About

illimity Bank is a new paradigm bank based in Milan, which supports businesses specialised in supporting small and medium-size enterprises. The Bank was formed very recently from the merger of Banca Interprovinciale, a local and young bank headquartered in Modena, with SPAXS, a special purpose acquisition company. The newly created legal team has already shown its excellent talent, achieving the listing on the Mercato Mercato Telematico Azionario (MTA), the primary Italian Stock Exchange, in less than six months from this acquisition. It has gained praise from nominators who describe the team as, ‘five young people coming from different experiences and with a strong attitude towards innovation, fintech and strong compliance, supporting also all the business functions of the Bank in the implementation of a strong and challenging business plan’. With this strong start, the new team is dedicated to here on out, ‘building a strong sense of cooperation, with the purpose of facing new challenges together’, says general counsel Giovanni Lombardi. After the completion of the listing on the MTA market, illimity has begun the process to formally establish a banking group, which will be made up of Neprix, the servicing unit of the non-performing loans division, and all the securitisation vehicles incorporated by the Bank and third party business too. The legal team has grown alongside illimity’s expansion in both size and business presence over the last few months, and is expected to grow further with the business plan announced to the market. ‘There is a lot to do and new legal matters arise every day with the development of the business and of its corporate structure, hence any member of our legal team is involved in any and all legal issues regarding business, corporate governance and corporate affairs, gladly cooperating with each other to find new and best ways to deal with ordinary and extraordinary matters’, says Lombardi.