Intesa Sanpaolo: Messina (CEO), 10 billion subsidized loans to companies that hire young people and women

“We are working to bring ten billion in subsidized financing to companies that hire young people and women, with a logic similar to the IRES bonus. The government uses the fiscal lever, we use subsidized rates”. This was stated to La Stampa by the managing director and CEO of Intesa Sanpaolo, Carlo Messina, explaining that “in particular, we are looking at companies that invest in new technologies and create new jobs. We are convinced that it is possible to associate increased competitiveness, productivity and new employment. Bringing young people into the company can represent a new growth engine for the country”. As for the proposal by Minister Marina Calderone that wages should be more closely tied to productivity, “the economic theories are very correct, perfect, but in my opinion wage levels should increase when companies make more profits. Today even those who earn two thousand euros a month are part of those working poor who are unable to absorb an unexpected event at home. At Intesa Sanpaolo we have raised salaries by over 400 euros a month, based on the principle that “if we make more profits it is right to redistribute them to the people who work in the bank”. Naturally, guaranteeing dividends to shareholders”. It is a world that “exists. In our country, for example. And there are really many companies that make significant profits; the interests of those who invest and those who work can be protected”.

On the “minimum wage”, the number one of Intesa Sanpaolo explained that he is “against slogans. Let’s not make the minimum wage a totem. Let’s focus on human capital. Young people, women, over 50s, low wages. This should interest us. I say this knowingly: with one hundred thousand employees – seventy thousand of which are in Italy – we are the country’s leading private employer. For those who run a company, protecting workers is a priority”. It is “also possible to do”, the banker specified. On young people, he continued, “I believe it is absolutely necessary to recover the NEETs. One and a half million boys and girls who do not study and who do not work. Making an effort to ensure that they return to study or look for a job can become a further important driver of growth. We, with the Cariplo Foundation, have created a project that moves in this direction. Just as we have important projects aimed at young people together with the Compagnia di San Paolo. And we are committed to the same theme with the other shareholder Foundations”. Asked if the same considerations made for the private sector apply to public employees, "it is a sector I am less familiar with, but I think some principles could be similar. Reduce inefficiencies, cut unproductive expenses and bet on the quality of those who work with you. It always applies," said Messina.vsfine