The Shareholders' Meeting of Arca Sgr approved the Company's financial statements which closed on 31 December 2013 with commission income of 210,7 million, up on the 174,7 million recorded in 2012; commission expense, on the other hand, amounted to over 144,5 million (against 119,2 million in 2012). In 2013, the Company recorded an Ebitda exceeding 31,4 million (up compared to 19 million in 2012) and a profit for the year which – including the accounting impact on taxes for the liberation of Carige SGR – was also at 31,4 million, up on the figure recorded in 2012 (17 million).
The Shareholders' Meeting resolved to allocate all profits to reserves, favoring the strengthening of the Company's capital. The Shareholders' Meeting appointed the new Board who will remain in office for the three-year period 2014-2016: Guido Cammarano, Ugo Loser, Edoardo Rossini, Andrea Piazzetta, Mario Erba, Renato Merlo, Filippo Maria Cova, Felice Angelo Panigoni and Paolo Guzzetti.
The Shareholders' Meeting also appointed the Board of Statutory Auditors for the three-year term by appointing Giuseppe Marino as Chairman, Giovanni Sandrini as Standing Auditor, Stefano Santucci as Standing Auditor, Bruno Garbellini as Alternate Auditor and Diego Xausa as Alternate Auditor. In its first session, the Board of Directors confirmed Prof. Guido Cammarano and Chief Executive Officer dott. Hugh Loser. There was strong growth in overall net inflows for the first four months of 2014, amounting to over 800 million, against the 145 million recorded in the same period of 2013 and overall net inflows in 2013 of over 1,2 billion.
