Change at the top and new governance in the Change Bank 1884, the main independent bank in Tuscany, heir of the oldest cooperative credit bank in Italy and the only Italian bank to leave the cooperative world in 2016 to transform itself into an independent joint stock company in the wake of Renzi reform. After 26 years the era of the ends due to age limits General Manager, Francesco Bosio, 76 years old, who resigned in recent days and who will remain in the history of the institute for having transformed it from a "bank" of Castelfiorentino into a spa which represents one of the largest independent banking realities in the Toscana with 350 employees and 44 branches, 25 of which are in the province of Florence, plus one in Bologna, one in Turin, and one in Rome.
In spring he will also leave the President Paolo Regini, who, together with Bosio, supported Cambiano's development, and – at the suggestion of the Bank of Italy – the governance will be renewed with the addition of three independent directors to the Board of Directors and the appointment of a new Board of Auditors. The new General Management will be chosen in January, temporarily entrusted to the regency of Deputy Director of Federica Paoletti.
Bosio and Regini leave behind a bank in excellent health, which will close 2025 with a net profit of €7-8 million, total assets of approximately €4,5 billion, direct deposits growing by 2%, substantially stable lending, and company assets of €296 million. But their legacy, beyond its solid financial position, accompanied by perfectly healthy accounts certified by the central bank, is primarily represented by the bank's steady growth since its separation from Federcasse in the 80s, in the name of independence and entrepreneurship. It also represents a new banking model, deeply rooted in the local community, committed to supporting the real economy and shunning financial games, and characterized by a highly open relationship with its customers, which has continued to grow over the years.
It will be up to the successors and protagonists of the new era to defend the uniqueness of Banca Cambiano 1884, adapting it to the changing times and always making autonomy the hallmark of a bank that comes from afar and has managed to navigate a thousand transformations without losing its fundamental connection with the local community.
