The Fondazione Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto, known as Fondazione Cariparma, is an Italian banking foundation and former bank that spin off its banking activities in 1991. The foundation currently is a minority shareholder of Crédit Agricole Cariparma.

History

Fondazione Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto was formed in 1991 by the spin-off of the Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto's banking activities as Cassa di Risparmio di Parma S.p.A. (Cariparma S.p.A.), in which the original legal person of the bank became the banking foundation instead. The bank, a ''

società per azioni ''Società'' ( Italian: ''Society'') was an Italian communist cultural magazine published in Italy between 1945 and 1961. History and profile ''Società'' was founded as a quarterly magazine in Florence in 1945. The founders were Ranuccio Bianc ...

'', merged with

Cassa di Risparmio di Piacenza e Vigevano Cassa di Risparmio di Piacenza e Vigevano was an Italian savings bank based in Piacenza, Emilia-Romagna, as well as a second office in Vigevano, Lombardy. Despite the bank ceased to be exist, the former owner of the bank still operated as a charity ...

S.p.A. and then was acquired by Banca Intesa S.p.A.. The banking foundation also owned a small stake of Banca Intesa due to the acquisition. In 2007, the foundation parted away from Banca Intesa, after it was merged with

Sanpaolo IMI Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers. On 24 August 2006 a merger with Banca Intesa was announced, which on 1 December 2006 was app ...

on 1 January 2007 to become

Intesa Sanpaolo Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity ...

. Intesa Sanpaolo also sold aforementioned Cariparma S.p.A. (as Cassa di Risparmio di Parma e Piacenza) to Intesa Sanpaolo's former shareholders

Crédit Agricole Crédit Agricole Group (), sometimes called La banque verte ( en, The green bank) due to its historical ties to farming, is a French international banking group and the world's largest cooperative financial institution. It is France's second lar ...

and the banking foundation in the same year. In 2015, Associazione di Fondazioni e di Casse di Risparmio S.p.A., a

trade association A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...

of the former savings banks and now banking foundations, on behalf of its members, signed a memorandum of understanding (MoU) with Ministry of Economy and Finance for the new regulation on the assets of the foundations. According to the MoU, the foundations had to decentralize their investment from the banks they are originated from. The foundation also invested in F2i First Fund In 2016 the foundation was invited to invest back to banking sector by joining the private equity fund Atlante that aiming to recapitalize the weak bank and purchase the securitizated non-performing loan. Atlante used most of the equity to bail out Banca Popolare di Vicenza as well as Veneto Banca, with the rest was invested in Atlante II fund, which was cooperated with the Italian government as part of the bail out of

Banca Monte dei Paschi di Siena Banca Monte dei Paschi di Siena S.p.A. (), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 () and established in its present form in 1624 (), it is the world's oldest or second oldest bank ...

(BMPS). Atlante II purchased the securitizated non-performing loan from BMPS. However, Banca Popolare di Vicenza and Veneto Banca faced second bail-out by the Italian government, but in the process the shareholders were bailed-in, wiping the investment of Atlante and in turn Fondazione Cariparma. In 2018, Fondazione Cariparma sold part of the shares of Crédit Agricole Cariparma (formerly known as Cassa di Risparmio di Parma e Piacenza) they owned, to another former owner of the bank, the Fondazione di Piacenza e Vigevano. The latter also owned the Cassa di Risparmio di Piacenza e Vigevano S.p.A. in the past.

Arts collection

Fondazione Cariparma had a museum in for its art collection. In January 2017

marquess A marquess (; french: marquis ), es, marqués, pt, marquês. is a nobleman of high hereditary rank in various European peerages and in those of some of their former colonies. The German language equivalent is Markgraf (margrave). A woman ...

Maria Gabriella Pigoli Pallavicino, widow of marquess Pierluigi Pallavicino (a member of

Pallavicini family The House of Pallavicini, also known as Pallavicino and formerly known as Pelavicino, is an ancient Italian noble family founded by Oberto II ''Pelavicino'' of the Frankish Obertenghi family. The Pallavicini of Genoa The first recorded member o ...

) donated to the foundation.

References

External links

* {{authority control Banking foundations based in Italy Organisations based in Parma