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We transparently work to carry out our institutional mission of supporting and promoting Italian development policies, all the while acknowledging the importance of the task at hand

The Board of Directors guides and directs the Group's activities, with the support of internal Committees and the supervision of control bodies. The management team defines and implements operational plans, using results  from daily work to implement projects and long-term visions

The Board of Directors, responsible for the management of the company and the definition of the group's strategy, was appointed July 24th, 2018 by shareholders The Board consists of nine members and is integrated, for the management of resources from postal savings (Separate Management), the Director-General of the Treasury, by the Accountant General of the State, three representatives of the regions, provinces and municipalities, and a magistrate of the Court of Auditors
Complementing the Governance Board of Auditors, are the Parliamentary Commission supervisory and Support Committee of minority shareholders
The Board is supported in its decisions by four internal committees with consulting and advisory functions

Board of directors

Massimo Tononi


Fabrizio Palermo

Chief Executive Officer

Luigi Paganetto

Vice Chairman

Fabrizia Lapecorella


Fabiana Massa Felsani


Valentino Grant


Francesco Floro Flores


Matteo Melley


Alessandra Ruzzu


Davide Carlo Caparini

Director (Separate account)

Antonio Decaro

Director (Separate account)

Alessandro Rivera

Director (Separate account)

Pier Paolo Italia

Director (Separate account)

Achille Variati

Director (Separate account)


Alessandro Tonetti

Secretary of the Board of Directors

Giorgio Righetti

Deputy Secretary of the Board of Directors

Management Team
Fabrizio Palermo
Chief Executive Officer and Chief Financial Officer
Salvatore Sardo
Chief Operating Officer
Alessandro Tonetti
Chief Legal Officer
Pierfrancesco Latini
Chief Risk Officer
Antonella Baldino
Chief Business Officer
Leone Pattofatto
Chief Strategic Equity Officer
Carlo Baldocci
Head of Public Affairs
Vladimiro Ceci
Chief Audit Officer
Guido Rivolta
CEO CDP Equity
Alessandro Decio