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It happened today: on 25 January 1563 the Compagnia di San Paolo was born in Turin

It was a Turin in the grip of a serious economic crisis when seven citizens decided to found the Company. The objective was twofold: to help the population in poverty and to stem the expansion of Protestantism. Today the Foundation, which manages assets of more than 8 billion euros, promotes cultural, civil and economic development

It happened today: on 25 January 1563 the Compagnia di San Paolo was born in Turin

Il 25 January of the 1563 was born in Turin for hand of seven citizens, the Compagnia di San Paolo. At the time the city and Piedmont were in a period of strong economic decline caused by the long wars between France and Spain.

The figure of Emanuele Filiberto of Savoy, who regained possession of the Savoy duchy in 1559 following the peace of Cateau-Cambrésis, proved to be fundamental in starting a political, military and cultural reorganization of the territory. In this context, the Compagnia di San Paolo was born with a double goal: to help the population burdened by poverty and stem the expansion of Protestantism.

Today the Compagnia di San Paolo Foundation is one of the oldest and largest private foundations in Europe, of banking origins. Its purpose is to promote cultural, civil and economic development. The Foundation is committed to three main objectives: culture, people and planet, divided into fourteen specific missions. Its action is mainly concentrated in the territories of Piedmont, Liguria and Valle d'Aosta, operating in the sectors permitted by the legislative decree of 17 May 1999, n. 153.

Il total assets of the Foundation as of 31 December 2023 amounted to 8,4 billion euros.

The first solidarity actions

The first actions of the Confraternity of the Catholic Faith are based on solidarity. This organization is mainly dedicated to home care, with a particular focus on nobles or fallen bourgeois.

In 1579, the Brotherhood establishes the Monte di Pietà to combat the usury that affects the weakest classes, offering small pawn loans. He is also dedicated tofemale assistance about a decade later, providing gifts through theestablishment of the Casa del Soccorso.

In 1595, however, establishes the Pious Office to help troubled people from different social strata, including disgraced nobles, impoverished merchants, orphaned girls, sick people and beggars. The Pio Office collaborated on construction of the church of SS. Martyrs and establishing the College of noble boarders. The latter deals with the education of young people from wealthy families and is now home to the Convitto Umberto I primary school and the Albergo di Virtue, oriented towards the professional preparation of beggars in the manufacturing and mechanical sectors.

Commitment over the centuries

Over the centuries, the Company of St. Paul has expanded its commitment. Towards the middle of the seventeenth century, the Confraternity promoted theopening of the Charity Hospital and in the following century, provides financial support toPazzi Hospital, currently used as a headquarters for registry, civil, demographic and electoral services.

La Depot House, established in 1683 to welcome and assist women of all conditions and ages, underwent a progressive transformation into a educational institution.

Thanks to the bequests of Piedmontese families, the increase in the Company's assets determines aintense financial activity, reaching its peak in the mid-eighteenth century.

Suppression and rebirth

With the annexation of Piedmont to France in 1802, the Compagnia di San Paolo was suppressed, being replaced by public bodies and in 1804 the Monte di Pietà was reorganized by the Napoleonic government following the model of the Monte di Paris, accentuating its credit character.

The Restoration sees the rebirth of the Company, which after having been reinstated in his duties in 1814, he took over the management of the interest-based Monte di Pietà and the free Monte di Pietà. Between 1824 and 1851, the Company also dedicated itself to provide health services to the indigent, offering basic and specialist medical care.

The Savoy State reduces activities

In 1853, the State of Savoy limits activity of the Compagnia di San Paolo to religious practices. The assets and the management of welfare and credit activities are entrusted to a publicly appointed council, called Opere Pie di San Paolo (subsequently Istituto di San Paolo). This council developed the banking activity through Monte di Pietà, which over the years transformed into a real bank.

In 1867, the Compagnia di San Paolo takes over the operation of Credito Fondiario, contributing to the banking sector in conjunction with land reforms and increased urban construction. During the period of industrial growth in Turin, the institute supports infrastructure development and municipalization of services through loans to the Municipality and the Province. It finances the creation of the Institute of Social Housing and participates in new financial bodies such as the Consortium for grants on industrial values ​​and the Federal Institute for Agricultural Credit in Piedmont.

The institution, now called Pie Works of San Paolo in Turin, continues the activities of the Pio Office and the Duchess Isabella Educator, renamed in 1883 from the Case del Soccorso e del Deposito. At the end of the XNUMXth century, the headquarters of the Duchess Isabella Educatorio was built following the most up-to-date school building criteria of the time, providing education to young people from primary school to secondary school.

Activities in the twentieth century

In 1907, the Company financed the creation of the initial capital of the Institute of Social Housing. Subsequently, it contributes to the financing of the construction of the new headquarters of the Maggiore San Giovanni Battista Hospital "Molinette“, which was completed in 1935.

In the 1930s, the Istituto Opere Pie di San Paolo in Turin experienced a remarkable growth as a banking institution. In 1931, with theacquisition of the deposits of the Italian Agricultural Bank by Riccardo Gualino, expands its structure, previously limited to the city, to Piedmont and Liguria. In 1932, it obtained the status of public law credit institution and changed its name to Institute of San Paolo Turin. After the enactment of the racial laws in 1938, the Credito Fondiario del San Paolo was responsible for managing, mainly in Piedmont and Liguria, the real estate properties seized from the Jews. Subsequently, with the entry into war, he also dealt with the properties of foreigners of enemy nationality.

After the Second World War, the San Paolo Banking Institute of Turin takes on a significant role of post-war reconstruction. With territorial expansion, credit diversification, and entry into the ECU market, the institution lays the foundation for its expansion nationally and internationally. In 1950, it took the name of San Paolo Banking Institute of Turin and becomes one of the most important European banking groups.

The Compagnia di San Paolo Foundation is born

In 1991, the “Amato-Carli” law introduces a new regulatory framework that leads to separation between commercial credit activities, entrusted to a joint-stock company, and the philanthropic activities, managed by the body that recovers the name of Compagnia di San Paolo. In 1992 the Company thus became a Foundation.

The value of the banking assets becomes the philanthropic assets of the foundation. At the beginning of this transformation process, the Company's assets were mainly composed of the shares of the San Paolo Banking Institute. However, over the course of approximately thirty years, following the evolution of the bank and the Company's investment decisions, the assets diversified, including a stake in Intesa San Paolo (6,7% of the banking group's shares, making the Company the largest single shareholder) and other various assets, which constitute two-thirds of the total assets.

The Company today

The Compagnia di San Paolo is currently one of the main philanthropic foundations in Europe, with a private law status, regulated by its Statute adopted in March 2000. It is associated with ACRI (Association of Foundations and Savings Banks Spa) and a member of the European Foundation Centre, the association of the main European foundations.

His mission is promote civil, cultural and economic development of the communities in which it operates, pursuing objectives of public interest and social utility.

In 2020, the Foundation presented a new organization focused on three objectives – Culture, People and Planet – and fourteen missions, aligning with the United Nations Sustainable Development Goals defined in the 2030 Agenda. This transformation was highlighted by an update of the logo, accompanied by the motto “Since 1563, the common good”, which reflects the continuous commitment of the Foundation since its inception.

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