12.10.2015 - Renzi revives Italy’s EUR410bn wealth fund
The latest outpost of Matteo Renzi’s revolution is a smart conference room in Milan where two of Italy’s best-known bankers sit shoulder to shoulder. These are the new headquarters of the Cassa Depositi e Prestiti, the country’s €410bn sovereign wealth fund. The 40-year-old Italian prime minister is hoping to blow the dust off the 165-year-old CDP by bringing in Claudio Costamagna, former chairman of Goldman Sachs in Europe, and Fabio Gallia, who was chief executive of BNP Paribas in Italy, and giving them a free hand to spur investment. “The mandate we’ve got is to do things that are in the context of creating and sustaining the growth of the economy,” says Mr Costamagna, 59, describing his arrival in August — and that of 52-year old Mr Gallia — as “an accelerator”...............................................Full Article: Source
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