Alessandro Profumo, Italian bank executive. Named Cavaliere al Merito del Lavoro, Republican of Italy, 2004. Board director Teatro alla Scala Foundation, Luigi Bocconi University, Arnaldo Pomodoro Foundation; Member of Institute International d'Etudes Bancaires, Trilateral Commission, steering committee Group of Thirty, European Finance Services Roundtable.
Alessandro Profumo was born in Genoa on 17 February 1957 as the youngest of five children. He grew up in Palermo. 1970 he moved to Milano with his parents where he went to the Liceo Manzoni and met his future wife Sabina Ratti, then his classmate.
In 1977, he married Sabina, and his only son Marco was born the same year.
Graduate in business economic, Bocconi Business University.
As a representative of the share holder value based management approach he is considered to be ambitious. He worked as a consultant at McKinsey and, when Chief Executive Officer of Unicr, he was involved in the merger with HypoVereinsbank, Bank Austria Creditanstalt and Capitalia with the UniCr Group. He resigned as Chief Executive Officer of the Unicr Group on 21 September 2010.
After finishing highschool, Profumo enrolled at Bocconi University.
Having to support a family, Profumo dropped out of college and started his professional career at Banco Lariano, with an initial salary of 377,000 Italian Lire. In 1987, as a branch manager, Profumo decided to resume his studies.
Writing his thesis during the nights, he obtained a degree in Business Economics. By December of the same year he joined McKinsey, where he acted as a consultant to financial institutions.
In 1989 Profumo changed to the Bain, Cuneo & Associati consultancy.
In 1991 he left the consultant path and was appointed to General Manager of the banking and financial sector at RAS, Riunione Adriatica di Sicurtà. Following RAS"s acquisition of shares of the recently privatized Credito Italiano in 1994, he became Deputy General Manager of Credito Italiano and was responsible for strategy and controlling. In 1995 he was appointed to Chief General Manager.
On 29 April 1997 the UniCr group was formed, of which Profumo became Chief Executive Officer.
On 21 September 2010 he resigned from that position, following political disputes. In early 2012 Profumo was appointed Chief Executive Officer of Italian bank Monte dei Paschi di Siena.
In June 2012, Alessandro Profumo and other 19 people were remanded to trial for a tax swindle. The charge is of creating an illegal tax evasion scheme worth 245 million euro.
The scheme, according to the prosecution, was created through an arrangement between Unicr, Barclays (the British bank) and two other minor companies.
The trial is due to start in October 2012. Since 1998 when UniCr Group arose from “Credito Italiano” he has acted as its Chief Executive Officer. By December 2005 he was appointed to chairman of the supervisory board of HVB. Profumo is now President of the Monte dei Paschi bank (June 2012) Alessandro Profumo’s activities by the end of 2006 included: Director of Mediobanca in Italy European Financial Services Round Table, London Steering Committee of The Group of Thirty in New York Italian group of Trilateral Commission Investment Advisory Council for Turkey in Istanbul Management Committee of the Harvard Business School European Advisory Board in Boston Arnaldo Pomodoro Foundation and AIRC, the Italian association for cancer research.
Board director Teatro alla Scala Foundation, Luigi Bocconi University, Arnaldo Pomodoro Foundation. Member of Institute International d'Etudes Bancaires, Trilateral Commission, steering committee Group of Thirty, European Finance Services Roundtable.