Italian billionaire Francesco Gaetano Caltagirone has positioned himself as a key player in the ongoing transformation of Italy's financial sector. Over the past year, he has broadened his investments, becoming a major shareholder in the restructured bank Monte dei Paschi di Siena (MPS) and the fund manager Anima Holding.
Caltagirone has notably joined forces with other investors in actions like MPS's 13.3 billion euro all-share bid for the acquisition of merchant bank Mediobanca, where he is the second-largest investor. Additionally, he holds a significant stake in Italy's top insurer, Generali, and has voiced concerns about Mediobanca's dominance in Generali's governance.
Having long been involved with Generali as an investor and board member, Caltagirone made unsuccessful attempts in 2022 to remove CEO Philippe Donnet. The Italian government, led by Prime Minister Giorgia Meloni, has backed Caltagirone's proposed corporate governance changes, aimed at limiting outgoing board members' influence over board succession.
Caltagirone's holdings could potentially challenge UniCredit CEO Andrea Orcel's interests, notably in relation to Banco BPM. The Treasury in Rome has favored merging BPM with MPS, both of which collaborate with Anima, to consolidate long-term shareholders as MPS transitions back to private ownership.
An influential figure with diverse business interests, Caltagirone, born in Rome in 1943, ranks as the 10th wealthiest individual in Italy, according to Forbes. Apart from his investments, Caltagirone owns Il Messaggero, a prominent Rome-based newspaper, and multiple regional newspapers.
Despite his immense wealth, Caltagirone opts for a low-key public presence, seldom granting media interviews. Starting with his family's enterprise, he has expanded his business realm over the years, notably through acquisitions in the construction and cement sectors, establishing a global footprint for his cement company, Cementir.
Caltagirone's business ventures involve his three children, Francesco, Alessandro, and Azzurra, who are actively engaged in the family operations without specific roles as successors.