Governance

Governance System

To be truly efficient and ensure the absence of conflicts of interest or other risks, the governance system must be based on a governance structure that is able to ensure that the individual roles are clearly defined and kept separate.

In this perspective, our governance structure adopts a traditional system of administration and control based on the functional organisation of three independent bodies:

  • The Board of Directors
  • The Board of Auditors
  • A number of Internal Committees.

Governance Structure

Board of Directors

Antirion’s Board of Directors oversees the ordinary and extraordinary management of the company, performing all tasks required to achieve the company purpose. Moreover, it is responsible for strategic supervision, which is performed by determining the investment policies for the funds and assets managed by the AMC, as well as by defining the corporate strategies.

Within the asset management activities, the Board of Directors establishes the funds, by approving their relative management regulations, and defines the general strategies for managing the fund portfolios.

The Board of Directors is composed of five members, including two independent directors:

Franco Passacantando / Chairman

Since 2015, Independent Member of the Board with Salini Impregilo S.p.A. Since 2016, Independent Member of the Board with Euroclear Plc and Euroclear SA/NV. From 2010 to 2016, consulting services provided to the World Bank Treasury. From 2008 to 2013, Member of the Board at Società Italiana di Iniziative Edilizie e Fondiarie (SIDIEF). From 1981 to 2013, manager at the Bank of Italy, also in charge of the Bank’s capital funds and market investments, completing his experience as Vice Governor. From 1995 to 2003, Member of the Board of the World Bank and Chairman of the Audit Committee.

Ofer Arbib / Chief Executive Officer

After working abroad for several years, in 2000 Ofer Arbib moved to Italy and launched the real estate Web portal casaclick.it, later transferred to Gruppo Pirelli, with which he had previously collaborated. At the end of 2001 he became CEO of Elitrade, a company founded in 1996 in Milan, at the helm of which he managed the evaluation, acquisition, sale and unbundling of many real estate portfolios. In 2005 Elitrade became Colliers Elitrade, now Colliers international Italia, one of the major players in the international real estate advisory industry. Arbib has served as the company’s CEO for 8 years. In 2012, Arbib and a number of partners took over Antirion SGR and in May 2018 he became the company’s CEO.

Roberta Casali / Independent Director

Since July 2018, Independent Board Director of Banca Monte dei Paschi di Siena. From 2007 to January 2017, she was a manager of the Corporate and Investment Banking Division of Intesa Sanpaolo S.p.A., Member of the Board of IMI Investimenti S.p.A., Centro Factoring S.p.A. (and Centro Leasing S.p.A.. From 2004 to 2006, Head of Governance Functions at Banca Caboto S.p.A. (now Banca IMI). From 1989 to 2004, she was a manager and director in the Area of Payment System and Markets of Banca d’Italia and Member of several Committees and Working Groups, both at domestic and international level. From 1997 to 2003, she was a member of the Working Group on Retail Payment Systems of CPSS (now Committee on Payments and Market Infrastructures) at the Bank for International Settlements in Basle.

Luigi Ginetti / Independent Director

Since 2007, Member of the Board of GEOSER S.r.l. From 2006 to 2011, Member of the Board of Fin. Est S.p.A. From 1998 to 2001, Member of the Board of Concrete S.p.A. From 1996 to 2001, CEO of Gen.Co S.r.l.

Roberto Nicosia / Director

In 2016, Roberto joined Colliers International Italia as Managing Director and he has since been contributing to the growth of Colliers International on the Italian market. Throughout his 30-year career, he has built a strong advisory expertise for corporate and institutional clients. His working experiences range from the office to the industrial and retail sectors. His skills include Property Evaluation, Agency Office, Corporate Services, Tenant Representation, Property Development Services, Capital Markets and Advisory. Over the course of his 20-year managerial experience, Roberto has led a team of 40 advisors at BNP Paribas Real Estate, where he’s served as Chief Executive Office for 9 years. Previously, he had been Country Manager at Jones Lang LaSalle for 7 years and Head of Corporate Division at Gabetti.

Board of Auditors

The main task of the Board of Auditors is to monitor compliance with applicable laws, the Articles of Association and the principles of correct administration. In particular, it monitors the suitability and operation of the company’s organizational, administrative and accounting functions, as well as the allocations established by the applicable special laws.

The Board of Auditors is composed of three statutory members and two deputies, each of whom meets the requirements set forth in the applicable laws, and of course complies with the requirements of integrity, professionalism and independence required by the sectoral regulations:

  • Gianpaolo Colnago, Chairman
  • Andrea Magnoni, Statutory Auditor
  • Massimo Gallina, Statutory Auditor
  • Elena Albertoni, Deputy Auditor
  • Gian Luca Milanesi, Deputy Auditor.

Internal Committees

Each with their own specialisation, the Internal Committees express mandatory and/or binding opinions about the business plan of each fund, any operation in conflict of interests and investment/disinvestment operations.

Each Internal Committee is composed of members with extensive experience in the real estate, financial, fiscal, economic or legal fields.

The company has a Code of Ethics and an Organisation, Management and Control Model pursuant to Italian Legislative Decree 231/2001 concerning the “Rules on the administrative liability of legal entities, Companies and associations, with or without legal status”.

Code of Ethics (Italian)
Organisation and Management Model Ver 1.2 2015.12.18 (Italian)