Chairman of the Committee:
Francesco Saverio Vinci
Maurizia Angelo Comneno
The Executive Committee is currently comprised of four members. Chaired by the CEO, the Executive Committee remains in office for the entire term of office of the Board of Directors that appointed it.
In the performance of its management duties, the Executive Committee implements the Board’s orientation and guidelines, without encroaching on the duties reserved for the board.
Barring their ineligibility and the limits of current regulations, the two Directors who are group managers are also rightful members of the Executive Committee and are required to focus exclusively on the performance of the duties of their position. Unless the Board decides otherwise, they may not hold directorship, management, control or other positions in other companies or entities that are not investees of Mediobanca.
The other members of the Executive Committee – unless the board decides otherwise – may not hold directorship, management, control or other positions in other banking or insurance groups.
The Chairman of the Board of Directors participates in the Executive Committee’s meetings to ensure adequate information and reporting flows to the entire Board. The Board of Statutory Auditors also participates. In addition, the Secretary, the Chief Risk Officer and the Manager responsible for preparing the accounts participate in the Board meetings.
The Articles of Association assign the Executive Committee responsibility for the bank’s day-to-day operations. Specifically, the committee:
- passes resolutions in accordance with the Board’s general orientation and guidelines on lending;
- establishes operating limits on the assumption of the various types of risks, in accordance with the risk appetite framework;
- is responsible for the group’s investment process.
The Executive Committee is called by its Chairman as business requires and generally meets once a month.
It met 11 times in the year ended 30 June 2019, with the full participation of all Directors.