Del Vecchio's move is typically "cucciana", there is no strategic breath, only a mix of money and power. Banally you buy Mediobanca chocolate egg to treat yourself to the "surprise" that Assicurazioni Generali has in its belly. Ruggeri's Cameo
Many years ago I happened to visit the Church of the Ottimati in Reggio Calabria (some call it Santa Maria Annunziata). It takes its name from the Crypt of the Ottimati, and my companion, a Jesuit, told me that the Ottimati were a congregation of nobles founded by the Normans. I asked him if I could modernize it by calling it Masonic lodge ante litteram, but the Jesuit father, with a tired smile, pretended that mine was not a question but a consideration.
Those were the years in which Enrico Cuccia's black and fluttering cloak weighed heavily on Italy, everything passed by him, it was the country's economic funnel. He was more powerful than the Treasury Minister and the Governor of the Bank of Italy.
He had invented an App, more ingenious than Uber's , which allowed him to exercise power over companies owned by others and for this reason be revered and sumptuously paid. The App was based on an assumption: if his strategic design (always the same, basically banal) was successful it was thanks to him, the owner remained that way and entered his stable. If the design failed it was the fault of the owner who paid the consequences, sometimes losing the company.
In short, a Robin Hood, very honest on a personal level, who stole from the rich to give it to other rich, provided everything happened in the Crypt of the Optimized and was zero sum. In one of my books (Una Storia Operaia, in the autumn it will be republished for the Zafferano bookstore) I compared him and Mediobanca to a cuscuta, a plant with a filiform stem, slightly curved, equipped with dangerous enveloping bracts, potentially deadly for those around them. In certain briar-lined rooms, my metaphor of the time was not taken well.
With his death the agony of his creature began, but the decline, thanks to the ability of his two good students, was very slow. On the other hand, Mediobanca's original business model was unrepeatable and personal: it was based on the terror that inspired the rich, the powerful, the politicians, the magistrates, that little man, so curved, but made of HSS steel and vindictive as only Sicilians-Greek-Albanians can be.
Alessandro Penati rightly compares, I imagine smiling, the clash between Leonardo Del Vecchio and the management of Mediobanca at the Game of Thrones, in reality, in this clash all the weakness of our current financial system is revealed.
Del Vecchio's move is typically "Cucciana", there is no strategic breath, only a mix of money and power. Banally you buy Mediobanca chocolate egg to treat yourself to the "surprise" that Assicurazioni Generali has in its belly. An operation by Ottimati di cioccolato.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/vi-racconto-le-vere-mire-di-del-vecchio-su-mediobanca-e-generali/?utm_source=rss&utm_medium=rss&utm_campaign=vi-racconto-le-vere-mire-di-del-vecchio-su-mediobanca-e-generali on Sun, 07 Jun 2020 05:28:13 +0000.