Carlo Messina’s Quiet Playbook for the Monte dei Paschi Takeover

Messina’s approach mirrors the 2017 acquisition of UBI, where months of internal preparation and pre-arranged antitrust remedies allowed Intesa to bypass competitors. The current deal, which accelerated after rival suitor Banco BPM approached MPS, relies heavily on the partnership between Messina and Unipol CEO Carlo Cimbri. The two executives spent months negotiating a structure where Unipol would absorb roughly half of MPS’s branches, addressing competition concerns before they could derail the bid.

Since taking the helm in 2013, Messina has positioned Intesa as the state’s primary financial ally, focusing on private savings and asset management rather than aggressive international expansion. This status granted him unique leverage, exemplified by his direct coordination with Prime Minister Giorgia Meloni on banking tax policies. While rivals like UniCredit have faced friction with the Treasury and international regulators, Messina’s ability to navigate Rome’s political climate has proven to be his most potent asset. Having secured a new mandate in April 2025, the CEO continues to maintain a tight-knit leadership circle and a dividend-heavy policy that keeps both institutional investors and charitable banking foundations firmly on his side.