The Management Board is composed by a minimum of 7 to a maximum of 11 members elected with a three year mandate from amongst registered shareholders with voting rights by the Supervisory Board, on the proposal of the Appointments Committee.
  
A Chairman, a Deputy Chairman and a Chief Executive Officer are appointed from among its members. Its members must be in possession of the qualities of integrity and professionalism and any other requirement prescribed by regulations currently in force.

The majority of them must have at least a total of three years experience in management and/or professional activities in financial and/or securities and/or banking and/or insurance companies in Italy or abroad and at least one of them must possess the requirements of independence stated in the consolidated law on finance.
  
The Management Board, which meets at least once a month, is responsible for the management of the company in observance of the general strategic policies and programmes approved by the Supervisory Board.

The main powers of the Management Board are as follows:

• the definition of the general programmes and strategic policies and the drawing up of the industrial and/or financial plans of the Bank and the Group to be submitted to the approval of the Supervisory Board;
• the risk management and internal control policies;
• the appointment and dismissal of the General Management and the definition of its functions and responsibilities, and also the appointment of the senior management of the Group; 
• the preparation of the draft Individual Company Financial Statements and of the draft Consolidated Financial Statements.
  

The Management Board is currently composed by: