CSFB Italian legal chief quits for bank role

CREDIT Suisse First Boston (CSFB) head of Italian legal affairs Raffaele Rizzi has quit to join Italy’s third-largest bank as general counsel.

Rizzi, who has been at CSFB for seven years, will be joining Tuscany-based Banca Monte dei Paschi di Siena in January, when he will succeed Pasqualino Pauleso, who is retiring from the role. He is leaving CSFB at the end of December.

Monte’s principal activity is retail banking, but it also has an investment banking arm that was launched two years ago.

Rizzi said: “I believe it’s a great opportunity. Also, it was time to move because I’d always intended to return to Italy at this stage of my life.”

Rizzi added that his first task will be to restructure Monte’s legal department. The bank currently employs approximately 150 lawyers based all over Italy.

“My first job will be to bring the legal team together; at the moment they’re all over the place,” he said.

CSFB has so far not found a successor to Rizzi.