Underestimated by his most famous opponents, with the conquest of Mediobanca Luigi Lovaglio has created an almost impossible undertaking, such as renovating Montepaschi in just three years. From the Coca-Cola kiosk, to the football match with the Polish premier, the story of a silent ascent.
Here it is, Luigi Lovaglio: the banker that nobody has seen come. Now, great surprise, he is about to conquer Mediobancathe temple of Italian capitalism and what was once called the secular finance Because of Masonic and anticlerical inspiration. Even if the threads are tangled: the director of Mediobanca, Raffaele Mattiolipresident of the Comit, is buried in the Abbey of Chiaravalle, at the gates of Milan, in a deconsecrated land. It housed the remains of Guglielma La Boemmafirst blessed and then judged witch. But Enrico Cucciathe founder, went to the church every day and also Lovaglio, the conqueror of the institute, is a practicing Catholic.
And then, in addition to the family, there is the other passion: the soccer.
The reversal
To see him like this, with his calm air, the mustache and a lot of irony, Luigi Lovaglio It does not give the impression of being the director of the most sensational reversal of Italian finance. And instead, here it is: a conquest plan that no one believed it possible. Nobody starting from Alberto Nageloutgoing CEO. Animated by a lot of arrogance, he orchestrated a defense that seemed invincible and instead proved to be of papier -mâché. None of the alleged allies went to his rescue. In the end Nagel surrendered. Broken heart but full wallet: 22 million euros Only by selling his actions Mediobanca who will now end up a MPS.
Other than startupper, unicorns and Fintech: at seventy years of age, while most colleagues are already on the hunt for a villa in Versilia or in line for the Master of Burraco, Lovaglio has decided to take Piazzetta Cuccia. So, without saying a word too much. Perfect style of the house, even before entering it.
The origins
A story that begins from far away. Potenza, summer of 1955. While Italy dreamed of America, he was born in a very poor corner of the South. A solid and numerous family: mom, dad, five children and a kiosk in the park. Fresh drinks were sold and there was also an education without frills: no discounts, no complaints, only work.
Who made the apprenticeship between Coca-Cola hot And ice bags knows that the real business school begins there, among the plastic glasses and impatient customers. And it is precisely there that a teacher sees him. Luigi does not attend asylum or school. “He doesn’t want to go there,” explains the mother. The teacher finds the answer: “In October he will come to class with me.” So at just five years the first grade begins.
It does not last: the other children are older and learn better. Parents Mugugnano. Finished experiment. But the mother finds another way: TV. With It’s never too late of the teacher Alberto ManziLuigi learns to read and write.
Bologna, studies and football
Then the transfer to Bologna. The difficulties of insertion for a southern family with five children. At high school among the teachers meet Gianni Scaliaintellectual friend of Pasolini, who transmits two doctrines: the Catholic faith and the systemic doubt. Two excellent tools, it comes to say, for those who would have handled billions and power one day.
The passion for football completes the picture. Not as a spectator: Lovaglio also did thetrainer. In the dusty afternoons of the Lucanian suburbs he was already elaborating patterns. Only then they were 4-4-2and not melts and ops.
The banking apprenticeship
Eighteen years. Luigi just graduated. He must help the family. Enters the bank, to the Bolognese branch of Italian credit. It is 1973. To graduate in economics he will study at night. Job: check case. Translation: zero level of the career.
Already there, including stamps, bulletins and signatures with ink that smoothes, learns the psychology of the account holders, the geography of the discovered accounts, the economy of patience. In 1989, at 34, he became director of the branch of Rimini. Then ThieneIn the end Rome.
Eastern Europe
In 1997 the turning point: Roberto Nicastro calls it in strategic planning of Unicredit. Has just been purchased HVB in Germany. In 1999 they send him in Bulgariadriving Bulbank. Then in Polandwhere in 2003 he takes in his hand PEKAO BANCA And it transforms it into a war machine.
He knows how to recognize the risks: brakes on mortgages in Swiss francs, avoiding a disaster that will overwhelm many competitors. Pekao becomes the reference of the system.
And there is the anecdote that is worth more than 100 budgets: the football match against the premier Donald Tusk. It ends 12 to 2, but it is a diplomatic victory. “Stay two meters by the president,” he orders his players. No foul, no accident.
The return to Italy
In 2016 Pekao is sold. The following year Lovaglio also leaves Unicredit. But his fame as a restoration is now consolidated. Guides the Credito Valtellinesefaces Covid without abandoning Sondrio and prepares the bank for Opa of Crédit Agricola.
Then, the decisive call: the Treasure He wants him to Siena to save MPS. In one year he cleans the accounts, makes a 2.5 billion capital increase, accompanies 4 thousand early early strikes and reports the bank in profit.
The conquest of Mediobanca
One would say: now it retires. Instead no. Now aims at Mediobanca. Transforms a public failure into a lever for the conquest of private power.
The result? A giant without duplication: the network of branches that is integrated with the bank of great business, investments and savings. A war machine built in silence. No Instagram presence, no river interview, no motivational books.
A profile that a Sit He would probably not have been sorry.
