Leaders in Finance: Visit to illimity

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On March 19t the MCF visited illimity at their headquarters in Milan. Throughout the morning, the class attended a series of engaging presentations delivered by distinguished speakers.

Corrado Passera – Founder and Chief Executive Officer

Mr. Passera emphasized the necessity for banks to adopt an entrepreneurial mindset to navigate the disruptive changes they will face in the coming years, particularly in areas such as payment services. He then recounted the origins of illimity, which was established to address the financing needs of second-tier SMEs -businesses often overlooked by traditional banks. He explained how the company initially operated through two key pillars: lending to SMEs in both normal and distressed situations.

He also highlighted Illimity’s resilience as a startup - albeit a sizable one -in overcoming not just one but three significant crises: the COVID-19 pandemic, the war in Ukraine, and the decline of the distressed credit market. He ended by addressing a challenging and highly relevant topic: the current tender offer on illimity. After some Q&A, He reaffirmed the company’s commitment to safeguarding shareholders' interests and ensuring the best possible outcome for them.

 

Marco Russomando – Chief HR Officer

Mr. Russomando provided the class with two key takeaways: the importance of developing horizontal skills and the ability to “unlearn” in order to adopt new, unbiased perspectives.

 

Fabio Pelati – Head of IR and Sustainability

Mr. Pelati provided insights into the transformation of illimity’s IT function from a cost center to a revenue-generating asset. He discussed the company’s strategic investments in various ventures, which were later integrated into its core business operations. Moreover, he emphasized the diverse functions of illimity, including structured finance, turnaround and credit opportunities, investment banking, factoring, and asset-based financing.

 

Vittoria Marchetti – Service & Asset Management Director, Arec Neprix

Mrs. Marchetti provided an overview of Arec Neprix, a Service & Asset Management company owned and operated by illimity. She highlighted the company’s evolution from its inception as a captive entity to its current position as a comprehensive asset management operator, now predominantly serving third-party clients.

 

The "Illimiters"

A group of young professionals, known as "Illimiters," shared their academic backgrounds, current roles within the company, and personal insights into their experiences at illimity. They discussed the aspects of their work that they find most rewarding and the opportunities the company offers for professional growth.

 

SDA Bocconi School of Management

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