Corrado Passera
Corrado Passera | |
|---|---|
| Born | December 30, 1954 Como, Italy |
| Occupation(s) | Executive, banker, politician |
| Known for | Minister of Economic Development and Minister of Infrastructure and Transport in Mario Monti administration |
Corrado Passera (born 30 December 1954 in Como, Italy) is an Italian executive and banker who held the positions of Minister of Economic Development and Minister of Infrastructure and Transport within the Mario Monti administration.
Biography
Originating from a family of entrepreneurs, Passera completed his degree in Business Economics at Bocconi University in 1977, followed by an MBA from the Wharton School of the University of Pennsylvania in 1980.
Professional career
His professional journey commenced in 1980 at McKinsey, where he specialized in restructuring banking, insurance, and service firms both domestically and internationally. Subsequently, he joined CIR, the holding entity of the De Benedetti Group, initially as CEO’s assistant and then as General Manager between 1988 and 1990. During this period, he was involved in financial initiatives such as establishing a new core shareholder base for Credito Romagnolo, where he served as Vice President from 1987 to 1995.
From 1991 to 1992, Passera acted as COO of the Mondadori Group before becoming Vice President and CEO of Editoriale L’Espresso-Repubblica, overseeing its public listing. He later assumed the role of Co-CEO at Olivetti Group, managing its expansion into telecommunications through the launch of Omnitel and Infostrada.
In 1996, he was appointed CEO and General Manager of Banco Ambroveneto. The following year, he led its merger with Cariplo, resulting in the formation of Banca Intesa. In 1999, Passera was named CEO of Poste Italiane by the Ministry of Treasury to guide its turnaround during a crisis. Under his direction, Poste Italiane diversified into financial services with the introduction of Bancoposta and Poste Vita, reaching profitability by 2002.
Returning to banking in 2002, Passera became CEO of IntesaBCI. In 2006, he engineered the merger with Sanpaolo IMI, creating Intesa Sanpaolo, where he held the roles of Director and CEO until 2011. He also championed the establishment of Banca Prossima, a bank dedicated to social enterprises.
In 2010, alongside Umberto Eco, he launched Encyclomedia Publishers to develop a digital History of European Civilization aimed at educational and cultural objectives. This initiative was unveiled at the UN in 2013 and completed by 2015.
On 18 January 2018, Passera established "Spaxs," a financial sector SPAC. Following its September 2018 merger with Banca Interprovinciale, he founded illimity, a banking group targeting small and medium-sized enterprises with growth potential. Since September 2020, Illimity has been listed on the STAR segment of Borsa Italiana.
Political career
In 2011, Corrado Passera was designated by President Giorgio Napolitano as both Minister of Economic Development and Minister of Infrastructure and Transport in the government led by Mario Monti, positions he maintained until April 2013.
On 23 February 2014, Passera launched the political party Italia Unica. In June 2015, he declared his candidacy for Mayor of Milan but withdrew a year later to support center-right contender Stefano Parisi. Italia Unica was officially dissolved on 30 September 2016.
Other positions
- Serving on the boards of Bocconi University and the Fondazione Teatro alla Scala.
- Holding directorship roles at Finmeccanica and Crédit Agricole based in Paris.
- Acting as an advisor and part of the Executive Committee for the Italian Banking Association.
- Participating as a member of the International Advisory Boards for McKinsey & Company, the Wharton School in Philadelphia, and the Scuola Normale Superiore of Pisa.
- Board member of the International Institute of Finance located in Washington, D.C.
- Serving on the General Council of the Giorgio Cini Foundation in Venice.
- Engaged with the International Business Council and Global Agenda Councils under the World Economic Forum.
- Appointed President of the Imola International Academy Foundation “Incontri con il Maestro” since February 22, 2019.
Honours and awards
Awarded Grand Officer of the Order of Merit of the Italian Republic on December 27, 2005.
Conferred Knight of the Order of Merit for Labour on June 1, 2006, by the President of the Italian Republic, Giorgio Napolitano.
Recipient of an honorary doctorate in Management Engineering from the Polytechnic University of Bari, alongside an honorary master's degree in International Business from MIB Trieste School of Management.