Published by Global Banking and Finance Review
Posted on December 15, 2025
1 min readLast updated: January 20, 2026
Caltagirone group strengthens governance over Generali and MPS amid an investigation involving Chairman Francesco Gaetano Caltagirone.
MILAN, Dec 15 (Reuters) - Italy's Caltagirone construction group, a leading investor in bank Monte dei Paschi di Siena and insurer Generali, said on Monday it was beefing up governance controls relating to the two investments.
The decision comes after Milan prosecutors placed under investigation Chairman Francesco Gaetano Caltagirone as part of a probe into alleged hidden coordinated action with another major investor to gain control of merchant bank Mediobanca and Generali through Monte dei Paschi.
The Caltagirone group rebutted the allegations in a statement, "reaffirming ... its strong belief in the integrity of the chairman's conduct, expressing the hope that this will soon be formally recognised."
It said the chairman had decided to give up delegated powers to vote at the shareholder meetings of Monte dei Paschi and Generali.
If required to vote at the meetings, the Caltagirone group will first consult its independent board members, possibly enlist external advisers, and finally have the decision approved by its board, it said.
(Reporting by Valentina Za, editing by Gavin Jones)
Corporate governance refers to the systems, principles, and processes by which companies are directed and controlled. It encompasses the relationships among the stakeholders involved and the goals for which the corporation is governed.
Insurance is a financial product that provides protection against potential future losses or damages. It involves a contract where an individual or entity pays premiums in exchange for coverage against specific risks.
Investments are assets acquired with the expectation of generating income or appreciation in value over time. They can include stocks, bonds, real estate, and other financial instruments.
Banking refers to the business conducted by financial institutions that accept deposits, provide loans, and offer other financial services to individuals and businesses.
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