firm’s strategy is to build a global, vertically - integrated residential mortgage business. underlining the firm' s commitment, morgan stanley has made a number of acquisitions as part of building its mortgage platform :
in december 2005, the firm purchased advantage home loans, a u. k. based mortgage packager .
contact: media relations, erik portanger, + 44. 20. 7425. 8425
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the bank’s shares are listed on the milan stock exchange. they would be delisted only in 2001, after a change of ownership .
deposit certificates placed with retail investors throughout the country are a key funding source for the bank .
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the tages group is an international investment firm active in asset management and banking, headed by tages holding, a company controlled by its founding partners. the tages group comprises also :
a milan - based asset manager focussing on infrastructure funds and other long - term investment solutions for italian institutional investors .
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credito fondiario s.p.a. is an italian bank based in rome , italy . the bank is specializing in management of non-performing loans . chairman of the board of directors was piero gnudi . 
credito fondiario s.p.a. is an italian bank based in rome, italy. the bank is specializing in management of non-performing loans. chairman of the board of directors was piero gnudi.
credito fondiario s.p.a. is an italian bank based in rome, italy. the bank is specializing in management of non-performing loans. chairman of the board of directors was piero gnudi.