BlackRock (BLK) is partnering with Intesa Sanpaolo Private Banking to offer digital wealth management services to private bank clients in Europe, the Italian bank company said Monday.

Building on Intesa's digital channels, the companies plan to provide brokerage and hybrid advisory services, along with portfolio management, to the bank's more affluent customers.

The rollout will begin in Belgium and Luxembourg -- where Intesa said they already have identified several growth opportunities -- before expanding into other European markets over time.

BlackRock will bolster services for customers through its investment expertise and technological capabilities, Intesa said, without providing financial or other details of the new partnership.

Intesa Sanpaolo is a subsidiary of Intesa Sanpaolo Group

Price: 1052.02, Change: +12.74, Percent Change: +1.23