Team size: 180
 

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense? 

In the context of litigation management, we extended our external lawyer access to our IT platform, allowing the legal consultant to systematically update the platform, thereby maintaining an up-to-date database. This implementation enhanced our operational efficiency, allowing the internal litigation manager to focus on more important matters rather than administrative burdens. Notably, the bank downsized its workforce in November, reducing the employee count from 24,000 to 19,000, which resulted in a loss of 30 legal department personnel.
 

Can you foresee any key developments to the way general counsel work over the next five years? 

Doing more with less people. This is the key development to watch for in the upcoming years. This means that we need to acquire higher-calibre people from the market, with the goal of driving substantial transformation and increasing productivity.
 

What are some of the main trends impacting the industry sector you work in in Italy? 

IT investments have been key in our industry. The substantial increase in digitalisation requires further investments in IT enhancements. Looking from a strictly business standpoint, the mounting interest rates should prompt banks to adopt a prudent approach in dividend allocation, particularly considering the projected increase in credit costs in the near future.
 

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company? 

The Bank is keen to pursue sustainability initiatives. As far as the role of the general counsel is concerned, it appears that significant contributions may arise from corporate governance. Vital issues such as gender equality, diversity and inclusion, as well as remuneration policies, take centre stage. The general counsel’s involvement is key in ensuring the effective implementation of sustainability practices in these areas.
 

How would you assess the impact of new technologies on the legal landscape in Italy, and what measures would you propose to leverage these technologies while ensuring compliance with relevant laws and regulations? 

As mentioned earlier, new technologies play a key role in the bank’s development. Naturally, banks operate within a highly regulated landscape that include precise laws and regulations concerning client transparency. This presents the real challenge, to ensure the integration of new technologies whilst also safeguarding clients’ rights in compliance with the regulatory environment.
 

How do you prioritise diversity and inclusion within your legal department, and what initiatives have you implemented to foster a more inclusive and equitable work environment? 

The Bank implemented a human resources development plan to enhance inclusivity and increases representation of underrepresented genders within the leadership succession plan. Regarding the environment, the pandemic situation provided all of us with a chance to recognise the value of remote work, which, in my view contributes to increased productivity.
 

How do you stay updated on the evolving regulatory landscape in Italy and ensure compliance with domestic laws, EU regulations, and industry-specific regulations? 

Personally, I do not have a specific method and find any source to be suitable. Within the banking industry, it is normal to keep an eye on regulatory updates from entities like the ECB, EBA, Bank of Italy, and Consob, which proves highly beneficial. I also find it helpful to stay in tune with updates through newsletters, external counsel, and platforms like LinkedIn and similar channels.
 

What is a cause, business-related or otherwise, you are passionate about, and why? 

A systemic bank, like BMPS, is a complicated animal. Its operations span a wide spectrum, and from a legal and corporate perspective, each day presents opportunities to learn something new. Despite my extensive experience in the banking industry, it is not uncommon to grapple with new challenges and problems. These can encompass areas such as investment banking, corporate financing, acquisition financing, mergers and acquisitions, and banking transparency, to name just a few. The diversity of legal and corporate problems has kept my role consistently exciting over the years.