Corporate-governance Corporate-governance Corporate-governance Corporate-governance Corporate-governance

Corporate Governance

Lawfulness and transparency are the fundamental principles of our activities

Corporate Bodies


Board of Directors

SACE operates through a traditional model of administration and control. The Board of Directors consists of seven members and has the widest possible powers to administer the Company, in compliance with the law and the Articles of Association.

The Board is in charge of:

  • the management of the Company and fulfilment of all the operations needed to implement the corporate purpose;
  • the assessment of the adequacy of the organisational, administrative and accounting structures of SACE, of which it constantly monitors the actual performance and examines the strategic, industrial and financial plans;
  • the implementation of internal control, for which it is responsible, guaranteeing the identification, assessment and control of the most important corporate risks.
Beniamino Quintieri has been Chairman of SACE since June 2016, after being a director from 2002 to 2007. From 2001 to 2005 he was Chairman of the Italian Foreign Trade Institute (ICE) and was the Government’s Commissioner for the World Exposition in Shanghai 2010. He is professor of international economics at the Faculty of Economics at Tor Vergata University in Rome and is Chairman of the Fondazione Manlio Masi, National Observatory for Internationalisation and Trade. He has written or edited twenty books and over sixty articles published in specialist magazines on issues relating to International Economics, Public Finance, Labour Economics, Macroeconomics and Applied Economics. In 2005, President Carlo Azeglio Ciampi appointed him Cavaliere di Gran Croce.
Alessandro Decio is Chief Executive Officer and General Manager of SACE. He started his career at IMI Capital Markets in London, where he then worked for over five years at the European Bank for Reconstruction and Development, after an MBA at Insead and experience at McKinsey. Subsequently, he joined UniCredit to support the international development of the Group. He led the banks of the UniCredit Group in Croatia, Bulgaria and Turkey, before returning to Milan in 2010 taking on responsibility as Global Head of Retail. In 2012 he became Group Chief Risk Officer, member of the CEO Office and of the Executive Management Committee. In March 2016 he joined ING Bank Italia, holding the position of Chief Executive Officer, and then in June 2016 he headed SACE, where – in accordance with the indications of the Cdp Group’s Business Plan 2016-2020– the “Italian export and internationalisation hub” was set up by integrating and strengthening the insurance and financial activities dedicated to supporting the exports and international growth of Italian companies.
Alessandro Decio
Since June 2016 she has been an independent member of the Board of Directors of SACE. A successful entrepreneur in the wine sector, she is Chairwoman of the Allegrini group, where for over thirty years she has been responsible for marketing and development, promoting the family company’s wines and Valpolicella worldwide. The Allegrini name today refers to a consolidated group of four companies spread throughout Veneto and Tuscany. Marilisa Allegrini is the founder and Chairwoman of ISWA (Italian Signature Wines Academy), an association of 7 companies with the aim of supporting and defending the value of the wine assets of the respective regions and together addressing distribution and internationalisation strategies. She is also a member of the Board of the Consorzio del Vino Brunello di Montalcino.
Antonella Baldino is Chief Business Officer of Cassa Depositi e Prestiti, member of the Board of Directors of SACE, SIMEST, Istituto per il Credito Sportivo and FINTECNA, and Deputy Chairwoman of Eltia (European Long-Term Investors Association). With a degree in economics and commerce and a Master degree in international economics, she has gained broad experience in the structuring and management of financial instruments and extraordinary operations both at the Ministries of Economic Development and of the Economy and Finance, where she was a member of the Board of experts in the Treasury Department, and at leading banks such as Unicredit, Capitalia and Mediocredito Centrale. Previously she gained experience abroad at the World Bank and UNCTAD.
Since 2016 he has been an independent member of the Board of Directors of SACE. He has been Chief Executive Officer of Pirelli Industrial since October 2016. He joined the Pirelli Group in 2012 and since then he has been Executive Chairman of the Group in Latin America. Before joining the Pirelli Group, he gained 25 years’ experience in key positions in Europe and South America in the infrastructure and TMT sector. Among the various positions he has held, he has been Chief Executive Officer of the Italian newspaper La Repubblica. He has been Chief Executive Officer of the Seat Group and of Wind Telecomunicazioni, as well as Chairman for South American operations of Telecom Italia, where he led Tim Brasil to success. He has also been Senior Advisor for the Dutch private equity boutique Cyrte Investment. He has been a member of the BoD of various listed companies, including Terna Spa. In 2009 he was awarded honorary citizenship of Rio de Janeiro for his business merits.
She has been a member of the Board of Directors of SACE since 2017. Since June 2016 she has been Chief Financial Officer of CDP Immobiliare and CDPI Sgr. She joined the Cassa Depositi e Prestiti Group in 2007 where, among other offices, she was Head of Public Interest Lending, Head of the Project Assessment Team and Head of Corporate Financing. Previously she held key positions in Banca OPI, SanpaoloIMI Private Equity and TIM.
Alessandra Ferone
He has been an independent member of the Board of Directors of SACE since June 2016. He is Chief Executive Officer of Arpinge and Adjunct Professor at LUISS Business School, where he also runs the International Finance course for the Master in economics. He has gained wide experience in project financing, real estate funds and private equity, with executive roles at Mediocredito Centrale and Schroder, and at the head of bodies such as ANCE, F2i, Ream SGR and Fimit SGR. He has been a director of various companies, including BNP Paribas REIM SGR, Invimit SGR and Geoweb. Among his international roles, he was a member of the group of experts set up by the European Commission on closed and real estate funds and of the Frankfurt Club. He has written papers and research studies on financial innovation, credit systems and financial markets, and has written several published works and collaborates with national newspapers.
He became a member of the SACE board of directors in 2017. He is a senior partner of Cartesius Advisory Network, a global merchant specialized in strategic advisory and investment banking. He is also a senior advisor of EY, with a focus on finance, especially in the infrastructuring, energy, and oil&gas sectors. As an equity partner of Simmons & Simmons, and then DLA Piper, he served as assistant and advisor in corporate finance for the structuring of leveraged and management buy-outs, in forming joint ventures, and in private equity and M&A. In the banking and finance area, he has provided professional services to various national and international banks and financial institutions in the areas of banking, project finance and PPP, real estate finance, and acquisition finance (financing contracts, syndicated loans, bond issues, structured finance, and issuance of guarantees and security packages). He also has experience in privatization processes, with particular reference to the liberalized sectors, energy, water and essential public services. He has been a board member of Sofipa, Arena, Metro5, and Aurelys asset management.
He has been a member of the Board of Directors of SACE since 2017. He is a Director at the Ministry of Economy and Finance, Treasury Department, Head of financial operations. He graduated in political science at Sapienza University in Rome; in 1985 he completed an MA (Econ) at Victoria University in Manchester. He was on the Board of the European Reconstruction and Development Bank from 1991 to 1995 and on the Board of the European Investment Bank from 1996 to 2000. In 2002 he took part in the Kananaskis G8 summit as the finance Sous-Sherpa. From 2003 to 2012 he was member of the Board of Directors of Fintecna SpA and from 2012 to 2015 of the Board of Directors of Ipzs SpA.

Governance: other companies of the Group

SACE SIMEST originates from the union of different companies, each has its own internal structure.














Board of Statutory Auditors

The Board of Statutory Auditors oversees the compliance with the law and the Articles of Association, in respect of the proper administration principles, the adequacy and correct functioning of the organisational, administrative and accounting structures.

Franco Tutino Chairman

Roberta Battistin Standing Auditor

Giuliano Segre Standing Auditor

Antonia Di Bella Deputy Auditor

Francesco Di Carlo Deputy Auditor

Guido Carlino Acting Representative of the Court of Auditors

Independent auditors PricewaterhouseCoopers S.p.a. | Auditor Alberto Buscaglia

Legality and transparency are the founding principles of our activities

SACE operates within a governance system which defines the means and rules for managing and controlling the company. This system is founded on prevention and control arrangements represented by the Code of Ethics and by the Organisation, Management and Control Model.

The Code of Ethics expresses the values and principles which must be observed by directors, statutory auditors, external auditors, managers, employees, contractors and third parties who have relationships with SACE and its subsidiaries.

The Organisation, Management and Control Model is addressed to directors and all those holding representation, administration and management positions within the company; to people bound by employment contracts and to third parties linked by subordinate or parasubordinate employment relationships. The Model has the following purposes:

  • allow SACE’s exemption from administrative liability should offenses be committed
  • improve the corporate governance system
  • set up a structured and consistent prevention and control system aimed at reducing the risk of offenses committed in relation to corporate activities
  • spread, among all individuals working in the name and on behalf of SACE, awareness that any offences committed may incur not only personal but also corporate sanctions
  • inform all those working in any capacity in the name, on behalf or in the interest of SACE that the violation of the provisions of the Model shall result in sanctions, including the possible termination of employment
  • reaffirm that the company does not tolerate unlawful behaviour, since contrary to the ethical principles upon which it is based
  • actively reprimand any behaviour which violates the Model, through disciplinary or contractual sanctions.