Luigi Lovaglio
CEO, GM & Director
Good morning. Thank you for joining us. Today, we are presenting not only two transactions, we are presenting a vision. Over the last years, Monte Paschi has completed one of the most remarkable transformations in European banking. We restored profitability, we rebuilt capital strength, we regained strategic freedom. Through Mediobanca, we added capabilities in corporate and investment banking, wealth management, consumer finance, and advisory.
The question before us is, therefore, not how to become larger. The question is how to become more relevant. And today, we have the opportunity to take the next strategic step. That’s why we are here to present two voluntary public exchange offers for Banco BPM and Banca Generali. They are legally separate transactions, but they form one coherent industrial project: the creation of an elevated national champion across banking, advisory, and wealth management.
The project will bring to a strong and comprehensive Italian financial platform, bringing together a unique combination of complementary strengths: commercial banking, corporate investment banking, wealth management, and also insurance capabilities.
All of them integrated within a single industrial platform. The uniqueness of this transaction does not stem from scale alone; it stems from bringing together capabilities that today coexist within few institutions in Italy.
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