Giuseppe Zadra
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Giuseppe Zadra | |
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| Born | August 25, 1941 Trento, Italy |
| Died | September 27, 2015 (aged 74) Milan, Italy |
| Alma mater | Sapienza University of Rome Harvard Business School |
| Occupation | Banker, regulator |
| Known for | Director General of ABI (1992–2009) |
Giuseppe Zadra (25 August 1941 – 27 September 2015), also known as Puccio, was an Italian banker and financial regulator. He served as Director General of the Associazione Bancaria Italiana (ABI) from 1992 to 2009, a period of regulatory and structural change in the Italian banking sector. During his tenure, ABI promoted initiatives such as PattiChiari, ABI Lab, and the Corporate Banking Interbancario (CBI).
Zadra was also involved in Italy’s banking privatizations, the adoption of the euro, and the response to the global financial crisis. Earlier in his career, he held senior positions in Italian banking and at Consob, Italy’s securities regulator, and later served in leadership roles within European banking organizations, including the European Banking Federation.[1] [2]
Early life and education
Zadra was born in Trento on 25 August 1941, the son of an officer in Italy’s Guardia di Finanza.[3] He graduated in law from the Sapienza University of Rome and later earned an MBA from Harvard Business School. During this period, he undertook early professional experience with international financial institutions, including a brief internship at Goldman Sachs in 1972. He also worked with the Rome-based investment bank start-up Afin.[4]
Early career and Consob
Zadra began his career in regional banking, becoming vice-general manager at Banca di Trento e Bolzano and later general manager of Credito Milanese.
In 1985, he joined Consob (Italy’s securities regulator) as Director of the Stock Exchange Division. In this role, he oversaw the transition from paper-based to electronic trading and contributed to the drafting of Law 1/1991, which introduced reforms in market oversight and investor protection.[5]
Leadership at ABI (1992–2009)
Zadra was appointed Director General of ABI in 1992. During his tenure:
- He served during the transition from state-owned to privately controlled banking groups in Italy.
- He coordinated ABI’s engagement with European monetary and regulatory frameworks following the introduction of the euro.
- ABI launched PattiChiari, an initiative intended to improve transparency of banking fees and services for consumers.[6]
- ABI expanded initiatives including ABI Lab and the Corporate Banking Interbancario (CBI).
Internationally, Zadra chaired the executive committee of the European Banking Federation during two mandates (1994–1996 and 2006–2008) and was involved in the Euribor-EBF working group.[7]
During the 2008 financial crisis, he appeared on Sky TG24, stating that the Italian financial system was solid and that bank deposits were protected.[8]
Later career (2009–2015)
After leaving ABI in 2009,[9] Zadra held several positions in asset management and financial institutions, including
- chairman of Prima SGR and Prima Holding,[10]
- president of Anima Holding until its 2014 IPO,[11]
- vice-president of Cassa del Trentino.
He also served as Secretary General of the Istituto Luigi Einaudi, a research institute and policy think tank.[5]
Criticism
Consumer associations, including ADUSbef, criticised ABI’s PattiChiari initiative following the sale of Lehman Brothers bonds to retail investors, arguing that the framework did not provide sufficient protection against mis-selling.[12] In 2009, Zadra also opposed proposals for increased state oversight of banks, describing the measures as excessive regulatory supervision.[4]
Death
Zadra died in Milan on 27 September 2015 at the age of 74.
References
- ↑ "Addio a Giuseppe (Puccio) Zadra, già direttore generale di Abi e figura di spicco della finanza". FIRSTonline (in italiano). 28 September 2015.
- ↑ "Giuseppe Zadra e il ruolo delle banche italiane per lo sviluppo". Bancaria (in italiano). October 2015.
- ↑ "Addio al banchiere gentiluomo Zadra". Giornale Trentino. 2015.
- ↑ 4.0 4.1 "Profile: Giuseppe Zadra". Il Foglio. 2015.
- ↑ 5.0 5.1 "Consob modernization". Bancaria.it. 2015.
- ↑ "ABI system under Zadra". Altreconomia.it. 2015.
- ↑ "EBF Memorial Note for Giuseppe Zadra" (PDF). ebf.eu. 2015.
- ↑ "Zadra reassures depositors". Sky TG24. 2008.
- ↑ "Italy ABI director general Zadra resigns". Reuters. 18 March 2009.
- ↑ "Giuseppe Zadra presidente di Prima SGR". Bluerating.com. 2009.
- ↑ "Muore Giuseppe Zadra". FinanzaOnline.com. 2015.
- ↑ "Il Sole 24 Ore – polemiche su PattiChiari". ADUSbef.it. 2009.
External links
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