Cdp, Draghi appoints Scannapieco at the top of Cassa Depositi e Prestiti- Corriere.it

Sar Dario Scannapieco the new CEO of Cassa Depositi e Prestiti, financial arm of the Treasury and fundamental hub for the realization of the Pnrr, the recovery plan to use the more than 200 billion allocated to Italy by the EU. Wednesday the Prime Minister, Mario Draghi, and the Minister of Economy, Daniele Franco (Cdp owned for 82.77% by the Treasury and the rest by the banking foundations), they met at Palazzo Chigi and agreed to change the CEO: he exits Fabrizio Palermo, wanted in 2018 by 5 stars, enters Scannapieco, 53, from Rome, whose professional life has crossed that of Draghi since 1997, when the then director general of the Treasury called the thirty-year-old economist graduated from Luiss, just back from a master’s degree at Business School di Harvard, as a consultant to the ministry then engaged in privatization, under the direction of Draghi himself and the minister of the time, Carlo Azeglio Ciampi.

–

The new board of directors of Cdp

The Ministry of Economy and Finance has indicated the following names for the appointment of the new Board of Directors of Cdp: in addition to Dario Scannapieco, Fabiana Massa Felsani, Anna Girello Garbi, Giorgio Toschi (former commander general of the Guardia di Finanza from 2016 to 2019), Livia Amidani Aliberti and Fabrizia Lapecorella. The Ministry of Economy, as the note states, also supported, within a single list, the names designated by the Foundations, or Giovanni Gorno Tempini (president), Matteo Melley and Alessandra Ruzzu.

–

Alla Bei

Returning to the new CEO of Cassa Depositi e Prestiti, the fundamental experience for privatizations led Scannapieco to be appointed, in 2002, General Manager Finance and Privatization of the Treasury by the minister Giulio Tremonti. Finally, in 2007, he joined the EIB, the European Investment Bank, the financial arm of the EU, as vice president. From Luxembourg, Scannapieco led the implementation of the Juncker Plan for the relaunch of investments in Europe, a sort of mini Recovery plan (worth 316 billion), in the double role of vice president Bei and president of the EIF, the European Investment Fund, controlled by the Bank itself, dedicated to small and medium-sized enterprises.

–

Making the Pnrr

Internal experience, therefore, and international. Which represents in the eyes of Draghi and Franco a factor on which to leverage for the ambitious tasks that await the CDP in relation to the phase of renewed public investments that will open with the Pnrr. The last great opportunity for Italy was defined by Scannapieco himself in a recent press conference, while at the hearing in Parliament he insisted on the need to have projects and initiatives ready and in line with the evaluation criteria of the EU, suggesting to start with what can already be built. Scannapieco, whose name had already been mentioned when Draghi, as president in charge, was forming his team, in short, completes that team of the prime minister’s trusted men who will be protagonists in the realization of the NRP.

–

Postal savings

But as chairman of CDP, a giant that collects 265 billion in postal savings and holds investments for a value of over 34 billion (from Sace to Fintecna, from Snam to Terna, from Eni to Poste), the new one will also have to deal with dossiers very delicate, from the acquisition of Aspi from Atlantia (a story still open almost three years after the collapse of the Morandi bridge) to the increase in the stake in Open Fiber (up to 60%) for the construction of broadband. The president of CDP, Giovanni Gorno Tempini, designated by the banking foundations, will remain in his place.

–

Heritage relaunch

On Wednesday, meanwhile, the Cassa’s assembly approved the constitution of Patrimonio Relaunch, the extraordinary and temporary instrument, fed by the Treasury. The measure aimed at Italian companies with turnover above 50 million euros, which will be able to strengthen their capital structure thanks to a portfolio of interventions, with limited impacts on governance, such as hybrid capitalization instruments and capital increases, explains Cdp.

–