October 2026
Largest Investment Banking Public Companies in Italy
Benchmark revenue and EBITDA valuation multiples for public comps like
UniCredit, Mediobanca, Equita Group, Diadema Capital and Ambromobiliare.
 | UniCredit is a pan-European banking group headquartered in Milan, with retail, corporate, investment and private banking operations in Italy, Germany, Austria and Central and Eastern Europe. The group was formed in 1998 through the merger of Credito Italiano and Unicredito and traces its origins to Banca di Genova, founded in 1870. It operates in Germany through HypoVereinsbank and in Austria through Bank Austria, and serves more than 15 million clients. UniCredit is listed on the Borsa Italiana and the Frankfurt Stock Exchange. It reported revenue of EUR 24.8 billion and net income of EUR 9.7 billion in 2024. Its acquisitions include HVB in 2005, Capitalia in 2007, Aion Bank and Vodeno in 2025 and its Italian life insurance joint ventures, and it has built stakes in Commerzbank and Alpha Bank. Andrea Orcel is chief executive. | $86 | +15% | $129B | $129B | 4.6x | - | ||
| Mediobanca SpA is a specialized financial group operating in Wealth Management, Corporate & Investment Banking, and Consumer Finance in the Italian market. It operates through four divisions: Wealth Management, which provides savings products and investment and wealth management services; Corporate & Investment Banking, which provides financial advisory services and capital markets transactions; Consumer Finance, which offers personal loans, credit cards, salary-backed loans, and HeyLight BNPL solutions; and Insurance & Principal Investing, which manages equity investments including Assicurazioni Generali. Holding Functions support Group operations. The majority of revenue comes from Consumer Finance. | $29 | +51% | $23B | $23B | 6.1x | - | ||
| Equita Group is an Italian independent investment bank listed on the Euronext STAR Milan segment, with its roots in the EQUITA SIM brokerage founded in 1973 and a group structure established in 2015. It acts as broker, financial advisor and alternative asset manager for investors, institutions, listed companies, corporates and entrepreneurs. The group runs sales and trading, equity capital markets, M&A and debt advisory, research, and an alternative asset management arm that includes EQUITA Capital SGR, private debt, infrastructure and ELTIF strategies. It reported net revenues of 111.7 million euros and net profit of 24.3 million euros for 2025. Its managers hold the largest stake through a shareholders pact, and Iccrea Banca became a shareholder with about 15 percent in September 2026. The group has grown by buying advisory boutiques including K Finance, CAP Advisory and Sensible Capital, and agreed in March 2026 to buy Xenon Private Equity. | $7 | +2% | $373M | $373M | 2.6x | 7.7x | ||
| Diadema Capital is an Italian company based in Milan, formerly named Finance For Food, that provides independent corporate finance and strategic and industrial consulting. It advises on mergers and acquisitions, IPOs, club deals and debt and equity placements, and it began in agri-food advisory before extending into renewable energy and venture capital. Its Finance For Food One fund, launched in 2019, has been managed by Hyle Capital Partners since March 2021. The company is a benefit corporation and was listed on Euronext Growth Milan until its shares were delisted in June 2026. Between November 2024 and November 2025 it took control of the consultancy D&P, first through a 51% stake, then 80% and finally the whole company, and in January 2026 Diadema and D&P merged. Its chief executive is Luca Perconti, and revenue in 2024 was about 1.46 million euros in its asset management segment. | -- | -- | $11M | $11M | - | - | ||
| Ambromobiliare is an independent financial advisory firm founded in 2005 by two groups of professionals with long experience in corporate finance. It has been listed since 2011, first on AIM and now on Euronext Growth Milan, and says it has advised on more than 60 IPOs on that market. Its business areas are equity capital markets, financial advisory and structured finance, aimed at small and mid-sized companies. In 2014 its team created 4AIM SICAF, the first investment company focused on the Euronext Growth Milan market. In 2026 it took control of MIT SIM and 4AIM SICAF after Bank of Italy authorisation, forming Gruppo Ambromobiliare, an investment banking group for small-cap companies. | $0 | -58% | $1M | $1M | 1.0x | (2.7x) | ||
| Median | $18 | +9% | $373M | $373M | 3.6x | 2.5x |
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