The story
1919 – Credito Italiano established Banca Unione di Credito in Switzerland.
1947 – The Fiat Group acquired the entire share capital to make BUC its house bank.
1984 – BUC established a subsidiary in Zürich.
1990 – BUC established a representative office in Argentina.
1991 – BUC established a subsidiary in Geneva.
1993 – BUC acquired Overland Bank, also based in Lugano, and doubled in size.
1994 – BUC established a subsidiary, Banca Unione di Credito (Cayman), Grand Cayman.
1995 – BUC held about 8% of a stockbroker and fund management bank (SIM) in Turin, Banca Patrimoni e Investimenti, which is the result of the merger of Gestnord Intermediazione SIM and Sella Investimenti Banca.
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2002 – BUC acquired a 26% stake in Lombard Bank Malta plc, Valletta, the third largest bank in Malta, to become Lombard's largest shareholder.
2006 – Banca della Svizzera Italiana (BSI) acquired Banca Unione di Credito. BSI is also based in Lugano and is a subsidiary of the Italian insurer Assicurazioni Generali. Fiat sold BUC both to raise capital and to focus on its core automotive business.
From Wikipedia’s article on Banca Unione di Credito, shared under CC BY-SA 4.0.3