Banca di Vicenza, million executives and associates remain the crumbs – Messaggero Veneto

 UDINE. Rich, very rich. The remuneration of directors and super managers of Banca Popolare di Vicenza bloody clash with accounts in distress (a hole of 1.4 billion in 2015) and the pulverization of shareholder value. So much so that the 119,000 members (those over 12,500 residents in Friuli Venezia Giulia) remain a few crumbs of savings accumulated in a lifetime of work and today evaporated, almost. Salaries were announced yesterday during the institute’s Assembly held in Vicenza Fair.

 

 

The testimony to the plight of those who have lost everything. A retired: let’s go get the seals of Zonin

 And they have raised a chorus of protests and moans. The biggest slice if it is taken home the former president Gianni Zonin (resigned last November) with over one million in salary.
 

 The current number one Stephen Lamb stops at 119 000 euro, but took office at the end of 2015. The two vice presidents Marino Breganze and Andrea Monorchio raking in 404,000 and 294,000 Euros respectively, the secretary George Thibault advisor touches share 217 EUR thousand.

 

 They defend well, in terms of compensation, as well the only two councilors from Friuli. Giovanni Fantoni, owner of the homonymous industry Osoppo, earns 142,700 euro, of which 110 thousand of annual allowance of € 32,700 and attendance fees. Paycheck even heavier for Dr. George Colutta that the 133,000 euro for his office in the council, sums up the 32,300 euro as an adviser in the subsidiary Banca Nuova and the 64,550 euro as president of another satellite, FabBanca.

 

 

The loss comes to 1.4 billion: non-performing loans amounted to 5.3 billion. “Unicredit will deliver what has been agreed on guarantees for the capital increase ‘

 

 The word crisis is outside even the vocabulary of the highest BPVi executives. And particularly they raise the eyebrow and one-time severance packages granted.

 

 CEO Francesco Iorio, in office since last June 1, has received 2.678 million euro, of which 1.8 million as a bonus entry. Deputy Director General James De Francisco, in office since 22 June 2015, received 1.02 million euro, of which 700,000 as a one-off bonus entry. Overall – emerges from the remuneration report – the bank has paid 2.675 million of input bonus euro one-off six leaders, including De Iorio and Francisco, and 5.2 million euro severance pay five former executives.

 

 The largest, amounting to 4 million euro, was recognized former CEO Samuel Sorato, who has already received two and the other two will cash every three deferral. For the former, under investigation for Zonin obstacle to the supervisory and market manipulation, the total compensation of 2015 (resigned 12 May) was 2.6 million.

 

 

 

 The bank “has reserved the right to take action for recovery ‘of 4.81 million of severance packages, paid in addition to also Sorato former deputy general managers Giustini Emanuele and Andrea Piazzetta, also under investigation.

 

 The managing director and general manager Iorio, at the meeting, spoke about to justify his salary. “I would like to point out three things – he said -. First the non-collection of previously accrued bonus in Ubi Bank, according to the retention signed with Vicenza and finally I was general manager of the fourth Italian bank (Ubi Banca, ed) and I came here to gather a important professional challenge but also very risky both from the professional point of view that reputation. “

 

 Finally the chairman of the supervisory board, Giovanni Zamberlan, from time immemorial to the guide of the control, received 180,000 Euros. Trenchant remarks of the President of Consumers Association Fvg Barbara Puschiasis’ Compensation? An absolute disgrace – he said -. In particular, the severance packages for former managers. “

 

 Meanwhile, in the assembly of the Easter vigil it was consumed by another paradoxical story. In fact, rejected the liability actions, promoted by the lawyer who defends Bertelle dozens of small shareholders, against the old directors, auditors and general managers who were to be identified as responsible for the collapse of the institute. It voted in favor of action 38.05% of the capital intervened, against 18,64% and 43,29% abstained on.

 

 He had been the president Dolcetta to recommend to the shareholders to postpone, at least for the moment, and so it was. Enraged, for this choice, Deputy Economy Minister Enrico Zanetti.

 

 “From a political leader and statesman Venetian I had no doubts in saying clearly that it would be foolish, the approval by the shareholders of Banca Popolare di Vicenza, to vote against the transformation of the bank – he said -. For the same reason, I have no doubt in saying now so clearly that was insane, by the same shareholders’ meeting, to vote in favor of a liability action against the previous summits. I am truly amazed. “

 

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