As per the resolutions of the Management Board of Intesa Sanpaolo, Carlo Messina, General Manager Deputy to the CEO, has been appointed Head of the Retail Banking Division. Carlo Messina takes on this role in addition to maintaining his current responsibility as Supervisor of the Chief Financial Officer Governance Area. The scope of the Retail Banking Division now includes mid corporates, and product factories operating in the leasing business (Leasint and Centro Leasing) and in the factoring business (Mediofactoring and Centro Factoring), which previously belonged to the Corporate and Investment Banking Division. Stefano Del Punta has been appointed Chief Financial Officer. A Chief Governance Officer Governance Area has been set up and is headed by Paolo Grandi. A Wealth Management Governance Area has been set up and is headed by Gianemilio Osculati.

Milano Serravalle Milano Tangenziali S.p.A. has retained Intesa Sanpaolo S.p.A. (BIT:ISP) for divesting stakes in Tangenziale Esterna di Milano (TEM), Brebemi SpA and Autostrade Lombarde S.p.A., Serravalle’s Chairman Marzio Agnoloni told Milano Finanza. He added that Autostrade Lombarde may acquire stakes in the other two companies.

Intesa Sanpaolo S.p.A. announced earnings results for the first quarter of 2013. For the quarter, the company announced operating income is at EUR 4.1 billion, apparently down 8.3% versus last quarter but up 3.8% in homogeneous terms. This performance has been driven by a 7.3% reduction in net interest income, largely due to the extraordinary liquidity buffer that the company built. Net fees and commissions that are up 4.4%, excluding the effect of performance fees; profits on trading doubling fourth quarter results of netting last quarter from buybacks, which were worth EUR 110 million in fourth quarter, and hedging, which was worth EUR 342 million in fourth quarter; finally, insurance delivering another positive performance, plus 45% against fourth quarter; and an EUR 80 million negative impact from principal investments. Net income stands at a solid EUR 306 million and EUR 392 million if normalized, reversing the negative trend registered in the past 3 quarters.