Sanpaolo IMI

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Sanpaolo IMI
Type Public
Industry Bank, Insurance
Fate In 2007, merged with Banca Intesa to form Intesa Sanpaolo
Founded 1563 as Compagnia di San Paolo
Headquarters Turin, Italy
Key people Alfonso Iozzo, CEO
Enrico Salza, Chairman
Revenue 9.726 bn (2004)
Employees 44,000 (2006)
Website Gruppo Sanpaolo IMI

The Gruppo Sanpaolo IMI was one of Italy's major banking and insurance groups, based in Turin. It employed about 44,000 people and had about 7 million customers.

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.

Activities[edit]

Sanpaolo IMI had about 3,200 local offices where private, business and retail banking activities take place. It also managed savings and retirement funds.

Management[edit]

The last CEO of Sanpaolo IMI was Alfonso Iozzo, the last president was Enrico Salza. In 2006, its main shareholders were the Compagnia di San Paolo and Banco Santander.

External links[edit]