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The
board of directors nomination is on progress in order to renew the top
management of the Fondazione Cariplo. After many years of unopposed
power, the renewal of the Presidency of Giuseppe Guzzetti is other but
sure. To control de body this time the Centre-Right is in the field
with remarkable chances, since the nomination mechanism involves municipalities
and provinces where the Polo won and whose indications, therefore, controls.
At a first sight the “battle” seems the usual sickening fight for power.
But the body holds - among others - the 9,9% of the Banca Intesa’ capital,
first Italian bank group. The body’s portfolio lists in, further, the
2,8% of the S. Paolo-IMI, and the 1,2% of the Generali. The Guzzetti
management, for example, shared - maybe some passively- the Banca Intesa’s
strategies. It’s expedient to remember that this “evolution” led to
the disappearing of the “Cà de Sass” as an autonomous banking structure
and the reorganization of Comit, whose role changed, cancelling its
historical experience. As many shareholders in the early meetings of
Intesa underlined, the new organization decisions seem to favour the
Crédit Agricole that, by 15%, is the first shareholder of Intesa. A
control of the Fondazione, different from the current one, could - but
it is not sure - lead to a different strategy for the Gruppo Intesa
by a greater option toward the territoriality of the controlled institutes
and the reassessment of hegemony till now attributed to the French component
mainly in the international activity. The same important is the role
the Fondazione may play in the S. Paolo - IMI. A different management
could for example concur to improve - by cancelling the reassessment
- the activity of the Banco di Napoli; for example it could promote
the Torinese Group to a higher tendency to risk by urging investments
in the sector where the S. Paolo is very “restrained”. The duo Arcuti-Masera
in the investment management is someway influenced by the activity carried
out in the IMI, from where they come, skilled in mortgage guarantee
‘substantial’ investments. The match on progress between the current
holders of the power led by Giuseppe Guzzetti and the climbers headed
by Bruno Ermolli deserves being attended attentively for the consequences
that could derive. The conflicting trend of the Intesa security at the
stock exchange is an indication of prudence by investors waiting to
know who will sit in the Fondazione Cariplo control room.
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