C.Agricole Italia: Brasseur to staff – ‘With Banco BPM, we are at the start of the journey’

To create a group with an Italian identity and a European dimension

(Il Sole 24 Ore Radiocor) - “We are at the start of a process, not facing a deal that has already been finalised.” This is how Hugues Brasseur, CEO of Credit Agricole Italia, presented the merger proposal put forward by the French parent company to Banco Bpm in a letter to staff. “It is a friendly proposal, which has also been submitted for consideration by Banco BPM’s board of directors, and which stems from our long-term partnership and mutual understanding,” he explained. “The ambition,” the letter continues, “is to bring together two organisations deeply rooted in the country to create Italia’s third-largest banking group,” which will remain “listed on the stock exchange”. “A group,” he concluded, “capable of combining a close connection to local communities, financial strength, experience and the ability to innovate and invest, with an Italian identity and a European dimension.”

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