Crt, the sensational Unicredit-Bpm alliance is approaching
Fabrizio Palenzona is the new president of the Crt. Foundation: “My ambition is to bring all the foundations together as a team, bringing together those values that characterize the territory, in a moment that is increasingly delicate for the increase in social unease”, the first words of the banker in an interview with Repubblica in the aftermath of the vote which saw Palenzona prevail over Giovanni Quail. The manager, however, albeit with discretion, has relaunched the hypothesis of one Unicredit merger Banco Bpmwith the Crt Foundation shareholder of both the banks. “Twenty years ago the then CEO of Unicredit, Alessandro Profumo, sent me to the president of Bpm Bassi, to propose him a friendly takeover bid in cash, at double the stock market prices at the time. Profumo’s idea was to strengthen Unicredit in Lombardy, where there was a deficit for the bank vs other areas in Italy“.
“Twenty years later – Palenzona continues in Repubblica – I understand that that deficit is still there, and therefore remains there strategic value of the operation”. Palenzona then explained that he knows both Andrea well Orcel be Joseph Chestnut“that they are two very good managers and it is up to them to decide the strategies of Unicredit and Bpmcertainly not to the shareholder”. Regarding the choice to take the field for the Foundation, Palenzona recalled that “it is from 1995 I work in this sector, and let me tell you that Doctor Quaglia is mine amico and did a great job. I took the field out of a sense of responsibilitywhy I was asked and also why months ago I tried unsuccessfully to mediate and sense of unease“.
Subscribe to the newsletter