Intesa Sanpaolo revamps its governance structure

Italy’s biggest bank Intesa Sanpaolo Group has confirmed a number of changes to its governance structure.

The management board of the bank has increased to up to 11 the number of its members, with up to four executive directors.

They will have stronger powers within the management structure.
The bank also confirmed the appointment of three senior managers who will join the staff of Enrico Cucchiani (pictured), managing director and chief executive at the Italian bank.

The team will consist of Silvana Chilelli, previously at JP Morgan and Merrill Lynch in New York; Ilaria Romagnoli, former head of Mergers & acquisitions financial institutions Europe at Rothschild and Tomas Spurny, former chief executive of Central and Eastern European banks and with previous experience at Manufacturers Hanover.

The staff will support the CEO in strategic projects and assist in managing developments within the Intesa Sanpaolo Group.

Cucchiani said last week that the bank would continue to buy Italian government bonds to support the economy, with no changes in the bank’s investment policy after the European Central Bank’s announcement.