|Fate||In 2007, merged with Banca Intesa to form Intesa Sanpaolo|
|Founded||1563 as Compagnia di San Paolo|
|Alfonso Iozzo, CEO
Enrico Salza, Chairman
|Revenue||€ 9.726 bn (2004)|
Number of employees
|Website||Gruppo Sanpaolo IMI|
On August 24, 2006 a merger with Banca Intesa was announced, which on 1 December 2006 was approved by the joint meetings of the shareholders of Banca Intesa and Sanpaolo IMI. On 2 January 2007 the merger went into effect, thereby creating Intesa Sanpaolo, now the largest Italian bank and one of the largest in the Eurozone.
The new banking company based in Turin and is administered under the "two-tier model", with the presence of a Supervisory Board and a Board of Management. This was the first application of this model in a major Italian company.
Sanpaolo IMI was formed by many merger of banks. In 2002, the group merged with Cardine Banca, a short lived holding company that consist of Carisbo, Cassa di Risparmio di Padova e Rovigo, Cassa di Risparmio di Venezia, Banca Popolare dell'Adriatico.
Sanpaolo IMI had about 3,200 local offices where private, business and retail banking activities take place. It also managed savings and retirement funds.
Before the merger the following banks were the subsidiaries of the group:
- Banca dell'Adriatico
- Cassa di Risparmio del Veneto
- Cassa di Risparmio di Venezia
- Carisbo – Bologna
- Neos Finance
Before the merger, on 31 December 2005 the shareholder were (ordinate and preference shares):
- Compagnia di San Paolo 14.22%
- Banco Santander 8.44%
- Fondazione Cassa di Risparmio di Padova e Rovigo 7.04%
- Fondazione Cassa di Risparmio in Bologna 5.55%
- Giovanni Agnelli e C. 4.97%
- Assicurazioni Generali 2.00%
- Mediobanca 1.75%
- Morgan Stanley 1.75%
- Banca Monte dei Paschi di Siena 1.51%
- Reale Mutua di Assicurazioni 1.50%
- Groupe Caisse d'Épargne 1.50%
- Ente Cassa di Risparmio di Firenze 1.50%
- Fondazione di Venezia 1.47%
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