Handbook on Corporate Governance in Financial Institutions

Handbook on Corporate Governance in Financial Institutions

Research Handbooks in Business and Management series

Edited by Christine A. Mallin

The global financial crisis has led to more and more focus on corporate governance and financial institutions. There has been much coverage in the media about various corporate governance related issues in banks and other financial institutions, such as executive directors’ remuneration and bankers’ bonuses, board composition and board diversity. This engaging book, dedicated to the corporate governance of banks and other financial institutions, makes a timely and accessible contribution to the literature in this area. The chapters highlight many of the shortcomings of corporate governance which have led to financial scandals, whilst indicating areas where corporate governance can be strengthened and improved.

Chapter 1: An evolutionary overview of the ownership, governance and strategy of Mediobanca: from the kingmaker of Italian capitalism to a large financial conglomerate

Alessandro Zattoni and Francesca Cuomo

Subjects: business and management, corporate governance, economics and finance, financial economics and regulation


The chapter presents the history of Mediobanca from its birth to today. This history is particularly interesting for several reasons. First, Mediobanca has for a long time been the dominant player of the national investment banking industry thanks to its links with the three largest Italian commercial banks. Furthermore, Mediobanca has played a key role in the development of the national economic system by both favouring the stability of control and supporting the growth of large national private industrial groups. Finally, the history of Mediobanca is strictly intertwined with the personality and the vision of Enrico Cuccia, one of the most influential and admired bankers of its time.