Storia di un capitale dinamico e paziente. Da 170 anni | CDP

Cassa Depositi e Prestiti. The 170-year history of a dynamic and patient investor

A new book published by Il Mulino looks at the historical role played by CDP

"An institution that has always been present during the crucial moments of Italian history". This is how Paolo Bricco describes Cassa Depositi e Prestiti.

In this book published by Il Mulino, the author - a correspondent for Il Sole 24 Ore and a long-standing expert on major economic and industrial policy issues - traces CDP’s history, from its foundation in 1850 to the present day. The book tells the story of more than one and a half centuries of CDP’s history: Italian unification and the introduction of postal savings; the great economic transformations of the late 19th century and Cassa Depositi e Prestiti's assistance in the event of emergencies and natural disasters; the industrial modernisation in the early 20th century and financial support for local authorities; the economic crisis of the 1930s and CDP’s role as a strategic partner to central institutions; policies for the South after World War II and CDP's commitment to the country's industrial recovery; privatisation and transforming Cassa Depositi e Prestiti into a joint stock company; the role of the banking foundations and the expansion of CDP’s business activities, leading up to a new industrial era in recent years, with a return to regions and Cassa Depositi e Prestiti's role as a dynamic and patient investor.

As a result of its role in collecting and reinvesting postal savings, the Group based in Via Goito established itself as a true financial institution. 170 years since its foundation and after becoming a joint stock company, CDP is still a key institution for the development of infrastructure, strategic companies and Italy’s industrial economic system today. It supports the national economy and plays an active role on the global stage.

The author had to carry out extensive historical research in Italy’s main archives to write this book. Cassa Depositi e Prestiti also granted access to its collection of papers and documents - often unpublished - which were necessary for reconstructing its history.

The book also includes testimonies from key figures from Cassa Depositi e Prestiti over the last twenty years and its current senior management, Chairman Giovanni Gorno Tempini, and CEO Fabrizio Palermo.