Private equity firm JC Flowers has finalised its acquisition of the French subsidiary of Italy’s Monte dei Paschi di Siena, marking the completion of a long-planned divestment as the bank continues its post-bailout restructuring, according to a report by Reuters.
The deal, announced on Tuesday, did not include financial terms. JC Flowers said it intends to reposition the business toward wealth management and expand its focus on partnerships with independent financial advisers, alongside niche lending products such as mortgages, Lombard loans, and other asset-backed financing solutions.
The French unit, which previously held around €1bn in assets, had largely paused new business activity pending the completion of the sale process. The transaction had originally been agreed in mid-2025, following an exclusivity arrangement approved by Monte dei Paschi’s board in 2024, but its closing was delayed into 2026 due to regulatory approvals.
The sale forms part of Monte dei Paschi’s broader restructuring commitments tied to its EU-approved bailout framework, under which the Italian lender agreed to reduce its international footprint after being rescued by the state in 2017 and gradually re-privatised between 2023 and 2024.
JC Flowers plans to rename the acquired unit as part of its strategic overhaul. The firm says it will leverage its banking turnaround experience to reposition the French operation within a more specialised, advisory-driven market model.
A spokesperson for JC Flowers described the acquisition as an opportunity to apply sector expertise to a full-scale transformation of the business, aiming to strengthen its position in the French financial services landscape.
