MASSIMO RACCA

Head of Sub-performing loan of Department BancoBpm Group

EDUCATION
1983 – Degree in Law University of Turin (graduated 110/110), degree dissertation in Civil
Procedures.
CAREER
Since January 2017
Head of Subperforming Loans Department of BancoBpm Group. Responsible for Past Due,
Unlikely to Pay and Restructuring exposures. Member of the Credit Committee.
Member of Nuova Sorgenia Holding Spa Management Board.
Since October 2013 – December 2016
Head of “Tutela del Credito”: directly reporting to the Chief Lending Officer, in charge of
monitoring and managing the Non-performing Loans portfolio of BPM. Member of the
Credit Committee.
Chairman of Calliope Finance Spa (JV SPV with Lehman Brothers) aimed to perform
mezzanine financing
Member of the Banca Popolare di Mantova board of Directors.
25 March 2013 – 13 October 2013:
Head of the Special Situation Unit within the Corporate Department of BPM: in charge of
credit restructuring operations; suggestion of strategies of risk control / risk-reward
optimization for high-risk client profiles in order to minimise losses in collaboration with the
credit department.
December 2009 – March 2013:
Corporate Finance Department in Banca Popolare di Milano, in staff to the General
Manager, in charge of developing the share of wallet for middle-upper corporate clients
(i.e. € 25 : 250mn of revenues) through non-conventional corporate finance operations.
This unit was transformed in Development and Advisory Unit in staff to the Corporate
Department in October 2011 with the aim of “supporting the commercial network in
corporate finance operations and execute operations referred to clients of Commercial
Banks within the Group”.
July 2002 – December 2009:
Banca Akros S.p.A. Deputy General Manager, Head of Institutional & Corporate Banking
in charge of the Bank Corporate and Institutional Client coverage
Member of the Credit Committee of Banca Akros. Most relevant public operations
directly managed:
 advisor as defender on behalf of Prima Industrie SpA during hostile tender offer
(OPA) on the company (2003)
 bond issue on behalf of Enel (2004-2007) and Telecom Italia (2005)
 IPO Marr (Gruppo Cremonini) (2006)
 advisor on behalf of Cremonini S.p.A. during OPA (takeover bid) for delisting (2008)
 advisor on behalf of Gruppo Sacmi/HPS during OPA (takeover bid) for Negri Bossi
delisting (2008)
From 2006 al 2009 took part in the AIAF (Italian Financial Analyst Association) team Group
on Risk Disclosure to apply IAS/IFRS principles by non-financial listed companies, whose
conclusions where published in “AIAF Quaderni” number 138 e 140.
In 2009 also wrote together with the same team group a paper on the Risk Disclosure Best
Practice for non-financial listed companies published in the “AIAF Quaderno” number 143
July 1983 – July 2002:
Telecom Italia S.p.A. – Finance Department – hired by the holding STET, where he become
manager in 1993, he worked then in Telecom Italia following the merger of the same
company in the holding, where he took more responsabilities until being appointed Head
of Equity Capital Market also Responsible for the Group Securities Department.
Main responsabilities:
 main finance operations for the Group: Telecom Italia merger (1994), TIM demerger
(1995), SEAT demerger (1996), STET/TI merger (1997), TI Privatisation (1997), OPA
(takeover) Olivetti on TI (1999)
 management of Group equity portfolio
 project-leader for STET listing on New York Stock Exchange (1995) and post-listing
management
 project-leader for IPO ($ 300 mi) of the subsidiary STET Hellas on Nasdaq (1998),
head of the Group Securities Department, member of several management
boards of some group companies, among which Sogerim S.A. (SPV for fund rising
on the Euromarket). As member of the relevant SPV Board he organized in 2001 the
most important exchangeable issue (€ 2,5 billion) in Europe, convertible in two
stocks (TIM/ Seat), and in 2002 the $12 billion Global Medium Term Note. On behalf
of Telecom Italia acted as member of the management board of Telemaco
Pension Fund for the telecommunication industry (2000-2002)
OTHER RESPONSIBILITIES/ACTIVITIES
Member and Vice President of the “Emittenti Titoli”
Member of the Finance Committee of Confindustria (2000-2002)
Took part in the team work responsible for the editing of the TU (Italian Finance Code)
together with Assonime(1997/1998)
On behalf of Group STET/Telecom Italia
 Part of the Team that worked on the editing of the Law on the centralised securities
operations of “Monte Titoli” (1985/1986)
 Part of the Team which represented listed companies for the revisions of the stock
exchange regulations that occurred following the privatisation of the Stock
Exchange Counsil (1996)
 Start up of the “Emittenti Titoli S.p.A.” which took part in the Borsa Italiana
privatisation(1997)
 Chairman of the Healthcare Association for STET Personnel (1990/1993)