Intesasanpaolo: Enrico Cucchiani has been appointed new CEO of the group in place of Passera

Enrico Cucchiani is the new CEO of Intesasanpaolo. He was proposed by the Supervisory Board of the group, chaired by Giovanni Bazoli and meeting this afternoon in Turin, with the Management Board, called to implement the appointment.
The former top manager of Allianz takes the place of Corrado Passera, who became superminister of the Monti government for Development, Infrastructure and Transport. The appointment sounds like a success for Bazoli who wanted to mark a discontinuity with the previous management of the bank by calling a manager of high international standing to the CEO chair who can help Intesa grow abroad as well.
In a few months, the two major Italian banks – which for years have lived on the long-distance duel between Alessandro Profumo and Corrado Passera – profoundly renew their top management and launch a new season called to manage all the difficulties of the crisis. It will now be a question of seeing whether Cucchiani will soon also provide, as they did in Unicredit, to field a broad writeoff of the bank in via Monte di Pietà.