BCCI Focus on Italy 2008_December Edition by Elena Marchese

Focus on Italy. The British Chamber of Commerce for Italy — #17 —

Supplement to Britaly # 199/2008

FOCUS on Italy

Number Overwiev p17 Focus Liguria p39 Dtz, one of the “big four” p41 Italian Real Estate: Toscano Group p43 An overview on Italian real estate p44 About AIdAF, Family Business Italian Association p45 Sutter, 150 years of history for a family brand p46 Azimut-Benetti p47 Britain's most exclusive business club p48 The Britain’s oldest building company p51 Royal College of Art p53 Accademia di Belle Arti di Brera p55 Expo 2015 p63 Relais & Châteaux: the road of happiness p68 Family business and the continuance of firms. Supported by

Contents

The British Chamber of Commerce for Italy • BCCI • Chamber Officers & Staff • Commercial Services • Language Services • In the Region • Communication Services • Sustaining Members • New Members

6 7 9 10 11 13 14 16

Focus Regione Liguria • Why Liguria? • Genova: un porto sicuro per il continente europeo • Leonardo diventa un Brand Hi-Tech • Lifting al più grande Lido d’Europa • Telerobot

17 19 20 21 23

Company Profile • Con il FAI per il patrimonio italiano • Dexia, Private Swiss Bank based in Lugano Bcci Members Profile • Ambienta • Barclays • British Council • Cushman & Wakefield • Darwin Airline • DLA Piper • FW Stephens International Limited • Novaseta • Hotel Sheraton Diana Majestic • Studio Legale Amorese • Visit Britain Milan-London Real Estate • DTZ • Toscano Group • An overview on Italian real estate investment fund structures and regulation Success Story • Aidaf • Sutter • Azimut • The Tercentenarians' Club • R. Durtnell & Sons • Twinings tea • Family business and the continuance of firms Art & Culture • Serpentine Gallery • Royal College • Accademia di Brera Italian Excellence • EXPO 2015 • Talking with Arch Nic Bewick • Milano punta al “meglio” verso Expo 2015 • Lanterna, a very delicious sponsor for EXPO Hotels • Relais & Châteaux: the road to happiness

Publication Authorized by the Milan Courts, permit no. 761 issued on 7-12 1990 2 number 2008 December 2008 Publisher The British Chamber of Commerce for Italy Via Dante 12, 20121 Milano T. 02 877798 - F. 02 86461885 www.britchamitaly.com bcci@britchamitaly.com President David Crackett Editor Kelly Ben Frech

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Publication Supervisor Paola Bettinelli / Elena Marchese

26 27 28 29 30 31 32 33 34 36 37

Authors in this issue David Crackett, Andrea Pericu, Enza Di Marco, Mauro Cozzi, Caterina Marinato, Jonathan Gibson, Simona Rendo, Jill Martin, Clara Zanussi, Massimo Boni, Alberto Angeloni, Richard de Jongh, Margherita Grosso, Casey W. Halladay, Marco Amorese, Martin Davis, Ilario Toscani, Gianfranco Santojanni, Maurizio M. Maiano, Gioacchino Attanzio, Oriana Boselli, Gianbenso Borgognoni Vimercati, Gianluca Brancadoro, Giorgio Romano, John G Wood, Nic Bewick, Franco Bordato, Paolo Soldateschi, Julia Jeffers

39 41 43 44 45 46 47 48 49 68 50 51 53 55 59 60 62 63

The BCCI would like to thank this issue's advertisers: Barclays, Aviva, Charm&Relax, Banca Dexia, Banca Syz, Attivo Global Learning, Intertek.

• The magazine “Focus in Italy” has always been completely in English. For this new editino, the Chamber’s strategy plans a perfect integration between UK and Italy. So the publication of some articles in Italian must be seen as a cultural integration of the two countries. The middle-term objective i sto iusse a bilingual magazine. Each author will use his own language. Focus on Italy

BCCI - Welcome by David Crackett

The English Speaking Business Community

Following the first issue of the new Focus, which was greatly appreciated by members and readers, we now present the second edition of our main Chamber publication. Focus on Italy is a user-friendly magazine for business and pleasure in Italy. Full of facts, figures, forecasts, essential information and articles drawing on the experiences of members working in Italy and much more.

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The British Chamber of Commerce for Italy prides itself on being the major point of reference for the English- speaking business community, building networks and opportunities of great quality and value. Established in Genoa in 1904, its headquarters are now in Milan with regional branches operating throughout Italy. With more than 450 members, representing a wide range of Italian and British companies, the Chamber has helped countless individuals to succeed in business in Italy and the UK. Doing business involves trust, and while a lot of business can be done online with no physical contact, we believe that nothing beats meeting people face-toface. Thatâ&#x20AC;&#x2122;s why we organise businessorientated events with high-profile speakers, numerous seminars and a

The Chamber has helped countless individuals to succeed in business in Italy and the UK

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wide variety of events of a less formal nature in many Italian cities (and in London) to enable like-minded people to get together in pleasant surroundings, taking care of each detail. With over 80 events already scheduled between 2008 and 2009, your chances of meeting someone who has the exact solution to your problem, or who needs precisely the goods or services that you can provide, are guaranteed. We can truly help you and your company flourish in a fast and effective way, providing you with great contacts, high-level introductions, information sources and trade-related services. With two important dates to keep in your calendar London Olym-

pics 2012 and Milan Expo 2015, why wait any longer? Join us today. Get involved! Take part in our events, log into our community! We can guarantee the welcome you receive will exceed all of your expectations. We have a lot to offer and a lot to be proud of. The tremendous support and enthusiasm of our Members, the Council, the Regional Representatives and most importantly the Director and the Staff have made this possible. My warmest thanks, therefore, go to all who have supported the Chamber over the past year and continue to do so. Farewell to & Welcome to After almost two years at the Chamber, it is now time for us to say farewell to Kelly Ben Frech and welcome Simona Frignani as the new Secretary General of the BCCI. Kelly, young and dynamic, but with a 10 year working experience, brought a lot of positive changes and ideas to the Chamber and its activities, showing great dedication and passion for her job. We wish her all the best for her new career and now give a warm Welcome to Simona Frignani who will be appointed as of January 2009. Simona graduated from Siena University with a degree in Political Science. She then spent some time in Luxembourg and Brussels at the European Parliament and offices of ConfCoop respectively. On her return to Italy, she built a career in marketing and communication, with Deloitte and Accenture, then in Ecoway, an innovative environmental consultancy, and latterly Mamy's, a wealth management practice. Simona, married to an Englishman, has one child. Her interests include wine (she is a part qualified sommelier) and interior design. All the best to both of them!.

David Crackett President of the British Chamber of Commerce for Italy

David Crackett is a Fellow of the Institute of Chartered Accountants in England and Wales, a Registered Auditor in Italy and has been a Partner in Deloitte in Italy for more than twenty years.

Focus on Italy

BCCI

British Chamber of Commerce for Italy

BCCI is a private, non profit making entity that works closely with the British Consulate General in Milan and with the diplomatic posts in Naples and Florence, as well as with the British Embassy in Rome. It represents in Italy the interests of the Confederation of British Industries and the British Standards Institute. It also maintains ties in Great Britain with the Department of Trade and Industry and with the Association of British Chambers of Commerce and – throughout Europe – with COBCOE, the Council of British Chambers of Commerce in Continental Europe. The BCCI was founded in 1904 in Genoa but today its headquarters are in Milan. Regional branches of the Chamber are operative throughout Italy and there is also a secretary in London. The Chamber has about 400 members, for the most part Italian and British companies, including branches of British businesses operating in Italy, Italian companies that have trade relations with the United Kingdom, service providers and professional consultants. We believe that the Chamber’s fundamental mission is to serve our Members well, remembering at all times that, besides being Members, they are our main source of financial support. We anticipate their needs and do our utmost to satisfy them, by providing a service of excellent quality and value.

Our Objectives The BCCI’s objectives can be summarized as follows: • To serve as a point of reference for British commercial interests in Italy and to provide congenial meeting opportunities for business men and women, particularly British and Italian • To provide services and advice to both private individuals and companies, who may not necessarily be Chamber Members but who intend to start a business activity in UK or in Italy

Focus on Italy

• To support the British export development activities of departments of the Foreign and Commonwealth Office (FCO) with a view to facilitating trade between Italy and the United Kingdom

It allows them to network and discover shared areas of interest; it allows them to identify new trends and share new business ideas. In a very real sense, BCCI is at the heart of UKItaly trade.

• To offer Members a full range of services in the areas of trade, business promotion and both business and social networking • To encourage Italians to study English in Great Britain and other English speaking countries throughout the world, taking advantage of the services offered by the English Language Consultancy Service (ELCS) • To promote specialized language learning (commercial and legal), through the International Professional English Certificate (IPEC)

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Building Networks Connecting Businesses Creating Opportunities Inspiring Innovation

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There are clearly many reasons for joining The British Chamber of Commerce for Italy and being a member opens up a world of opportunities within the Italian – British business community. The Chamber is a unique focal point for a wide variety of people and businesses looking for contacts, ideas, advice and stimulation. The Chamber also offers many opportunities to socialise and make new friends. Whether a large multinational company or a freelance individual the Chamber has something for you.

BCCI Events The British Chamber of Commerce for Italy organises a number of events in the firm belief that creating opportunities for networking is essential for doing business. Events organised by the BCCI include: • Monthly Milan business lunches • Sustaining Members’ dinners • Monthly social evening in Milan • Round Tables, seminars and conferences in collaboration with other European Chambers • Cultural and business events in collaboration with Chamber Members • Annual golf day • Wine club including Wine Trips and Wine & Cheese Tasting • Regional lunches and activities

Join us! Visit our website

www.britchamitaly.com For information and membership British Chamber of Commerce for Italy Via Dante, 12 20121 Milano Tel. +39 02 877798 bcci@britchamitaly.com

The British Chamber of Commerce for Italy provides a focus and a forum for daily interaction of a very large number of individuals and companies.

www.britchamitaly.com

BCCI - Chamber Officers & Staff

BCCI Team

The Council of the British Chamber of Commerce for Italy is composed of voluteers high international profile representatives from over 30 Member organizations. The Chief Executive and her team have been selected to look after the day to day running of the BCCI.

HONORARY PRESIDENT • Edward Chaplin OBE, CMG HM Ambassador HONORARY VICE PRESIDENT • Laurence Bristow-Smith Director Trade & Investment HM Consul General PRESIDENT • David Crackett Deloitte & Touche Spa VICE PRESIDENT • Michael Taylor Norton Rose • Colin Vincent Barclays Bank Group TREASURER • Arnaldo Carpi Studio Arnaldo Carpi COUNCILLORS • Stephen Anderson British Consulate General Deputy Consul General • Massimo Audisio Tosetto,Weigmann & Associati • Alessandro Baroni HSBC Bank Plc

• Richard Slater Simmons & Simmons • John Stewart FIS Fiduciaria Generale • Chris Stokes Key2People Executive Search • Bart Verhagen UBS HONORARY COUNCILLORS • Hugh Malim Barclays Bank Group • John Murphy Buroservice Snc • Carlo Orlandini S.E.I.C. • Henry Putnam Right Management Consultants Srl • Harry Richter • Leonardo Simonelli Italian Chamber of Commerce and Industry for the UK HONORARY AUDITORS • PricewaterhouseCoopers Spa

• Richard Bastin Euro Investigation

HONORARY TAX ADVISORS • Anna Sfondrini Studio Bernoni

• Colin Jamienson Studio Pirola Pennuto Zei e Associati

• Giuseppe La Naia La Naia & Partners

HONORARY LEGAL ADVISORS • Alberto Cajola Studio Legale Cajola & Associati

• Pier Carlo Marengo Aviva-Italia • Maria McCarthy Caledonian Communications

Chamber Staff • Kelly Ben Frech Chief Executive k.benfrech@britchamitaly.com • Maria Rosa Allegra Commercial Services & Business Development m.allegra@britchamitaly.com • Elena Marchese Marketing & Communication e.marchese@britchamitaly.com • Tomaso Ferrario Administration amministrazione@britchamitaly.com

Consultants Susan Boyle English Language Consultancy Service elcs@britchamitaly.com David Gibbon International Professional English Certificates ipec@britchamitaly.com

• Enrico Radice Studio Legale Radice • Richard Slater Simmons & Simmons

• James Meikle Cushman & Wakefield

Focus on Italy

BCCI - Commercial Services

VAT, Credit Collection, Meeting Facilities

The British Chamber of Commerce for Italy offers a full range of business services, either through its own means or through those of its Members, who are experts in their respective fields and offer efficient, effective services at advantageous conditions. VAT Recovery On the basis of the reciprocity agreement existing between Italy and UK, it is possible for Italian and British companies to reclaim Value Added Tax (“Imposta sul Valore Aggiunto”). The British Chamber of Commerce for Italy delivers this service, handling the procedures involved as well as contacts with the appropriate fiscal authorities. Companies wishing to take advantage of the service send their relevant documentation to the Chamber where it is examined and VAT refund application forms are prepared, in compliance with the terms and regulations provided for by law. The application is then forwarded to the appropriate office by staff experienced in dealing with Ministry departments. The state of progress of the application is constantly monitored and reminder action taken to ensure things proceed rapidly. The client company is updated regularly on progress, until the process has been completed and the refund received.

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The British Chamber of Commerce for Italy offers a full range of business services, either through its own means or those of its members

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How the British Chamber Commercial section can assist you? Please contact Maria Rosa Allegra • by calling +39 02 877798 or by writing to • m.allegra@britchamitaly.com

Credit Collection The British Chamber of Commerce for Italy offers a credit collection service aimed mainly at firms and/or individuals who wish to recover outstanding credit in Italy, but also at Italian companies or individuals who have credit in the UK.

Creditors can count on the prestige of an institution officially accredited by the UK government, and on the professional skills of qualified and experienced Chamber staff, as well as outside consultants. Successful action can be taken and results obtained more quickly and at a lower cost than with legal proceedings. How the British Chamber Commercial section can assist you Please contact Maria Rosa Allegra •by calling +39 02 877798 or by writing to • m.allegra@britchamitaly.com

Office and Meeting Facilities The British Chamber is also able to provide companies with a meeting room in the Chamber’s premises right in the centre of Milan, Via Dante for members who wish to take advantage of this service. The facilities offer an ideal venue for small business meetings held by entrepreneurs whose professional commitments occasionally bring them to Milan and call for a private, functional space. The Chamber’s offices are centrally located and easy to get to. Feel free to book the meeting room • phoning +39 02 877798 or by writing to • bcci@britchamitaly.com

Full range of business services through its Members Last year the BCCI developed a project with the aim of increasing the visibility of those members who are interested in promoting their business through the sponsorship of a commercial service webpage. While the British Chamber of Commerce for Italy promotes a wider range of commercial services via Internet and throughout its respected and consolidated global network belonging to a centenary Institution, the sponsor can take advantage of wide-

spread visibility among Trade Associations, Chambers of Commerce, COBCOE (Council of British Chambers of Commerce in Continental Europe), British Institutions and companies in Italy and Great Britain with which close-partnership relationships are constantly kept. Considering the success of this initiative, we are going to create further new services very soon. A few of them will be also related to the leisure and/or entertainment environment: “Would you be interested in a team building activity while sailing the Italian lakes? Or, would you prefer to spend your prefer to spend your spare time in a comfortable spa? Both companies and individuals can benefit from this service, as our website is visited by BCCI members and many other people. The existing services are: • Due Diligence in Italy and UK • Business Investigation • Market Research • Payroll • Translation • Company Formation • Offices and Meeting Facilities • Import/Export Services • Interpreting • Certification and Training • On Line Recruitment/CV • Gift Corporate • Resorts If the service you require is not mentioned in the above list, the BCCI prides itself on being able to find the most suitable service provider amongst its Members, whatever your business needs. If you feel that your company could fit well in the commercial section of the BCCI website, or wish to discuss business opportunities in Italy and the UK, please contact Maria Rosa Allegra, Commercial services & Business Development: • by calling +39 02 877798 or by writing to • m.allegra@britchamitaly.com

Focus on Italy

BCCI - Language Services

International Professional English Certificates (IPEC) & English Language Consultancy Service (ELCS) The British Chamber of Commerce for Italy offers Italians a comprehensive service designed to meet their English learning needs.

• Students •Cover Speak to the world

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The service moves in two directions: ELCS provides full information and advice for people who intend to study English “on site”, in England, the USA or elsewhere. IPEC is a benchmark qualification, at several levels, for English as a second language for use in business, the legal sector and many other specialist areas.

The British Chamber of Commerce for Italy offers a free consultancy service for anyone wishing to improve their English abroad

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International Professional English Certificates (IPEC) The British Chamber of Commerce IPEC examinations continue to expand both in terms of the number and variety of users and in terms of the level and choice of examinations offered. Currently the basic IPEC examinations are offered at three of the levels established by the Council of Europe: Entry (Threshold B1 Level), Executive (Vantage B2 Level), and Excellence (Effective Proficiency C1 level), while the Legal English Module which was developed in collaboration with Milan’s Just Legal Services is now available on a regular basis at B2 and C1 levels and is recognised as an external qualification for the degree course in law at Milan’s Bocconi university. An Environmental English Module and the Enological English Module for sommeliers have also been trialled.

Focus on Italy

The certificates are recognised as “crediti formativi” in Italy, and are also used or recognised as credits by several important Italian universities. Apart from the universities, other users include “Istituti Superiori”, private language schools and individual students. Features of the examinations appreciated by our users include the challenging and stimulating nature of the examination materials, the flexibility in terms of availability at any time for groups of any size, the rapid turnaround of results and their topicality and authenticity. We have an agreement with the prestigious British magazine “Management Today” for the use of their articles as texts in our examinations. Naturally, the fact that the examinations are offered by the British Chamber of Commerce, apart from guaranteeing their direct relevance to the world of work, and the high quality of their preparation, offers a unique benefit both to users and to members of the Chamber. For more information please visit our website: www.britchamitaly.com Or call David Gibbon • by phoning +39 02 877798 or by writing to • ipec@britchamitaly.com

English Language Consultancy Service (ELCS) The British Chamber of Commerce for Italy offers a free consultancy service for anyone wishing to improve their English abroad.

The English Language Consultancy Service was set up in 1986 with the aim of providing as much information as possible about the best English language schools in Britain. However, since the turn of the century when global horizons widened, so have those of the ELCS. We are able to counsel students for quality courses in recognised schools in all English speaking countries. Through visits to the schools in Europe and keeping in close contact with the rest, we have got to know these organisations well and consequently can steer prospective students towards the schools that best suits their needs. The feedback we have received shows that we made the right choices. In the 22 years of our existence we can boast having advised thousands of students and solved hundreds of problems. Not only that – by Jove - but we’ve helped them to learn English too! Whether you want to study in Cambridge or Cape Town, in London or Los Angeles, for one week or for one year, one of our partner schools will have the course you are looking for. Don’t delay – call us today! Visit our website: www.britchamitaly.com For information or appointments, please contact Susan Boyle • by phoning +39 02 876981 or by writing to • elcs@britchamitaly.com

BCCI - In the Regions

Regional Secretary

Throughout Italy’s regions change is in the air and new business opportunities continue to emerge. The BCCI is in touch with these evolving scenarios and its Regional Secretaries are ready to provide the advice, insight and support needed. Besides Lombardy the BCCI is represented in ten different Italian regions by Honorary Regional Secretaries, all active in their local business community. Lombardia

Liguria

London

Milan Head Office • Kelly Ben Frech - Chief Executive Via Dante, 12 20121 Milano Tel. +39 02 877798 Fax: +39 02 86461885 bcci@britchamitaly.com

• Andrea Pericu Pericu Prof. Avv. Andrea Viale Padre Santo 5/8 16122 Genova Tel. +39 010/84621 Fax: +39 010/813849 Andrea.Pericu@beplex.com

Lombardia East

Piemonte

• Alistair Newell Banca Lombarda Via Cefalonia 62 25175 Brescia Tel. +39 030/2473396 Fax: +39 030/2473625 alistair.newell@bancalombarda.it

• Guido Vasapolli Vasapolli & Associati Piazza Carlo Emanuele II 13 10123 Torino Tel. +39 011/5611319 Fax: +39 011/540586 contacts@vasapolli.it

• Cav. Grand’ Uff. Michael Nathanson OBE Laytons Solicitors Carmelite 50 Victoria Embankment Blackfriars London EC4Y 0LS Tel. +44 (0) 20 7842 8000 Fax. +44 (0) 20 7842 8080 michael.nathanson@laytons.com

Campania

Puglia

• Victor Sotunde Studio Legale Castaldo Via A. De Petris 114 80133 Napoli Tel. +39 081/5523200 Fax: +39 081/5510776 sotunde@studiocastaldo.net

• Stefania Lo Cascio Worldwide Trusts Consultants Srl Via Netti 45/a 74100 Taranto Tel. +39 099/4590880 Fax: +39 099/4590809 stefanialocascio@alice.it

Emilia Romagna

Sardegna

• Roger Warwick Pyramid International Srl Via Rivani 83 40183 Bologna Tel. +39 051/531804 Fax: +39 051/6022904 warwick@pyramid.it

• Franco Staffa Associazione Culturale Italia-Inghilterra Via Machiavelli 97 09131 Cagliari Tel. +39 070/402835 Fax: +39 070/402966 bccicagliari@tiscali.it

Lazio

Veneto

• Steven Taylor Kerdos Corporate Finance Srl Via S.Anselmo 42 00153 Rome Tel. +39 06/99706597 Fax: +39 06/99706598 s.taylor@kerdoscf.com

• Andrew Fattorini Linpac Plastics - Verona Srl Via Monte Pastello 40 37057 San Giovanni Lupatoto Tel. +39 045/9216411 Fax: +39 045/9750047 andrew.fattorini@linpac-plastics.it

Friuli Venezia Giulia & Toscana

We are also developing opportunities in these regions. For more information please contact the Milan Head office.

Focus on Italy

BCCI - Communication Services

Focus on Italy, Italy Trade Guide, Speak to the World, The History

The BCCI has various communication tools and publications created throughout the year. A monthly e-newsletter called Britaly with a listing of all our events and news from around Italy and the UK. The History of the Chamber was published to commemorate the BCCI Centenary in 2004. The Speak to the World Catalogue published each year, containing information on our member schools and the various the English language courses they offer. Last but not least Focus on Italy which is the official Chamber magazine rich in information and a great guide to business and leisure in Italy. Therefore, New offices? New Services? Press Releases? We can help you to communicate directly with the English Speaking Business Community in Italy. Contributions are welcome. For details, please contact Elena Marchese • by calling +39 02 877798 or by writing to • e.marchese@britchamitaly.com

Focus on Italy, the Chamber user-

Communications who have created similar products for a number of British Chambers across Europe. It is a valuable resource for both British companies looking at investing in Italy and for companies already in the country who want to expand their network of contacts. An online version of this new database of Members will shortly also be available. We hope you find the CD useful. If you require more copies please do not hesitate to contact Elena Marchese at the Chamber.

friendly magazine to business and pleasure in Italy, “ We can help you to is full of facts, figSpeak To The ures, forecasts, esWorld is pubcommunicate directly to sential information lished each Januthe English Speaking Business and articles drawary and contains Community in Italy ” ing on the experiinformation on ences of members all the language working in Italy. Enjoying a shelf life schools abroad that are members of of six months Focus on Italy has a print the ELCS scheme, including details of run of some 5,000 and is distributed the many English language courses ofto Chamber members, through the fered. It also carries general informaBritish Consulate, British Embassy in tion which is invaluable to a foreign Rome, hotels, business centres, airport student studying abroad for the first lounges and the network of member time. Speak to the World has a print companies’ reception areas. run of some 3,000 copies, a shelf life well beyond the year of publication To discuss advertising opportunities and is free upon request. in our Chamber Magazine, please contact our member GDS Brand ConThe History of the British Chamber sultancy, Paola Bettinelli of Commerce for Italy was published • by phoning +39 02 80583151 to celebrate the Chamber’s centeor by writing to nary in 2004. This publication covers • paola@gdsnetwork.com 100 fascinating years of the evolving business relationship between the Italy Trade Guide & Member- two world wars, and taking us from ship Directory is a CD Rom which the Chamber’s foundation in 1904 in was developed in collaboration with Genoa to the present day. UK Trade & Investment and with Chamber Member Trade & Invest

The BCCI on the Net Born in 2006 the BCCI web site has quickly become the cornerstone of the Chamber’s activities. Visited by members and many more this means of communication was created to provide a much wider range of information and guidance. Whether it be a click on our Services pages, one on our Events section or a general browse, the web site has now become a virtual platform. Following the ever growing means of technology and networking, a Forum and a BCCI LinkedIn Group were created earlier on this year to give our members the opportunity to meet and do business also in the modern virtual reality. We offer visitors all the information they need on the Chamber and its numerous activities in Milan and throughout the country. For this reason a "Regions Section" has been developed to help increase further business opportunities, promotion and contacts. Giving our Members’ businesses and the services they offer, more and more visibility the BCCI web site is now a “net-working” must. New sections are being created day by day one of these being our Leisure & Entertainment pages. So why not be unique and let us help you to develop your business network and to communicate your companies ideas? It’s all just a click away. www.britchamitaly.com

Focus on Italy

BCCI - Sustaining Members

The British Chamber of Commerce for Italy wishes to thank its Sustaining Members

Aviva

Barclays

Deloitte

HSBC

Starwood

Antezeta

Assolombarda

AstraZeneca Spa

BAA Italia Naples Internat. Airport

BG Italia Spa

Bolliger Srl

British Airways Plc

British Council

Coast Cucirini Srl

Controlfida (Suisse) SA

Coutts & Co.

Cushman & Wakefield

Diageo Italia Spa

DLA Piper

Easynet Italia Spa

Euro Investigation Srl

Finsev Spa

FIS Fiduciaria Generale Spa

Focus on Italy

Herman Miller Ltd

International Power Italia Srl

JCB Spa

Keypeople Executive Search

KPMG Spa

Leeds Legal Ltd.

Logica CMG Srl

Marsh Spa

Matica

Norton Rose

Pernod Ricard Italia

PricewaterhouseCoopers Spa

Pyramid International Srl

Reconta Ernst & Young Spa

Rentokil Initial Italia Spa

Right Management (Italy) Srl

Royal & Sun Alliance Assicurazioni

Simmons & Simmons

Serantoni e Associati

Studio Legale Ughi & Nunziante

Studio Pirola Pennuto Zei & Associati

Belluzzo

CLS Communication

Lufthansa

DMS Srl

Language Point

Martifer Solar

Novaseta

Salotto Valperga

The Chedi Milan

Focus on Italy

BCCI - New Members

New Members 2008 Member • ACADEMY SJW LONDON • AD Maiora public relations events • Asa Amrophever • Associazione Prof. Studio Maurizio Godoli • Astra Consulting Srl • Attivo Global Learning • Barbaro Simonetta • BCD Travel • Belluzzo & Associati • BURY LANGUAGE SCHOOL • CLS Communication Ltd • Currencies Direct Ltd • DMS Srl • EAC EDINBURGH • EBI - European Bureau of Investigation • English Dynamics • Ganesh Management Ltd • INLINGUA CHELTENHAM • International House Srl • INTERNATIONAL HOUSE BELFAST • INTERNATIONAL HOUSE CANADA • Jila Events • Jordans International Ltd • Language Point Sas • LSI - LANGUAGE STUDIES INTERNATIONAL • LYDBURY ENGLISH CENTRE LTD • Lufthansa linee aeree germaniche • Map Training • Martifer Solar Srl • Matica • MLS INTERNATIONAL COLLEGE • Natali Multimedia Srl • Naxa Srl • Neumann International AG • Piacentini Rigotti Dott.Comm.Ass. • Salotto Valperga • Starwood Italia Srl • The Chedi Milan - Elemata Gestion Hotel srl • TransPerfect Translations Ltd • TTI SCHOOL OF ENGLISH

Focus on Italy

Member type ELCS School Corporate Corporate Corporate Corporate Corporate Corporate Corporate Sustaining ELCS School Sustaining Corporate Sustaining ELCS School Corporate Corporate Corporate ELCS School Corporate IPEC ELCS School ELCS School Corporate Corporate Sustaining ELCS School ELCS School Sustaining Corporate Sustaining Sustaining ELCS School Corporate Corporate Corporate Corporate Sustaining Special Sustaining Sustaining Corporate ELCS School

New Members The British Chamber of Commerce for Italy welcomes its 40 new Members. As you may know, we are a private non-profit making association, established in Genoa in 1904. Over the past 100 years we have helped countless companies and individuals to succeed in business between Italy and the English - speaking world. The BCCI helps entrepreneurs, professionals, managers or employees, with their own business between Italy and the UK. We offer not only marketing opportunities, but also a wide range of solutions in order to solve any kind of business problem they might cope with. The BCCI currently has over 400 Members who take advantage of the networking and promotional opportunities offered by the Chamber as well as its many different services. There are various categories of membership to meet the different needs of our Members. To have a general chat about joining the Chamber, you should contact Kelly Ben Frech, our SecretaryGeneral; to discuss the administrative side of membership, please contact Tomaso Ferrario; commercial services can be discussed with Maria Rosa Allegra and advertising with Elena Marchese. If you need any further information please do not hesitate to contact us. We look forward to welcoming you amongst our Members.

Focus Liguria Interview with Andrea Pericu By Anna Rossi

Why Liguria ?

In the last few years, Liguria has experienced a period of great transformations, driven by the idea of making it an excellent place to live and work. This area offers very good investment possibilities, in real estate and financing of infrastructures. In Liguria, the most important economic sector has always been the shipping industry and the other economic activities related to it. With 4 ports in all, shipping is still fundamental today but there are two other very significant fields in this region: tourism and hi-tech industries. All these sectors have been enhanced in the last few years, with transformations and projects involving the Lido, the port and the hills surrounding Genoa. The interventions planned on the first two locations insert themselves in already existing structures, whereas the plan regarding the latter is something completely new. The so-called “Leonardo” project aims to build a scientific park for hi-tech industries and institutions on the Erzelli hills near Genoa. Liguria’s infrastructures still need improvement, especially the connections with the rest of northern Italy. This can be seen as a limit but also as a very good opportunity for foreign investors interested in financing their construction-work.

rian business community. I have to say that in the organization and marketing of these events I had a great support from our Executive Committee.

Liguria is famous above all for tourism between foreigner people: are there other sectors that could be considered interesting for foreigner investors? Which one? It is undoubtedly true that all cities in Liguria - and among these Genoa stands out – in the last few years have experienced e period of great transformations, which results in an urban landscape more attractive and accessible for tourists and visitors generally. In my opinion, the idea that has driven these transformations is to render Ligurian cities an excellent choice not only for a period of vacation or for a weekWhat is exactly a Reg. Secretary and end of tourism, but also the home of which is his role in region Liguria? individuals, families and companies I think that there are a number of ways which look for an excellent place of interpreting the role of Regional Sec- where to live and work. In other terms, retary, provided that the personal atti- I think that Liguria is in the condition tudes of any Regional Secretary clearly for competing with other territories in comply with the statutory duties and Italy as the place for foreign investors mission of BCCI. In this respect I think where their businesses can be based, that, first of all, my role is to provide In this respect, Liguria offers really BCCI’s members based in Liguria a good opportunities for investments service which in the real estate would hopefully sector. On the “ Liguria is in the condition other hand, we meet their exfor competing with other pectations. I also need to improve notice that, as of territories in Italy as the place all infrastructural today, the number connections befor foreign investors ” of our members tween Liguria and in Liguria is not as the rest of Italy well developed as it should be. There- and especially with the north of the fore, my effort is to try to broaden the country. But you could also think of base of people interested in knowing this as a very good opportunity for BCCI, promoting a number of events, foreign investors which are interested also at an institutional level, aimed at at providing finance for infrastructural developing the existing connections projects. There is a significant number between Liguria and the United King- of projects of this kind which need to dom and also demonstrating practical- be financed in whole or in part by the ly the role that BCCI can play in this private sector. respect. We organized in the last few years a number of events which had Genova was important in its past for considerable success among the Ligu- merchants and bankers’ activities. What

Andrea Pericu Prof. Avv.

are, in your opinion, the activities that would characterize the present and the future of the city? In the last few years the local government of Genoa and the regional government have strongly supported the idea that three sectors will drive Genoa’s economic development in the near future: the port and the shipping industry generally, hi-tech industries and tourism. The port’s figures have grown steadily during last ten years, but without reaching the recent development of certain Spanish ports or the overall numbers of North European ports, even though I think that Genoa has really the potential for much better performances. As I said, we have an infrastructural problem which seriously affects any future growth. Moreover, we need to realize where the port’s areas and terminals can be expanded without affecting Genoa’s overall urban outfit. A very well famous architect, Mr. Renzo Piano, who was born and lives in Genoa, a couple of years ago has offered to the city a project which completely transformed the coastline’s port areas (the so called “affresco”). Now this project has been somewhat put aside, but no one is proposing any alternative project or, better to say, the public opinion does not know if at a political level there is

Focus on Italy

Focus Liguria

any discussion of this sort and what is the object of the discussion. As to hi-tech industries the most important to project is the so called Hi-tech Village to be located and build on the hills surrounding Genoa (so called Erzelli Project). It is planned that the Faculty of Engineering of the University of Genoa and other hi-tech industries will be located or re-located at Erzelli. If the project is to be finalized in the next few years, it will have a significant impact on our future development. I must also mention that the newly formed Italian Institute of Technology (IIT) is based in Genoa. What are the greatest economic sectors in region Liguria? In Genoa, traditionally but also nowadays, the most important economic sector is the shipping industry, in its broadest defini- Banca CARIGE. Hopefully, other imtion, and other economic activities re- portant groups will decide to open up lated to the shipping industry. I have offices in Genoa. Also consider that already briefly described the current in Genoa we have a very good Unisituation of the port in Genoa. Also the versity, with a branch also in Imperia. ports in Savona, Vado and La Spezia Maybe this is why a lot of brilliant and are very important and going through very well known professionals of difvery important developments. Now ferent sectors (lawyers, bankers, architects, etc.) come there is the idea from Genoa. They of experimenting “ Genoa has one of the best received a very new forms of coordination between networks of Museums in Italy good education here and then Ligurian port auwhich are mainly located in thorities, a sort of the historical centre and espe- moved elsewhere where the market shared governcially in Via Garibaldi ” is more challengance which would ing. hopefully lead to a situation where Ligurian ports do not compete destructively but try to share the guidelines of Genova is not only an important ecotheir future development. Besides the nomic centre, but it’s known worldport, I have to mention that in Genoa wide as a city of culture. In fact, Genova are based the headquarters or strategic became in 2004 the European capital subsidiaries of very important group of culture. For what kind of cultural, arof companies. Just to mention a few, tistic, territorial features is it so apprewe have some very important Fin- ciated? 2004’s celebrations have been cantieri’s shipyards (in Sestri Ponente, greatly successful and surely spurred Muggiano and Riva Trigoso), Finmec- a new interest in Genoa and Liguria canica and Ansaldo companies, ERG, generally, which still endures today. I Iride and one of the top still, let’s say, think that the most important success independent, Italian banks, whick is achieved has been to market and pro-

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Porto di Genova dall'alto e in notturna

mote Genoa’s image and to get people from all over the world discover features which Genoa and Liguria own since ages. For instance, it is true that only in 2007 the so called Rolli palaces (i.e. a number of historic palaces sited in Genoa’s historical center) have been included in UNESCO’s World’s Heritage but this palaces have been there since centuries. Now, the number of features for which Genoa can be appreciated is really countless and my suggestion is to visit Genoa trying to discover the features one personally appreciates the most. I must only mention that Genoa has one of the best networks of Museums in Italy which are mainly located in the historical centre and especially in the famous Via Garibaldi. My last suggestion is to spend one day in the historical centre which is one of the largest in Europe. You do not necessarily need to have a specific and detailed route to follow. The best way to appreciate the flavour of the so called “carruggi” (i.e. the narrow streets of the historical centre) and of hidden squares is just to walk and follow the inspiration and personal interests along the way.

A cura di Enza Di Marco

Genova: Un porto sicuro per il continente europeo

Ogni genovese lo sa: il porto è l’unica impresa che nei secoli della storia di Genova non ha mai tradito la città

Porto di Genova

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Passato alla storia come “il Mandraccio”, l’antico porto di Genova si è modificando negli anni seguendo le innovazioni sia nell’ambito della costruzione delle navi sia nei modi di ca-

In quale altro luogo se non in un porto vedi i palazzi che spariscono? Renzo Piano dipinge così il suo sogno del nuovo porto genovese

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rico-scarico delle merci, che ne hanno trasformato la linea costiera attraverso numerosi adeguamenti, interventi e ammodernamenti. Inizialmente solo insenatura naturale, il porto genovese diventa ben presto sbocco marittimo dell’Europa intera, crocevia dei traffici continentali fin da quando alla città è stato consegnato lo scettro di Repubblica marinara insieme ad Amalfi, Pisa e Venezia. Nel corso dei secoli, i traffici portuali hanno vissuto un progressivo incremento spostandosi, però, verso il Ponente cittadino così che la vecchia area è stata via via abbandonata a sé stessa, quindi rimasta praticamente inutilizzata fino alla ristrutturazione del 1992

www.porto.genova.it

ad opera dell’architetto Renzo Piano, che l’ha restituita alla città in occasione del Vertice Internazionale del G8 tenutosi nel 2001. L’area del porto antico ha visto radicalmente modificato il proprio assetto funzionale ed estetico attraverso uno scrupoloso lavoro progettuale di restyling che ha consegnato alla città il primo e più grande patrimonio culturale genovese. Oggi l’area ospita infrastrutture sportive, per il tempo libero, spazi espositivi, cinema, ristornati, esercizi commerciali, ecc.. Il progetto eseguito in onore dell’Esposizione Colombiana del 1992 per omaggiare i 500 anni dalla scoperta dell’America, è stato proprio quello di realizzare nel Porto Antico interventi utili alla città non solo per l’occasione delle celebrazioni ma anche a “chiusura lavori”. Ecco, quindi , che a Porto Antico di Genova S.p.A. è stata affidata nel 1995 dal Comune di Genova la concessione fino al 2050 dei 130.000 mq di spazi dell’area portuale, con l'obiettivo di restituire ai genovesi la superficie dell'antico porto rendendola vivibile e godibile tutto l'anno. Ciò è stato possibile attraverso la realizzazione di iniziative culturali, lo sviluppo dell'attività congressuale e la costruzione di strutture di interesse

generale con l’ambizione di creare un polo di attrazione turistica nazionale e internazionale. Il ripensamento complessivo della Genova portuale diventa “l’affresco” che Renzo Piano ha consegnato nel 2004 alla sua città: un progetto da 16.000.000.000 di euro da realizzarsi in 18 anni, che comprenderebbe l’incremento della superficie portuale, il recupero di ettari di mare e quindi di spiagge destinate alla città, la creazione di circa 150 ettari di verde, l’allargamento degli attracchi turistici, lo spostamento del porto petrolifero verso il largo. Ma la vera scommessa dell’architetto sarebbe la creazione di due isole artificiali che trasformerebbero l'attuale aeroporto in porto spostando la pista d'atterraggio in mare, così come anche i cantieri navali; due isole collegate alla costa con un tunnel e costruite con la tecnica dei cassoni galleggianti. Il progetto di riqualificazione di Piano intende riavvicinare la città al mare per migliorare le condizioni di vita dei cittadini e, naturalmente, potenziare l’attività portuale in relazione alla sua funzione economica. Il porto di Genova svolgerà quindi nuovamente un ruolo di rilievo rispetto agli scenari evolutivi futuri.

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A cura di Edm

Leonardo diventa un brand High Tech

L’artista e scienziato italiano Leonardo da Vinci diventa “prestanome” del progetto per il nuovo villaggio high tech sulle colline degli Erzelli a Genova. La Silicon Valley genovese ospiterà uno dei poli tecnologici più all’avanguardia.

Il plastico del progetto Leonardo, a destra l'Arch. Renzo Piano

Il tecnology village è la nuova strut- ecc.. Parco tecnologico voluto da tura di stampo internazionale in terra Genova High Tech S.p.A., società genostrana: la fantasia del suo ideatore, novese costituita nel 2003 da 34 soci Carlo Castellano, è quella di realizza- fondatori tra imprenditori e managers re anche in Italia quel connubio di e presieduta dallo stesso Castellano, imprenditorialità, ricerca e creatività l’idealizzazione del progetto viene che ha ispirato altri modelli di parchi affidata all’architetto genovese Renzo tecnologici sorti nel mondo, primo Piano che, secondo la filosofia delfra tutti quello di Kista Sciente City a le sue “città visibili” sbeffeggia l’inStoccolma. L’idea vincente – come ha visibilità calviniana e progetta la più affermato più volte lo stesso Castella- significativa opportunità di crescita e no – è proprio quella di far convive- qualificazione economico-industriale re nel medesimo del territorio gespazio il knownovese perché how di più men- “ L’idea vincente è quella di far – come lo stesso ti quale conditio convivere nel medesimo spazio il architetto ha più sine qua non per volte ribadito duknow-how di più menti ” poter incremenrante le sue intertare lo sviluppo viste – “l’attività di nuove imprese e di nuove attività di ricerca e di produzione nella alte tecnologiche. tecnologie richiede spazi adatti, flesBattezzato col nome “Leonardo”, sibili e sinergici, che sono diversi da probabilmente proprio in onore del quelli convenzionali: sono da invengenio che ha saputo coniugare scien- tare”. Ma i sogni, si sa, non sempre si za, arte e tecnologia, il progetto del avverano e l’utopia del mondo tecvillaggio tecnologico si estenderà sul- nologico di Piano si scontra con gli la collina degli Erzelli per oltre circa interessi economici degli investitori 400.000 mq; il 70% della superficie privati; la cittadella high tech immautilizzabile sarà destinato ad imprese ginata dall’architetto, infatti, prevee laboratori di ricerca mentre il 30% deva edifici sviluppati in altezza per ospiterà attività complementari quali limitare la parte edificabile a favore residenze, strutture sportive, servizi, dell’area verde. Il grande vantaggio

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di questo polo tecnologico secondo Piano consisteva e, in parte lo è ancora, nell’essere una città nella città: un’area vitale e attiva, coerentemente inserita nel tessuto sociale cittadino in cui si coniugano valenze umanistiche e tecnologiche. L’obiettivo pensato e portato avanti da Castellano di creare un distretto all’avanguardia, incubatore di tecnologia, composto da strutture ricettive, residenziali, commerciali, culturali e sportive vissute da tecnici, imprenditori e scienziati pronti a trasferirsi e a trasferire i propri uffici, laboratori e aree di ricerca-sviluppo in questa improbabile location ha, ben presto, fatto i conti con la necessità di trovare interlocutori per finanziare il progetto. E così l’Olimpo sognato da Renzo Piano con torri altissime in rispetto di un urbanismo sostenibile si è scontrato con l’anima pragmatica delle aziende immobiliari, che hanno apportato sostanziali modifiche all’originario progetto al punto da motivare l’architetto ad interrompere il tratto della sua matita e lasciare che altri continuassero la progettazione della città futurista genovese. Il nuovo quartiere sarà competato nel 2013. Le prime imprese si insedieranno dal 2010.

A cura di Edm

Lifting al più grande lido d'Europa

Il lido genovese cambia volto con un investimento da 90 milioni di euro: lo stabilimento balneare più grande d’Europa si rinnova per rilanciare il turismo balneare genovese. Lo storico stabilimento balneare di Corso Italia sul lungomare genovese compie 100 anni e festeggia sventolando il fazzoletto bianco alle “cabine dell’amore” e investendo ben 90 milioni di euro per cambiare radicalmente volto.

La Palazzina Liberty affacciata sul mare, che ha fatto da suggestivo scenario alle sfilate di tante bellissime ragazze diventate anche volti noti del cinema italiano, da Sofia Loren a Eleonora Rossi Drago passando per Marisa Allasio e Rosanna Schiaffino, ormai è solo un ricordo. I prati, la sabbia e le rocce del lido del quartiere di Albano non esistono più, oggi la cittadella marittima è composta da ristoranti, boutique,

Membri BCCI Liguria Membro • Banca CARIGE Spa • Burke & Novi Srl • Capostagno Flora • Cunningham Lindsey Lercari • I.E.C. Srl • Indemar Spa • Monti & Barabino Spa • Pericu Prof. Avv. Andrea • Royal & Sun Alliance Assic. • Saranna Consulting • Walford Clare Lorraine

piscine, coiffeur ma anche da om- ventata di aria fresca. Nato nel 1908 brelloni, battigia e quattro piani con su iniziativa di Giuseppe Garibaldi circa 1.400 cabine capaci di ospitare Coltelletti, nei primi anni del secolo complessivamenil Lido si era ben te 10 mila per- “ La filosofia dell’Urban Lab di presto affermasone. Archiviati Renzo Piano approda al Porto di to quale tempio i pomeriggi mu- Genova: il cemento cede il posto della mondanità, sicali e le notti con spettacoli, brave al night a materiali porosi e al verde ” artisti e pubblico club La Caravelalla stregua dei la, diventato lussuoso ristorante, ritrovi parigini dell’epoca. Superaoggi nel Nuovo Lido si respira una ta la seconda guerra mondiale con

A sinistra un particolare del solarium del Lido di Genova, sopra una veduta aerea

Indirizzo Contatto Via Cassa di Risparmio 15, 16121 Genova Santo Mazza Via Domenico Fiasella, 4/14 16121 - Genova Andrea Novi Salita di Granarolo 44/5 16127 - Genova Flora Rocco Via Roma, 8A 16121 - Genova Rodolfo Lercari Via Colombo, 12/12 16121 - Genova Stephen Gabbutt Via Guido Rossa, 42,16012 - Busalla Diego Dalbini Via Buranello, 85/R 16149 - Genova Sampierdarena Stathis Georgiadis Viale Padre Santo, 5/8 16122 - Genova Andrea Pericu Via Martin Piaggio, 1 16122 - Genova Andrea Andreta Via Tappani, 6/13 16043 - Chiavari Sam Crockford Località Costa di Tessi, 2 16030 - Moneglia

Telefono 0105792 01054921 010232727 0105446650 010.561361 0109641927 010413341 01084621 0108330.1 3484752790 0185490577

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Focus Liguria

qualche ferita, il Lido trovò subito nuova linfa vitale grazie all’acquisto, nel 1948, da parte della famiglia Rizzo che ne ha tenuto le redini fino ad oggi. In particolare, al commendator Rinaldo Rizzo si deve l’idea geniale e per questo imprenditoriale di aver saputo catturare le luci della ribalta grazie a due felici intuizioni: il Premio Caravella, assegnato ai personaggi del mondo dello spettacolo, e l’elezione di Miss Lido. Oggi, in occasione del suo centenario, l’erede al trono Francesca Rizzo rilancia il Nuovo lido affidandosi alla filosofia dell’Urban Lab dell’architetto Renzo Piano. L’intervento di riqualificazione ambientale e funzionale progettato dagli architetti Paolo Brescia e Tommaso Principi, allievi di Piano, non è ancora un progetto compiuto ma un work in progress in attesa dell’approvazione delle autorità; il desiderio dei suoi creatori è quello di dare nuova vita al litorale costiero presentandolo quale status symbol in linea con l’identità dello storico stabilimento e con lo stile della famiglia Rizzo. Il ripensamento del

nuovo assetto dello stabilimento balneare è stato condotto secondo un approccio volto a ri-naturalizzare il complesso edilizio esistente, creando le condizioni di una nuova apertura della città verso il mare secondo il modello di sviluppo sostenibile dell’Urban Lab; per cui decementificazione dell’area del lido, intensificazione del verde esistente, valorizzazione delle visuali panoramiche, strategie energetiche mirate alla riduzione delle emissioni inquinanti. Il nuovo complesso architettonico ospiterà, inoltre, negozi specializzati in attrezzatura sportiva, area ristorazione, hotel, beauty farm, nuovi complessi residenziali ma, elemento di maggior interesse, sarà il Centro Velico coperto e dotato di Club House; sotteso alla realizzazione del nuovo lido c’è proprio l’ambizione di rilanciare il turismo balneare genovese creando un polo attrattivo non solo per i residenti della zona ma per tutto il Paese. Il progetto è certamente imponente e coinvolge un team di architetti, ingegneri,

Liguria è: Mercato dell'antiquariato: ogni terza domenica del mese si svolge la mostra mercato dell’antiquariato classico e a tema nautico dove gli appassionati del mare potranno trovare bussole, sestanti, carte nautiche, timoni, lampade, libri, dipinti e stampe e molti altri pezzi a tema marinaro • www.marinagenova.it Festival della fotografia: Sestri Levante fa da cornice alla seconda edizione del festival “Una penisola di luce”, manifestazione che ha aperto i battenti lo scorso 15 marzo e che si concluderà a gennaio 2009 con la mostra sul cibo “I piatti liguri” del fotografo Riccardo Marcialis • www.comune.sestri-levante.ge.it

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La soffitta nella strada manifestazione internazionale dove trovare le cose più varie dal mobile antico all’oggetto di modernariato, dalla bigiotteria agli abiti e pellicce d’epoca (25-26 ottobre / 22-23 novembre/ 27-28 dicembre) • www.sarzanaantiquariato.it Sanremoinfiore 91th edizione dell’annuale parata dei fiori, seguita ogni anno da oltre 60.000 visitatori (San Remo 25th Gennaio 2009) • www.sanremoinfiore.it Video festival Imperia Quarta edizione del Festival Internazionale d’Arte Cinematografica Digitale ( Imperia dal 14 al 19 Aprile 2009) • www.videofestivalimperia.org

Lido di Genova, le piscine

professionisti del settore energeticoambientale ed economico-finanziario che trasformeranno l’intera zona circostante per restituire alla città un’area pubblica di oltre 13.000 metri quadrati. Grazie al progetto del Nuovo Lido, Genova non sarà più solo porto ma si distinguerà anche per il suo volto di città marittima, con servizi balneari all’avanguardia rispettando, però, i ricordi di antichi fasti perché, come affermato dalla stessa Rizzo, “interessava lo sviluppo del Lido come da un seme di albicocca ci si aspetta di vedere nascere l’albero”.

by Mauro Cozzi

Telerobot: The answer from Liguria to the world of robotics

It is in Genoa that Telerobot was born and where it grew up. A reality from Liguria which is proud of a consolidated experience in the area of special robotics.

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It has been working for about 20 years in design of complex systems and it realizes prototypes and small quantities series, as well as single devices. Into its two fully integrated sites of Genoa and Latina, it provides engineering, development of electronic equipments, automation and robotics. Telerobot is able to drive the entire manufacturing flow and to fully satisfy the expectations of Customers, providing full product development capability. This full range of capabilities has brought Telerobot to be a leading factory in the whole Italian market, and to be asked, by some of the main Italian companies, to be a research and development partner for their own activities. Recently Telerobot has acquired OCEM, a company leader in precision metalworks, that has allowed a wider manufacturing capability to the customer, from both size and quantities points of view.

Telerobot is a company of engineering services that is focused on development and innovation of high technology products.

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Engineering services Since its birth, Telerobot has been focusing to support the Customers in product improvement and innovation, reaching a strong and deep experience in design and development of goods in high competitive areas requiring high technology contents, as: • automated assembly • product manipulation, transport and pack. • automated post operations • off-shore • energy, cables and fiber optics industries • telecommunication equipments

In order to satisfy the requirements of its market, Telerobot is provided of human, technological and organizational resources, as well as qualified relationships: it is one of the founders of Polo della Robotica, it has close links with University and Research world, together

www.telerobot.it

• Telerobot Machinery • Telerobot Robot

with it cooperates into several national and European projects. Mechatronichs The skills of Telerobot, directed to develop close integrated activities of study, realization and experimentation, find a particular interest and appreciation, where the purpose is to realize samples of complex devices - both for first prototyping of large scale manufacturing products, and for single special devices - with characteristics of technological robustness and reliability, far away from the concept of prototype as temporary object. Special robotics Telerobot is one of the founder partners of Polo della Robotica in Genoa, an association of high tech factories and research institutes, that provide equipments, systems, research, services, and in general all those technologies that build the fundamentals of Robotics. As for the broad range of different technologies involved, special Robotics is that branch focused on those segments of activities productive, commercial and of support - remained so far at the boundaries of automation processes, typically related only to the large scale manufacturing area. Genoa, and in general Liguria, cov-

ers an original leading role, not only in the national context, that means in relation with other Italian regions since a long time specialized in the robotic area - actually mainly focused on industrial manufacturing applications - but also in the European context, as required nowadays. It is largely agreed that Liguria may be proud to host the highest concentration, over national and likely European context, of research laboratories in robotics - IIT, University, CNR - highly qualified at an international level; together with these latter, other research institutes equally qualified work on collateral subjects, as for example INFN and EMEA, several inter-universities centers as CNIT, CIMA and ISME, up to include the international research centers of SACLANT in La Spezia. Telerobot with its own capabilities joins this cultural and industrial context: the company - full private capital factory - is continuing the consolidated “history” in the special robotic area, initiated by a consortium, born in Finmeccanica, the subject of which was the promotion, commerce, research and development, design, support to applications and services in the area of Advanced Robotics in terrestrial, naval and space industry segments on the Italian and international markets.

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Company profile - FAI

Con il FAI per il Patrimonio italiano

Da oltre trent’anni, il FAI – Fondo Ambiente Italiano si occupa di salvaguardare il Patrimonio artistico e naturalistico italiano, e di sensibilizzare la collettività e le istituzioni alla sua tutela. Per un’azienda, sostenere il FAI rappresenta, oltre che un gesto di responsabilità sociale, anche e soprattutto una scelta strategica in grado di accrescere il valore del proprio business. La cultura diffusa di una società rappresenta uno dei baluardi a difesa della sua crescita complessiva: economica, sociale e civile. Per un Paese come l’Italia, il sapere, la conoscenza, la storia, la cura per il bello rappresentano il filo conduttore che lega le sue vicende storiche nel corso dei secoli. Tutelare questa identità, restituirla nelle mani dei cittadini preservandola per le generazioni a venire è l’unica strada per guardare con fiducia al futuro. Nato nel 1975 sul modello del National Trust britannico, il FAI – Fondo Ambiente Italiano ha fatto di questa strada la propria missione, impegnandosi quotidianamente nella salvaguardia e valorizzazione del Patrimonio d’arte e natura italiano e nella sensibilizzazione della collettività e delle istituzioni alla sua tutela. Un vero e proprio impegno civile, che punta a coinvolgere contemporaneamente tutte le parti attive del nostro sistema Paese: imprese, istituzioni e privati.

Il FAI e le aziende: un’alleanza che crea valore Proprio l’unità di intenti e azioni di imprese, istituzioni e privati è alla base del progresso e del futuro del nostro Paese. Una condivisione di impegno civile che è in grado di creare un vantaggio strategico alle aziende che decidono di partecipare attivamente. Fedele a questo principio, nel 2002 il FAI ha istituito “Corporate Golden Donor”, un programma di tutela e valorizzazione riservato alle piccole, medie e grandi aziende italiane. Dare valore all’Italia, per le aziende socialmente sensibili, eticamente responsabili e dotate di lungimiranza strategica, significa dare valore al proprio business: le imprese che aderiscono al programma “Corporate Golden Donor” infatti entra-

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no a far parte di un network che si fonda sull’interesse comune per l’arte e la cultura, e che è in grado di offrire alla collettività un’ Italia tutelata, valorizzata e in costante crescita culturale ed economica. Sostenere il FAI è anche e soprattutto una scelta strategica da cui derivano numerosi vantaggi e opportunità che investono ambiti decisivi quali l’identità aziendale, l’attività di Responsabilità Sociale di Impresa, le strategie di marketing e comunicazione, la motivazione e il coinvolgimento del personale.

I numeri della concretezza 39 Beni protetti e gestiti 2,200 mio. M2 di aree naturalistiche e giardini storici 40.000 M2 di edifici storici 3.500 M2 di affreschi 40.000.000 € investiti in restauri I numeri della partecipazione Iscritti 78.000 Aziende sostenitrici 500 Delegazioni 103 in 18 Regioni Volontari 6.000 Studenti coinvolti 116.000 Visitatori dei Beni 340.000 Visitatori Sito Web 1.000.000/anno Eventi culturali Oltre 1.000

Da sinistra: • Villa e collezione Panza, Varese fotografia di Giorgio Majno • Villa e collezione Panza, Varese fotografia di Giorgio Majno • Giardino della Kolymbetra, Valle dei Templi, (Agrigento) fotografia di Andrea Casà • Castello di Masini, Caravino (To) Auda & Coudayre,Photography • Parco di Villa Gregoriana, Tivoli (Roma) Fotografia di Masimo Siracusa • Abbazia di San Fruttuoso, Camogli (Ge) fotografia di Giorgio Majno • Villa Necchi, Milano fotografia di Giorgio Majno

FAI Fondo per l’ambiente italiano Viale Coni Zugna 5 20144 Milano T. 02 467615201 www.fondoambiente.it

• Villa del Balbianello, Lenno (Co) fotografia di Giorgio Majno • Castello della Manta, Manta (Cuneo) fotografia di Giorgio Majno • Monastero di Torba, Gornate Olona (Va) fotografia di Giorgio Majno

www.fondoambiente.it

A cura di Caterina Marinato

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Si difende ciĂ˛ che si ama e si ama ciĂ˛ che si conosce

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Giulia Maria Mozzoni Crespi Presidente FAI

Focus on Italy

BCCI Member profile - Am

bienta

by Jonathan Gibson

Ambienta – environmental assets

Ambienta is the new kid on the block in the environmental business, although it has been founded by a team which has many years of experience in the sector.

They have launched a private equity fund to invest in this rapidly growing sector, which is being driven mainly by the growth in consumption in the emerging economies. It started with lunch at a corner table at Boecc on 2 April 2007. In just 18 months Ambienta SGR, a fund management company, has been set up and Ambienta I, its first fund, is not only in business but has also made two investments. Ambienta I is a private equity fund, founded by Rolando Polli and Nino Tronchetti Provera, who were present at the lunch in Boecc, which is investing in the environmental sphere. Ambienta has since been joined by two other partners, Guido Rivolta and Mauro Roversi as well as seven other colleagues. It has already raised Euro 150 million and is on track to arrive at its target of Euro 250 million by the middle of next year. Investors in the fund include Intesa San Paolo and many of the top industrial families and financial institutions in Italy. So what makes the environment such an interesting area to invest in? Until a few years ago the main consumers in the world of energy, goods and services were in Western Europe, North America and Japan. Over the last few years these consumers have been joined by millions more from the emerging economies of China, India, Brazil and others. As these and other

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investing in environmental businesses means investing in any company that produces a good or service that is beneficial for the environment

throughout the world, as evidenced by the increase in the price of oil and other commodities over the last few years. The increase in energy consumption has been accompanied by an increase in the output of greenhouse gases and pollution. The increase in energy costs, together with concerns about climate change, have opened up a wide assortment of investment opportunities in renewable

• Mountain Gamsberg

energy production, energy efficiency and pollution reduction. For example countries such as India import substantially all of their oil needs. The country has a double benefit from adding ethanol produced locally from sugar cane to its petrol: it improves its balance of payments and it produces employment and wealth domestically. As far as Ambienta in concerned, investing in environmental businesses means investing in any company that produces a good or service that is beneficial for the environment. It has made two investments to date, both of them in Italy. It has a minority stake in ICQ, a Rome based company, which has been very successful in the development of wind farms, biogas and hydro-electric plants for many years. With the funds that Am-

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similar countries have grown wealthier, ever increasing numbers of their citizens have more money to spend on goods and services. This has put enormous stress on the sources of energy and other natural resources

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bienta has invested in the company, it will not only continue to develop renewable energy plants but it will also retain them and manage them thus creating a long-term sustainable business. Ambienta has also acquired the majority of Italiana Pellets, which is building a plant near Milan to produce wood pellets, which are small cylinders of compressed finely chopped wood that offer a lower cost and carbon dioxide neutral alternative to gas and heating oil for domestic heating and hot water. The team at Ambienta is passionate about the environment and has many years of experience in the sector. Nino Tronchetti Provera wrote a thesis on the environment in 1991 and was a founder member of the Kyoto Club in Italy. Together with Guido Rivolta, he launched Gecam, a diesel-in-water emulsion, on the market in 1998. Rolando Polli, after many years in McKinsey, was a cofounder and chairman of Atmos, an early renewable energy investment club. The team has a strong industrial background which, combined with the private equity experience of Mauro Roversi, means that they are also in an excellent position not only to select investments but also to assist the companies with their growth strategies. The world has changed a lot since the lunch a Boecc, in particular the financial world and more recently “main street”. The drivers of the environmental business have not changed though. The emerging nations and their consumers will continue to get wealthier and to stress energy resources. What have changed are the valuations of the businesses that Ambienta is looking to invest in. Ambienta has cash to invest and now looks like a good time to use it.

www.ambientasgr.com

rclays BCCI Member profile - Ba by Simona Rendo

Barclays in Italy: a tale of constant growth

From zero to 120 in less than two years: with its innovative products, Barclays has established itself strongly in Italy.

From zero to 120 in less than two years. This unit of measurement does not represent kilometres but the number of Barclays bank branches. From zero to 120 also represents the speed at which Barclays in Italy has grown from the end of the 2006 until today. Vittorio De Stasio, experienced banker with previous experiences in Deutsche Bank, Bipop Carire and Capitalia, has been chosen to carry on the strategic project of Barclays Retail & Commercial Banking in Italy. Barclays’ starting point in Italy was Milan, where the organization. Barclays boasts a strong English bank launched its first branch brand notoriety and excellent capain July 2006. Today the bank has more bilities, as it is present in more than 50 than 90 branches, that will become 120 countries in the world and has more within the end of the year. Vittorio De than 300 years of experience. Today, Stasio, CEO Barclays GRCB Italia, af- thanks to our employees’ commitment, firmed: “Our organic growth strategy, the Barclays offer can be considered first focused on the cities of Milan and to be truly 360 degrees. In addition to Rome, from there we decided to ex- the Retail Branches, Barclays is also able to serve the pand our reach to the more receptive “ Barclays is an important Commercial/Business customers areas of Central and Northern Italy, reality that in two years can via a dedicated those areas where count on good performances product line and a network of spethe industrial and both in the liabilities and in cialized managers commercial context is more dy- the asset under management, present in the 24 Italian “Centri Imnamic”. He refers across the lending, credit prese” – that will to the regions of card and mortgages become 34 by the Veneto, Emilia Robusinesses. ” end of the year. magna, Piemonte But that’s not all. and Lombardy with a particular focus on the Bergamo Barclays is also present in Italy through and Brescia districts where Barclays almost 90 Barclays Mutui e Prestiti, fiis present today with more than 20 nancial shops managed by more than 350 agents specialized in the consumer branches. finance product sales, as well as more Until 2 years ago, most of the Barclays than 200 financial advisors specialized employees were part of the Woolwich in the investment product sales. But organization – the historical brand spe- the Barclays Group also manages the cialized in mortgages – and weren’t mass-affluent target audience, to whom more than 250 people. At the end the first Premier flagship branch in Miof 2007 the number dramatically in- lan has been dedicated. This flagship creased to 600. The forecast for the end was launched last June and in 2009 a of 2008 predicts this number will dou- new one in Rome will follow. ble to 1200 employees. Mr. De Stasio says: “We place a significant amount of With regards to the results of the Engattention on recruiting the right people. lish Bank in Italy, Barclays is an imporThat’s way we are looking for talented tant reality that in two years can count people that want to grow within our on good performances both in the lia-

www.barclays.it

• Vittorio De Stasio CEO Barclays GRCB Italia • Milan premier branch (Via dei Mercanti)

bilities and in the asset under management, across the lending, credit card and mortgages businesses. In addition to this, Barclays was the first bank to exploit the Decreto Bersani effects thereby launching new products that allow the Italian consumer to change his/her mortgage bank and/or conditions. With regards to investments, Barclays has made use of an open platform, offering the world’s best asset management products thanks to its partnerships with top investment firms. Over the last 2 years, Barclays has also distinguished itself from other banks via its competitive pricing scheme: first with the “Conto 10+3” product, then with “Conto 4%” and “Conto 5%”, and now with its current “Barclays 5% Netto”. In particular, Barclays Netto is a REPO that remunerates 5% Net per year for investments from 50.000 euros with a quarterly renewal option. For investment from 10.000 euros to 49.999 euros, it remunerates an annual net rate of 4,5% with the same renewal conditions. “With Barclays Netto we reconfirm our innovative vocation and our multichannel proposition in Italy” says Vittorio De Stasio CEO Barclays GRBC Italia. “Our main objective is to put ourselves as a real alternative to Italian Banks, becoming the first bank for our customers ”.

Focus on Italy

itish Council BCCI Member profile - Br

by Jill Martin

Making a difference for 75 years

British Council was founded in 1934. Today we are a major international organisation employing 7,900 staff. In 2009 we will celebrate our 75th anniversary.

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British Council is the UK's international organisation for educational opportunities and cultural relations. As well as education, we run programmes in the arts, science, sport, governance and English language. We work in 110 countries and territories across the world and through our programmes we reach over 112 million people a year. For 75 years now British Council has been building strong cultural rela-

British Council Business Training Services: equipping your key people to hold their own in business English through carefully designed language programmes.

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tions with other countries, exchanging knowledge and ideas and providing educational opportunities. In Italy, we have three centres: Milan, Rome and Naples. Key activity in these centres revolves around the Teaching Centres where we deliver English language courses to thousands of Adults, Young Adults (16-19yrs) and Young Learners (4-15yrs) every year. Business English is a healthy, fast growing and increasingly demanding area of work for British Council. Of all the countries in the world where we are present as a Teaching Centre, Italy has by far the highest number of contract hours for language training to Corporate and Institutional business. The Business Training Services (BTS ) unit in Milan provides an

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important service to hundreds of corporate clients, individuals, institutions and universities. Our team of highly professional and qualified teachers and trainers will provide your organisation with a language audit, a thorough needs analysis and give advice on what you need to make sure your company is performing effectively and competitively in English in these increasingly challenging times for business. Whether you need language improvement for staff or individual tuition for key people who have to manage the many and varied business situations that come up, British Council’s Business Training Services will equip you for all language eventualities in international meetings, conferences, calls and negotiations as well as socially, making sure your key people can hold their own in English. Exams are also a key part of what we do; British Council Milan tests over 40,000 candidates for Cambridge ESOL exams, ranging from the General English suite (Young Learners, KET, PET, First Certificate, Advanced, Proficiency and IELTS) to Business English for the workplace (Business English Certificates BEC, Business English Language Testing Service BULATS) and International Certificates in Legal or Financial English ILEC, ICFE. BTS provides many of our clients with special exam preparation programmes for all Cambridge ESOL exams, giving language learners specific English language objectives and the opportunity to prepare for an internationally recognised certificate. If your organisation or sector requires you to take a professional exam and it

• 75th anniversary design • British Council , Via Manzoni Photo by Andrea Notari • Jill Martin, Head of Business Training Services British Council, Milan

is more convenient for you do this in Italy, we can arrange for a secure environment compliant with the examining body’s prerequisites, eg MBA exams, ACCA, CIMA and other professional institutes In our 75th year, we continue to be involved in important international projects such as Intercultural dialogue, strengthening understanding between and within different cultures; UK creative and knowledge economy, promoting the UK as a global centre for education, knowledge, skills and creativity and Climate change, championing the implementation of international agreements that address the threats of climate change. If you would like to organise language training in English for your business, please contact: Jill Martin Head of Business Training Services British Council Via Manzoni 38 20121 Milano T+39 02 77 22 22 26 F +39 02 78 1119 jill.martin@britishcouncil.it www.britishcouncil.org/professionals www.britshcouncil.it/milan www.britishcouncil.org

shman & Wakefield BCCI Member profile - Cu By Clara Zanussi

A client-driven company

Cushman & Wakefield (C&W) is the world's largest privately held commercial real estate services firm. Founded in 1917, it has 227 offices in 59 countries and more than 15,000 employees. In 2007, IFIL Investments, S.p.A. purchased majority interest in Cushman & Wakefield from The Rockefeller Group. IFIL is the investment company of the Agnelli Family, based in Turin, Italy. It is one of the major investment holding companies in Europe and is listed on the Italian stock exchange. IFIL manages a portfolio that includes, along with Cushman & Wakefield, investments in Fiat, Sequana Capital, Sgs, IntesaSanpaolo, Banca Leonardo, Juventus, and Alpitour As a global real estate company, to lead our clients into new areas / C&W delivers integrated solutions to emerging markets and advising cross our clients by actively advising, im- borders. plementing and managing on behalf We are market leaders in: Belgium, of landlords, tenants and investors Italy, Portugal, Russia, Romania Pothrough every stage of the real estate land, Czech and Hungary and have scope to increase market share furprocess. The firm represents a diverse cus- ther in UK, France and Germany. tomer base ranging from small busi- We are a single partnership across Europe which nesses to Fortune lends itself to 500 companies. It “ C&W represents multina- team work and offers a complete tional corporations, financamaraderie in range of services the best interests within four pricial institutions, developers, of our clients. mary disciplines: entrepreneurs, government We have estabTransaction Services, including entities and small-to-medium- lished our Italian business in Mitenant and landsize companies. ” lan since 1990, lord representation in office, industrial and retail in Bologna since 1996 and in Rome real estate; Capital Markets, including in 1998. Since the first year we have property sales, investment manage- been growing year on year. We have ment, valuation services, investment a staff of approx 125 experienced banking, debt and equity financing; employees, all of them with specific Client Solutions, including integrated competences and skills to provide real estate strategies for large cor- our clients with the highest profesporations and property owners, and sionalism. Consulting Services, including business and real estate consulting. A rec- Dedicated property sector teams proognized leader in global real estate viding a complete range of real estate research, the firm publishes a broad service lines: array of proprietary reports available on its online Knowledge Center at Agency services •Business Space www.cushmanwakefield.com. C&W is a private company, not quot- •Retail ed on the stock exchange, and our •Industrial & Logistics staff are not remunerated by individInvestment services ual commission. We have long established offices •Office & Industrial Capital Markets across EMEA - we are best positioned •Retail Capital Markets

www.cushmanwakefield.com

• Reception area • View of the meeting room

Asset Management •Property Management Services •Project Management Consultancy Services • Valuation Advisory • Hospitality • Residential • Research • Marketing We advise local and international clients across the whole country and we have a proven track record in every sector. We are the Italian market leader and we are involved in the commercialisation, the purchase, the sale and the valuation of most of the best projects/ assets in the market. We work with cross-border teams, implementing best practice across the globe to offer the clients the best solution in any time and in any place. Cushman & Wakefield Italy awards in 2008: • Winner as Real Estate Consultancy Company of the Year - RE Real Estate Awards 2008 - "Mattone d’oro" • Daily Real Estate Awards 2008 "Daily Real Estate International" for International Presence in the Italian Real Estate Market.

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rwin Airline

BCCI Member profile - Da

by Massimo Boni

Adaptive intelligence

The first economy business airline company is five years old. Its mission is in its very name: adaptive skills and suppleness to keep on growing under the sign of quality.

2009 will be a great year for Darwin Airline. Charles Darwin, the father of the very well known evolution theory, was born two centuries ago, in Shrewsbury, UK. Besides stating that we are evolved apes, Darwin’s theory described the main characteristics of the species that has been more able to survive than the other ones and, unlike the others, has not ended up with extinction but with evolution: adaptability. Better, adaptive intelligence. Darwin bicentennial follows another anniversary: Darwin Airline’s five years. No comparison, of course, but national airline standards: dry wine for Darwin Airline’s 100 employees in real glasses, croissants at breakand for the numerous passengers that fast and high-quality snacks at other in these years have been flying with times. us, it is with no doubt an important Every day, Darwin Airline connects goal, a small step in the evolution Lugano, Rome and Geneva; moreoscale of a regional ver, during sumairline company “ Civil aviation thinks small. mer weekends, representing a it offers you two Four turboprop planes turn real business case exclusive destinaa regional airline into one of in civil aviation, tions in Sardinia: the most adaptive and verheading to reach Cagliari and Olthe break even bia. satile companies operating in point in 2009. Europe. This is the secret of Darwin Airline is Even if it is an successful evolution ” located at Lugano economy busiAirport, in Agno, ness airline, the Ticino. A strategic Company offers location, if you consider that this air- its service not only to the business port is linked to the third financial travelers, who often fly on the same center in Switzerland and that many day between Lugano and Rome or multinational and international com- Geneva. In fact, because of its high panies are based in Canton Ticino. comfort onboard standards, Darwin Airline is also chosen by leisure class Established in 2003, Darwin Airline passengers, planning to enjoy a suhas always believed in those values perb cultural week-end in Rome, fundamental to an airline company: peaceful relaxation on the Lugano safety, quality and punctuality. Lake shores, or exclusive shopping – Nowadays, with low cost airlines rul- or just window shopping – time in ing over the market, this Swiss Air Geneva. Company stands out as an economy business airline, continuing to offer The main characteristic of Darwin all the things that low cost trend has Airline is the same adaptive intellicut down. gence formulated by Charles Darwin. On board Darwin Airline planes - Thanks to the small size of the planes four exclusive turboprop SAAB 2000 in our fleet – 50 seats – we obtained - you can enjoy the same prestige such a high flexibility that we can

Focus on Italy

• View from a Darwin oblo • A tale of a Darwin plane

easily satisfy various kinds of clients’ requests. We are able, in fact, to offer many different and customized solutions, both to private passenger and to tour operator demands, through to international sport teams’ special needs. Such was our experience with Suede and German National teams, who choose Darwin Airline as the ideal partner for all their temporary transfers during Euro 2008 football championship. Darwin Airline’s story shows a constantly evolving Company, which has found in small size its great business strength. This has turned into a great advantage for our Company, making it possible to challenge bigger competitors, by becoming their supplier or partner. Flying with Darwin Airline is an experience defined as “exclusive” and “comfortable” by our customers. Moreover, Lugano airport – just one hour away from Milan – with its opportunity to complete check-in just 20 minutes before leaving, makes the Darwin Airline experience really unique.

www.darwinairline.com

A Piper BCCI Member profile - DL by Alberto Angeloni

The Italian Certified Plan of Reorganisation

A new debt restructuring tool starts to be successful in Italy: the Certified Plan of Reorganization (Piano attestato di risanamento).

â&#x20AC;˘ Reception

Article 67, paragraph 3, sub-paragraph d), of the Italian Bankruptcy Law provides that payments, security and guarantees are not subject to clawback action, in case of subsequent bankruptcy of the debtor, if they have been made or executed under a plan aiming at restructuring the indebtedness of the company and balancing its financial position. The reasonableness of the restructuring plan needs to be certified by an expert. The above mentioned-law provision aims at providing certainty/ stability (with an exemption from clawback action) to a series of actions of the debtor (such as making payments, granting security, etc) that would otherwise be subject to a risk of clawback in the event that the debtor goes bankrupt after such actions are taken. The requirement that needs to be met by the debtor in order to benefit from the exemption is that all such actions are taken in the context of the implementation of the restructuring plan. The Plan, therefore, enables the debtor who needs to consolidate his debt exposure, to deal with creditors. On the other hand creditors would benefit from an instrument which is able to grant a certain level of safety to actions carried out by the debtor in connection with the plan. One of the most important peculiarities of the Plan is that it can remain completely confidential. Indeed, apart from the creditors involved in

www.dlapiper.com

the reorganization proceedings, no one else is entitled to access the relevant information. Accordingly, the law does not require any mandatory disclosures or filing of any kind. In principle, the Plan has a unilateral nature, being attributable solely to the entrepreneur. The law does not require any mandatory negotiation with creditors nor judicial solution to the crisis. Generally, the plan is a unilateral act of the entrepreneur that can also have - in peculiar circumstances - contractual nature. The restructuring plan is a projected-document, certified by an expert, which shall contain an autonomous hypothesis of the debtor. For instance, creditors could be even against the restructuring plan, but the exemption from clawback action would be, in any event, triggered by the certification of reasonableness issued by the expert, in accordance with article 67, paragraph 3, sub-paragraph. d) of the Italian Bankruptcy Law. The Plan is prepared by the debtor (and his advisors) and its contents are normally shared with the main creditors. The plan is then submitted to the expert for the certification of reasonableness. The forecasts of the Plan should be based on reasonable and sustainable assumptions and its development must be logical and consistent with the assumptions made. The Plan shall contain all necessary information that is needed by the expert to assess whether the debtor, by implementing

the plan, is able to achieve financial reorganization and the assumptions under which it is prepared shall be plausible and sustainable according to the auditors' best practice.

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The restructuring plan is a projected-document, certified by an expert, which shall contain an autonomous hypothesis of the debtor

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]

BCCI Member profile - FW

Stephens

by Richard de Jongh

FW Stephens International Limited

In these difficult economic times it is most important to make the most of the resources that you have.

Fund Management: The fund management arm of the business currently manages in excess of €75 million of client assets. Drawing on this expertise we are able to manage a client’s investments, taking account of their aims and aspirations, tax status and attitudes to risk. Importantly for the expatriate, we are able to invest funds in sterling, US dollars or Euros, thus minimising the effect of currency fluctuations. Richard de Jongh

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At FW Stephens International we have the expertise to help you make the most of the investment and tax saving opportunities available to you. Our clients benefit from financial solutions through the breadth of services provided by our chartered accountancy practice and our financial services companies. As a finan-

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As a financial consulting group, clients are at the heart of everything we do.

cial consulting group, clients are at the heart of everything we do. Our services, set within a concept that we call “Whole Life Vision”, allows us to focus on our clients’ objectives through three stages; Reflect, Imagine and Sculpt. Reflect enables us to gather information and clarify objectives. Imagine uses that information to explore opportunities and recheck client needs. Sculpt creates a strategy offering clients the chance to reach their objectives and therefore Live their Whole Life Vision. In 2006 FW Stephens International opened a branch office in Milan to advise those moving or already living overseas on their financial affairs. This can include both ongoing savings and a review of assets previously invested in the UK. Though by no means exhaustive, here is a taste of the services and products we can provide:

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International Corporate Benefits: Many companies now have employees in more than one country, with their employee benefit programmes arranged locally. For these companies there will often be considerable expenditure and effort involved in setting up employee benefit arrangements. By participating in a multinational pooling arrangement there may be opportunities to obtain a dividend of up to 10% or more of the premium whilst often reducing but certainly not increasing administrative time. We are able to advise on pooling arrangements and a range of employee benefits from healthcare to group risks insurances. Tax Planning: There are a number of products and schemes available that promise to minimise the tax that you pay on your investments. We are able to advise which of these schemes are appropriate to your situation. Pensions and Retirement Reviews: Moving from job to job invariably means joining a number of different pension schemes meaning that as one approaches retirement it is difficult to understand one’s overall position. Many of our clients like speaking to us because we can review their existing situation and then build a strategy to work towards their financial goals. Pension Export: Under current UK pensions legislation, at age 75 all pension funds must either be used

to purchase an annuity or to provide an income under an “Alternatively Secured Pension”, which results in a rather penal 82% charge on the policyholder’s subsequent death. Whichever option is selected results in a loss of capital. Recent changes to pensions legislation mean that for those moving or already living overseas there is the opportunity to avoid these pitfalls by transferring their UK pension benefits to a Qualifying Recognised Overseas Pension Scheme (QROPS). We can assist you in selecting an appropriate scheme that will allow you to draw an income from the pension fund until your death when the capital can be passed to your selected beneficiaries. Protection: Life insurance can make a big difference (financially at least) should the worst happen to you or a loved one. We can advise on all types of life insurance as well as insuring against the effects of ill heath. If you wish to discuss any of our services, we offer a free initial consultation at which we can discuss your needs and aspirations. FW Stephens International Limited and its sister company Stephens Fund Management Limited are regulated by the FSA in the UK with a passport to give financial advise throughout the EU. We are remunerated on a fees basis, however these can be offset against any commission earned on products that we recommend. FW Stephens International Limited Milan Contact: Richard de Jongh Corso Matteotti 1/A, 20121, Milano T +39 02 37053245 F +39 02 784348 richard.dejongh@fwstephens.eu London Contact: Nirav Patel Third Floor, 24 Chiswell Street London, EC1Y 4YX T +44 20 73821820 F +44 20 73821822 nirav.patel@fwstephens.co.uk

www.fwstephens.co.uk

vaseta BCCI Member profile - No by Margherita Grosso

The right melange of old and new

A young and innovative company, with a very good outlook and a strong link with tradition, active in the luxury textile accessories market.

Novaseta was created in late 2006 as a spin off of licenses previously held by the accessories division of the Zegna group which is a significant shareholder of the firm. It is a part of a small group, which includes also RPB, a knitwear, high-end casual, sportswear and retail company. The group was founded and is currently led by Luciano Donatelli and Adolfo Gallo, who have been part of the Ermenegildo Zegna Group for over 40 years as CEOs and minority shareholders of the sportswear and the accessories divisions. Novaseta produces and distributes textile accessories (ties, men’s and women’s scarves, men’s beachwear, cummerbunds, handkerchiefs, ascots, cufferlinks) as well as shirts and belts, both with proprietary and licensed brands in the luxury market segment. The licensed brands are: • Aquascutum: historical English brand, strongly rooted in the trench coat sector, with a tradition of continuous technical innovation, re-launched by Kim Winser as a global luxury brand; • Ballantyne: historical Scottish brand, synonymous with luxury cashmere, re-launched on the global market with dedicated store openings; • Church’s: historical English footwear brand, acquired and re-launched by the Prada Group; • Les Copains: Italian house born from a passion for luxury knitwear and colours; • Leonard: French house founded in the 1950s that has become a cult thanks to its innovations in prints on silk; • Trussardi: historical Italian house, strongly centered on leather throughout the collections, including couture and sportswear lines; • Bolgheri e Villa Bolgheri: neckwear brand, whose collections have continuously been inspired for over 30 years by the beauty and colours of the magical region of Tuscany; Novaseta has also three proprietary brands: • Carnaval de Venise: high and neckwear with a strong sartorial connotation, centered on fantasy prints and with a range of products for ceremowww.novaseta.com

• Scarfs, tie and foulard produced and distributed by Novaseta for licensed brand Aquascutum, Trussardi, Les Copains

nies and special occasions; • Hubert e Huber Team historical Italian neckwear brand, renowned for its recapacity of 1,2 million ties and 250.000 search and fashion fantasies; • Hugh Parsons: English brand created pieces of knitwear, allowing highly in 1923, strongly connected to the sar- flexible production planning and tailortorial tradition of Savile Row and Jer- made products. The internal Research and Development division collaborates mun Street. Each brand has a dedicated structure with true “textile scientists” that provide that includes a Brand and a Product a continuous pipeline of innovations Manager (part of a highly qualified and present unique products every style team) in addition to specialized month for quality testing. Two of the Area Managers. The different brands most recent fruits of these studies are are represented at the most important the exclusive Kashuna yarn (made with international trade shows, such as for 10% vicuna + 90% cashmere) and the example Pitti Immagine Uomo in Flor- creation of a waterproof process that ence, Collective in New York, Munich- respects the “feel” of ties and scarves. fashion.men in Munich. Novaseta is lo- The style team has access to a large cated mainly in Biella with showrooms proprietary archive (the result of 40 in Milan (the heart of world distribu- years of research and acquisitions) with tion), Rome, New York and Paris and designs and pieces that date back over a further plant in Pescara. The produc- 200 years, composed of over 3.000 tion structure can count on the most books and 1.2 million fashion and inspecialized international suppliers for terior decoration designs with samples each type of fabric and colour, based made of paper, fabric and yarn, as well as a complete set on a pool of local companies known “ In 2007, 170.000 pieces were of fashion magazines. Novaseta’s for maintaining produced, with a turnover products are sold the highest levels of €5 Million; in 2008, the in the best luxury of excellence. company, with a total of 38 stores all over the The internal proworld and are a duction capacity employees, expects a strong is based on the increment, both in production perfect example of “Made in Italy” exBiella and Pescara (390.000 pieces) and in budget cellence. structures, with an annual production (€11,5 million). ” Focus on Italy

tel BCCI Member profile - Ho

Sheraton Diana Majestic

A Century of History

The perfect merge between tradition and fashion just a few steps away from the city center; the hotel Sheraton Diana Majestic celebrates its first 100 years.

The story of the Diana Majestic, began in 1842 when, near the East Gate of the city, Porta Orientale (which today is Porta Venezia), the first public swimming pool in Italy was opened: “Diana’s Bath”. The pool was 100 metres long and 25 metres wide and constructed around it were 120 changing rooms, showers, party rooms, billiard rooms, a restaurant, a coffee shop and a garden. In actual fact there was very little of “public” about it, since access was granted only to a certain class of Milanese families. Nearby the establishment, shows or theatrical productions were organised which attracted many people. In 1877, a large square of ground was covered in asphalt and the owners imported a large number of roller skates directly from England. This novelty was very popular with the habitués of Diana’s Bath who could once again count on an exciting innovation. In 1904 Hotel Diana was inaugurated and even this represented a first: it was the only building that was constructed specially as a hotel. In 1908 the construction of a new recreational complex was decided upon, in order to provide the Porta Venezia area with an elegant amusement centre; hence the true birth of the Diana is dated from 1908. The buildings were all constructed around the pool, which then with time became gradually covered and replaced by an open games park. This subsequently included the theatre, the artists’ dressing rooms, the hotel-meublé, a restaurant and a sphere court for “pelota”. The Fiera Campionaria (Trade Fair) was inaugurated in 1920, just a few steps away from the hotel, and from that moment the Diana became the place to stay for generations of important Italian and foreign industrialists who attended the fairs. In addition, the jewellers who exhibited at the fair considered it unsafe to display their goods in a wooden stand, so a suit-

Focus on Italy

• Exterior Sheraton Diana Majestic • Historic pictures of Diana Majestic

able arrangement was set up for them in the dining room of the Diana. After 1920, another important date for the Diana Majestic was July 29th 1953, when Orio Vergani reunited 13 people around a table in the restaurant, in order to found a gourmet club for lovers of haute-cuisine. This encounter laid the foundation for what was to be named later “The Italian Academy of Cooking”. Vergani purposely chose the restaurant of the Hotel Diana both for the cuisine, which boasted specialities of the best Milanese tradition, and for the large garden. Still today one of the most exclusive characteristics of the Diana is the garden, considered a true rarity in Milan. However the Diana is also well known as a hotel of high fashion. One could say that in the past it testified the birth of Italian designers, which are today world-famous and even now continues this tradition by lending its reception rooms for fashion shows. In 1998, ninety years after its official original opening, the hotel was completely renovated. The architect Michael Stelea, who

coordinated the restoration, carefully preserved and highlighted the architectural peculiarities of the Liberty style building amongst which are the façade, the early twentieth century structure and a magnificent inner garden - one of the few left in Milanese style. In restoring the public areas of the hotel, particular attention was paid to the stuccos and decoration in the hotel lobby and guestrooms, as well as to the precious wooden floors with carved designs. Nowadays the Sheraton Diana Majestic hosts 107 guestrooms and suites, decorated in the classical Imperial www.sheraton.com/dianamajestic

by Paola Bettinelli

• Lobby • Hclub-Diana garden lounge • Aperitif in the garden Starwood • Hclub-Diana garden lounge-Dinner set up

style with soft colors and maximum comfort. Bathrooms are beautifully decorated with marble. Many of the guestrooms are furnished with the original antique furniture, which has been carefully restored, and have a private terrace or balcony. These balconies overlook the inside garden

[

The story of the Diana Majestic still tells of the habits and the customs of the middle to upper-class Milanese who have made this elegant hotel their rendezvous

]

where once the Milanese elite used to organize memorable parties and where nowadays the fashionable Milanese crowd meets every evening for the habitual aperitif. The hotel also features a full range of Sheraton’s signature services: In every room guests can experience the Sheraton Sweet Sleeper(SM) Bed - a nine-layer custom-designed ensemble boasting an exquisitely comfortable, plush mat-

tress, fluffy down hypoallergenic pillows, crisp cotton sheets and signature blanket and duvet. At the heart of the hotel's energetic and interactive lobby is the Link@Sheraton (SM) experienced with Microsoft. This communication hub creates an inviting space where guests can network with colleagues and fellow travelers, order snacks, surf the web on complimentary workstations, or work on their own laptops using free broadband. All guests can also workout in the Sheraton Fitness, a state-of-the-art facility equipped with the latest technology including strength and cardiovascular machines and a functional training area. The new restaurant heat>Diana, recently redesigned, enjoys a splendid position overlooking the private garden and proposes an exclusive ambiance. There one can meet with friends or organize a business lunch, tasting either the everyday>lunch menu or a relaxing Sunday brunch, whilst being pampered by Chef Paolo Croce and Restaurant Manager Salvatore Ferrara, who are both more than

able to please even the most demanding palate. The bar-foyer h club>diana was also recently renovated. Located inside the historical building, the bar overlooks the inner garden and represents a refined and elegant location to meet for an aperitif, dinner or after-dinner drinks. So, after over 100 years of history, the story of the Diana Majestic still tells of the habits and the customs of the middle to upper-class Milanese who have made this elegant hotel their rendezvous.

Focus on Italy

dio Amonese

BCCI Member profile - Stu

by Casey W. Halladay Marco Amorese

Italy Leads the European Movement for Class Actions

Damages Claims Will Create Strong Enforcement Tool to Deter Corporate Misconduct. Italy has become one of the first European jurisdictions to allow class actions for damages. The 2007 Budget Law has amended the Consumer Code to create a statutory right for certain categories of plaintiffs to bring a “collective damages action” (azione collettiva risarcitoria) to obtain damages for certain contractual or tortious claims, or in respect of unfair commercial or anti-competitive practices. Originally intended to enter into force on 30 June 2008, the new Berlusconi government delayed the launch of the new regime to 1 January 2009. Conduct Affected. A class action claim may lie wherever the “collective interests” of consumers are harmed by a defendant’s tortious acts (“atti illeciti extracontrattuali”), unfair commercial practices (“pratiche commerciali scorrette”), anti-competitive conduct (“comportamenti anticoncorrenziali”), or through the use of standard-form contracts where the purchaser does not negotiate the terms and conditions. Who Can Initiate a Claim. The pool of potential representative plaintiffs is limited to: • National consumer groups registered in a list maintained by the Ministry of Economic Development; and • Any other organisations which are “sufficiently representative” (“adeguatamente rappresentativi”) of the collective consumer interests at stake. The latter category remains undefined in the amendments, and thus something of a mystery. Potential plaintiffs may be able to avoid the lengthy qualification process required for registration with the Ministry of Economic Development and simply attempt to persuade the court, on a case-by-case basis, of their “sufficiently representative” status. It remains to be seen whether the adoption of such a vague standing threshold will

Focus on Italy

support the emergence of a US-style class actions “industry” in Italy. Initial Hearing. At the Initial Hearing, the court must determine if the claim is admissible. This is a very low threshold for the plaintiff to meet, since the claim will only be considered inadmissible if: • The claim is clearly without foundation (“manifestamente infondata”); • There is a conflict of interest in bringing the claim; or • The court concludes there is no collective consumer interest worthy of protection.

of the judgement, the defendant must serve a compensation proposal upon the plaintiffs. Where the defendant fails to make a timely proposal, or the plaintiffs do not accept it, the parties enter into a conciliation procedure (“camera di conciliazione”), whereby a panel of three lawyers (1 appointed by the plaintiffs, 1 by the defendant, and 1 by the President of the court) determine a final and binding damages figure. This process seems unnecessarily complicated, with ample opportunities here for tactical delay.

Conclusions. With the adoption of arguably the most comprehensive class actions regime in Europe, Italy Opting-In. Italy has adopted an opt- has created a strong enforcement in model. Consumers may join the tool for consumers to deter corpoclass at any time up to the final hear- rate misconduct. It also appears to ing. No particular form of opting-in have avoided some of the excesses is prescribed by the Consumer Code of the American model by retaining — individual many safeguards consumers must (e.g., limited dissimply notify the covery rights, “ Italy has become one representative loser-pay costs of the first European plaintiff in writrules, no punitive jurisdictions to allow class ing that they are damages, no civil actions for damages ” joining the class. jury trials, etc.). While the Italian However, many business commuquestions remain nity apparently lobbied for an opt-in for practitioners and the judiciary to model, the present regime may still resolve on a case-by-case basis, and create substantial unquantifiable risks this area should thus bear careful for defendant companies, as they will watching by those with an interest in be unable to assess the “bandwagon- the Italian market. jumping” risk of a flood of consumers joining the plaintiff class at any moment (a risk that may fluctuate About the authors. based on the media coverage of the The authors are Italian-, Americancase). and Canadian-qualified business lawyers, and partners of Studio Legale Assessing Liability. Curiously, despite Amorese, an international law firm having heard both sides present their with offices in Bergamo and Lonarguments and determined liability, don. the trial judge does not assess damages and issue an order in the appropriate amount. Instead, the judge provides a declaratory judgement in which he or she sets out the criteria for calculating damages and, if possible, the minimum sum to be paid to each class member. Within 60 days

www.amorese.it.

itBritain BCCI Member profile - Vis

Leading the world to Britain

Its mission is to build the value of tourism by creating world class destination brands and marketing campaigns and also build partnerships with - and provide insights to other organisations which have a stake in British tourism. VisitBritain was created on 1 April 2003 to market Britain to the rest of the world and England to promote and develop England’s visitor economy. It was formed by the merger of the British Tourist Authority and England Tourism Council and is legally constituted as the British Tourist Authority under the Development of Tourism Act 1969. It is a Non-Departmental Public Body (NDPB). VisitBritain has a vision for each of its stakeholders: • Overseas Customer: To promote Britain overseas as a tourist destination, generating additional tourism revenue throughout Britain and throughout the year • Domestic Customer: To grow the value of the domestic market by encouraging British residents to take additional and/or longer breaks in England • Tourism Industry: To help the British tourism industry address international and domestic markets more effectively • Government: To provide advice to Government and devolved administrations on matters affecting tourism and contribute to wider Government objectives • Strategic Partners: To work in partnership with the devolved administrations and the national and regional tourist boards to build the British tourism industry • Staff: To achieve all goals by making efficient and effective use of resources and by being open, accessible, professional, accountable and responsive VisitBritain is funded by the Department for Culture, Media and Sport (DCMS) through a three year Funding Agreement. This agreement states the level of funding (Grant-In-Aid) that the Government will provide VisitBritain and sets targets for VisitBritain’s performance each year.2008/9 is the first year of a new Funding Agreement with DCMS. This year, VisitBritain will receive grant-in aid of £47.9 million.

www.visitbritain.it

• Conway Castle viewed from beyond the bridge • Traditional honey-coloured limestone cottages in the quaint Cotswold village of Broadway • Arlington Row, Bibury

Structure Chairman: Christopher Rodriguez Chief Executive: Tom Wright Key Executives • Julian Aviss People & Performance Director • Kenny Boyle Distribution Services Director • Michael Bedingfield Britain International Director • Keith Beecham Overseas Network Director • Patricia Yates Strategy & Insights Director • David Philip Corporate Services Director • Sandie Dawe 2012 Strategy Director Overseas Offices VisitBritain operates in 36 marke

Overall value of tourism Tourism is one of the largest UK industries, accounting for 3.4% of the UK economy and worth approximately £85 billion. Tourism accounts for 3.4 per cent of UK GVA, and employs an estimated 2.1 million jobs in tourism in the UK, some 7.7% of all people in employment. There are more jobs in tourism than in construction or transport. £19.55 billion was spent on overnight holidays, and £9.27 billion was spent on overnight business visits in 2007. A record 33.7 million overseas visitors came to Britain in 2007. They contributed £16.6 billion to the economy. VisitBritain forecasts that in 2008 there will be a modest growth (approx. 2%) in visitor numbers and spending will remain static in real terms.

Focus on Italy

Milan - London - Real Estat

e Interview with Martin Davis Associate Director DTZ Research London By Oriana Boselli

DTZ, one of the “big four”

Local passion, global team. With 12,500 staff in 45 countries DTZ is one of the world's largest real estate advisers.

[

DTZ is a leading global real estate advisory business creating innovative property and business solutions worldwide. DTZ’s transactional business advises on the buying, selling, letting and acquiring of commercial (industrial, retail and office) and residential property. Professional advisory services include the management of property portfolios and building consultancy, rating and valuations as well as the provision of capital advice to both fund and maximise the value of property as an asset class. As property market and client requirements become increasingly international, DTZ is well placed to meet clients’ cross-border needs across Europe, the Americas and Asia Pacific. The company has more than 12,500 people operating from 150 cities in 45 countries across the globe. Just in EMEA, it is present in 33 countries, 90 cities and has a team composed by 5,500 people.

DTZ is a leading global real estate advisory business

]

It covers also Australia and New Zeeland markets and has offices in China, Japan, India and South Asia markets. In North America it has a practice of around 500 staff across 25 offices. This capability is represented by DTZ Rockwood and DTZ FHO Partners. As one of the world’s leading property advisers, the company is rooted in a long history in the property market, dating from 1784 when one of the predecessor firms, Chesshire Gibson, was founded in Birmingham, UK. In 1853, Frank Gissing Debenham and Edward Tewson founded Debenham & Tewson in Cheapside, London. A merger in 1913 with Chinnock, Clarke & Chinnock created Debenham, Tewson & Chinnocks, which established itself as a major player in the London property market. The “T” and “Z” of DTZ originate from

www.dtz.com

• DTZ Headquarter

the company’s European joint venture in 1993 with Jean Thouard of France and the Zadelhoff Group in Germany and the Netherlands, where after the company was renamed DTZ. Debenham, Tewson & Chinnocks Holdings plc floated on the London Stock Exchange in 1987, as the parent of the DTZ group of companies. The parent company was re-named DTZ Holdings plc in 1999. DTZ took part in further equity consolidation throughout Europe in the 1990s, giving it one of the most comprehensive networks of European offices of any property adviser. 1997 saw DTZ acquire Pieda plc, a UK consultancy business, which was then renamed DTZ Pieda Consulting Limited. This was rebranded in 2006 to become DTZ Consulting & Research. In 1999 following an equity exchange with Asian partners CY Leung & Co and Edmund Tie & Co, DTZ was globally re-branded and renamed to its present name DTZ Debenham Tie Leung. Throughout 2004 DTZ continued its global growth through the opening of offices in India and Bahrain and its continued expansion into China. In May 2006 DTZ announced the pur-

chase of a 50% interest in Rockwood Realty, to form DTZ Rockwood. DTZ Rockwood delivers dedicated capital markets services to clients in North America. In December 2006, the company consolidated its Asian operations with the 100% integration of DTZ Debenham Tie Leung in North Asia. In July 2007, DTZ acquired independent property consultancy Donaldsons in a move which created a market-leading retail offering to clients across the UK and EMEA, reinforcing DTZ's position in commercial real estate. In November 2007, DTZ strengthened its global reach and broadened its client service capabilities in the Americas region with the acquisition of JJ Barnicke, one of Canada’s largest full-service commercial real estate services companies. What kind of services do you offer to your customers? Globally we are organized as three regions – The Americas, Asia pacific and EMEA -Europe, Middle East and Africa. The business groups are local to the three regions and are: • Capital Markets • Occupational and Development Services • Valuation • Consulting and Research • Professional services DTZ is a leading name in all the world’s major business centres, with over 12,500 professionals operating across 150 cities in 45 countries.

Focus on Italy

Milan - London - Real Estat

What is the current position as regards the UK real estate market, after its recent period of contraction? • The volume of capital transactions has fallen considerably. • Capital values are still contracting – so far (since July 2007) they have fallen over 20%. The immediate cause is the cessation of debt driven activity and the acute reversal in property lending. • Rental values are beginning to fall – lead by the impact of a contracting financial sector in the City of London, but broadening out into the economy as a whole – consumer spending is going to be hit so it will impact retailing property, and industrial also (manufacturing output is declining and won’t recover until world trade regains momentum in 2010. What changes to your property advisory business do you anticipate in the short to medium term? • Capital transaction business has fallen significantly – it will remain weak • until investment interest revives – but debt driven investment will be absent even over the medium term, so there will be a medium term drop in the volume of this business. • Occupier markets will weaken – especially Central London (this is now starting) and national retail (especially retail warehouses) – this will broaden and deepen as the UK goes into recession in 2009. • Thus, capital investment is contracting, development advice is falling away (development activity in offices and retailing will largely cease), leasing activity will decline in volume. Consulting and occupier advice is expected to remain active, as is property management. Which are the better (or least worst) performing sectors in the British market? • Property performance by sector (office, retail industrial) is similar, with capital losses dominating total return – retail is slightly worse than the other

Focus on Italy

two sectors. • Within offices the City market is the worst performer, both in terms of capital and rental growth, while as regards rental growth the West End and regional centres are still positive. • Retail: provincial retail centres are doing worse in terms of capital growth than the West End (both are negative), while rental growth is still positive in the West End. • Industrial: the Greater London industrial markets and Glasgow are performing better than markets elsewhere. Why would a foreigner customer choose to invest in UK commercial property today? • It is the first large economy whose property sector is approaching fair value. • Property is being fire-sold – it is a buying opportunity for equity investors. • It will probably be the first market to restore liquidity. • The UK retains the advantages of having a good quality of assets (specification) and a still favourable leasing structure (length of lease, landlord advantages) What are the advantages for a foreigner investor who intends to invest with a British real estate fund? • The fund market is one of the most mature ones in Europe, giving it a high degree of liquidity, partly a function of its large size, allowing easy entry and exit. • Flexibility – a wide range of potential investment avenues (e.g. funds, REITs, both equity and debt or combinations of the two).

Some negotations concludes by Dtz in 2008: • One London Wall • 5 Savile Row, London • 38 Finsbury Square, London • 7 Bishopsgate, London

e Milan - London - Real Estat Interview with Ilario Toscani President Toscano Group By Ob

Italian Real Estate: Toscano Group

The real Estate sector’s present and future according to one of Italy’s most important real estate corporations, the Toscano Group.

[

The Toscano Group operates on a national level in the field of real estate, through a series of companies and specialised divisions designed to provide the client with the full range of services tied to a very important product: the home. The core business of real-estate brokering is serviced by a series of operating areas that include home financing, the restruc-

ence, Bari, Palermo, Cagliari, Genoa and Catanzaro. In 1997 the franchising project was initiated, with the goal of expanding the “Toscano” brand and the company’s system throughout Italian territory. As of 30 September 2008, the Toscano network in Italy worked with 250 real-estate agencies all over Italy.

turing of interiors, moving and even the management of real-estate assets. The company, which was founded in 1982 as “Toscano Immobiliare”, and has since changed its name to “Gruppo Toscano Holding”, has be-

• Villa Nomentana, Rome, Headquarters • Toscano Estate Agency Rome

breaking down the demand for real estate into different segments can also be interpreted as a full-fledged service provided to customers

]

come one of Italy’s most important real estate corporations in the course of its more than 25-year history.The core business is pursued through the two main companies: Toscano S.p.A., specialised in real-estate brokering, and Gruppo Toscano S.p.A., focused on the development of the Toscano brand and its franchising activities. The first company has 25 real-state agencies in the cities of Rome, Milan, Naples, Turin, Bologna, Verona, Flor-

www.gruppotoscano.it

What kind of services do you offer to your customers? The core business of the Toscano Group is still real-estate brokering in both the residential and office sectors. Over the years, support services have been developed for both private and business clients. First of all, lending services, thanks to Toscano Mortgages, which provides vital assistance to the real-estate consultant, in many cases playing a strategic role in the successful outcome of a transaction. At the same time, we offer our clients services of restructuring and internal design, through the company Oasi Decorating, which provides support services that are much appreciated by our clients. In a certain sense, breaking down the demand for real estate into different segments can also be interpreted as a full-fledged service provided to customers. Over

the years we have developed a division focused on up scale clients (the Guidobaldi Network, specialised in properties of prestige), while other divisions concentrate on buying and selling commercial and industrial real estate (Toscano Commercial and Industrial) and yet another division is specialised in subdivision and construction (Toscano Subdivision and Construction). Finally, there is a company for management of the real-estate assets of major public and private clients (Toscano Real-Estate Management). How would you describe the situation of real estate in Italy today, seeing that it is suffering losses after a period of growth? Despite the risk of a recession announced in mid-October by the International Monetary Fund, we believe that the real-state market remains one of the sectors of the real economy least subject to risk. Historically, capital invested in real estate has never gone up in smoke. Though there can be no doubt that the real-estate market is currently experiencing a slow period, I am firmly convinced that, in the medium-to-long run, it will always prove to be an excellent investment. As things currently stand, I do not see a rapid turnout in market conditions, but I feel safe in ensuring everyone we deal with that the realestate market ultimately preserves the capital invested, even in times of downward price trends, such as the present. Over a long-term period, real-estate values will undoubtedly rise again, making possible a very satisfying return on the funds invested. Which changes in your business do you forecast over the short or medium-term period on the Italian market? Starting in 1997-98, the market experienced sizeable growth, and it is only to be expected that, after a decade, prices would slow down, with the value of real-estate listings setting down as well. Quite often we heard

Focus on Italy

Milan - London - Real Estat

talk of a growth market, with many people being discouraged from investing on account of extremely high prices. In this new market scenario, we see a good many people who intend to invest their capital in the realestate market, as a natural response to the major crisis on the international financial market. What sectors of the Italian market are currently performing well? Right now there are no specific sectors offering exceptional performance. As already mentioned, the current situation can provide favourable opportunities on the real-estate market. Why should a foreign customer choose to invest in Italy today? Italy is a secure country, in the sense that, of the worldâ&#x20AC;&#x2122;s major markets, it has made the least use of so-called creative financing. The Italian system is based on the real economy, and, given the nature of the international crisis, that is no small advantage. One of the sectors in which there is still much to be done is tourism, especially in Southern Italy. What are the advantages for a foreign investor who is going to invest in an Italian real estate fund? Closed real-estate funds are a very interesting form of investment, less on account of their yield, than because of the fact that they have very little relation with financial and securities markets. This lends stability to financial portfolios that include a real-estate fund, especially during the current phase of turbulence on the financial market. In addition, there are the advantages offered by the stability of the real-estate market. Real-estate funds in Italy create extremely interesting opportunities for investors, on the condition that they are willing to tie up a portion of their assets for a period of 8 to 10 years.

Focus on Italy

â&#x20AC;˘ Ilario Toscano, President Toscano Group

The Italian real-estate market As of 30 September 2008, sales in the residential sector showed a decrease compared to the same period for the previous year. There was a -16% drop nationally, with the situation looking even less positive ( - 25%) when only the results for Italian cities that are regional seats are compared to the 2007 levels. The average time needed to

make sales remained essentially stable during 2008, marking a halt in the increase registered in 2007, when the average period of slightly more than 4 months recorded in January 2007 grew to 6 in the months that followed. In the first 9 months of 2008 the prices of real-estate listings fell: the decrease was more limited in the historic downtown areas of Italyâ&#x20AC;&#x2122;s major cities, which also showed shorter average sales periods than in semi-central or outlying zones. In these last areas there has been a gradual fall in prices, together with higher average sales times. This is especially true in Milan and Rome, whose historic downtown areas show average sales times well below the national average (respectively 5.2 months for Milan and 4.2 months for the Capital). The above trend can also be observed in the cities of Bologna, Cagliari, Genoa, Palermo, Turin and Verona. The key strategic variable during this market cycle is the average needed to make a sale, which we hope to see once again at the levels recorded in early 2007 (an average wait of 4 months). As we see it, an indispensable step in this direction would be to discount real-estate listings even lower than their current levels. The fact is that the buyer, in light of the increased offer of realestate properties on the market, possesses a good deal more bargaining power than in the past, including the recent past.

Homes unoccupied utilised ready for habitation

Town

Center min max

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max

Florence Milan Rome Turin

3.000 5.000 4.500 2.000

2.000 3.500 3.000 1.500

1.500 2.000 2.200 1.200

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4.500 7.000 7.500 3.000

3.200 4.500 4.500 2.400

Milan - London - Real Estat

by Gianfranco Santojanni, Esq. and Maurizio M. Maiano, Esq.

An overwiev on italian real estate investment fund structures and regulations

Real estate investment funds are particular kinds of investment funds which enable investments of a financial nature but are geared towards one of the most traditional asset investment: real estate property. They represent the investment instrument which reconciles the propensity to invest in the real estate market with the determination to invest in financial instruments, therefore combining the lesser riskiness of the real estate investment with the greater easiness of the financial investment, which does not require considerable financial resources, and allows investors to liquidate promptly their investments. Such investment instruments were introduced in Italy by the Law No. 86, of January 25, 1994 and they are currently governed by Legislative Decree No. 24 of February 24, 1998, the so-called Testo Unico sull’Intermediazione Finanziaria (“TUF”). Pursuant to Section 37 of the TUF, the Ministerial Decree No. 228 of May 24, 1999 was issued, setting forth the regulations that investment funds have to comply with (“the Regulation”). According to Section 12 of the Regulation, these funds may be exclusively of a closed-end type, therefore granting participants the right to liquidation of the investment, increased by any proceeds, at the agreed expiry date. For the sake of completeness it should be specified that the Regulation provides also for the possibility of advanced fractional liquidation and, in such a case, the fund may be defined as “halfclosed”. This does not mean, however, that until the established expiry date the investment is “frozen”: as a matter of fact, the investor is entitled to sell his participation unit, as well as to purchase further units of the real estate fund. Should these be traded on a regulated market, such possibility would be evidently even greater. Another feature of a closed-end fund is that its initial capital, as well

www.pd-mclaw.it

as the number of participation units, are normally well identified since its establishment.

to deal with these occurrences, the Regulation sets forth certain protective provisions, which are fewer in the case of a “reserved” or “opportunity” fund, or when the value of each unit of participation to the fund amounts to € 250.000 or more. In other words, the protection decreases when the financial instrument is addressed to those who are or presumed (based on specific qualitative benchmarks – i.e. the underwriting of opportunity fund units – or quantitative benchmarks – i.e. the considerable amount of the minimum share to be underwritten) to be “sophisticated” investors.

Moreover, under Section 1d) bis of the Regulation, real estate investment funds may invest first and foremost, if not exclusively, in real estate, rights therein and holdings in real estate investment companies, all of which can be defined as the “Characterizing Assets”. These should indeed represent at least 2/3 of the total value of the fund, except for the case in which the fund capital is invested, by not less than 20% of its value, in financial instruments representative of securitization transactions regarding real estate prop- In a nutshell, by reserved fund it is erty, rights therein or debts secured meant that in which the units may by mortgage, which can be referred be underwritten by accredited investo as the “Alternative Characterizing tors only, while by opportunity fund Assets”. In this that which is case, investments from “the protection decreases exempted in Characterizthe prudential ing Assets, under when the financial instrument rules laid down no circumstance, by the Bank of is addressed to those who may amount to Italy aimed at are or presumed to be not less than 51% controlling and “sophisticated” investors. ” of the fund total spreading the value. risk. Under SecIt is required that these minimum tion 16 of the Regulation, the total investment thresholds in the Charac- number of investors for an opporterizing Assets or Alternative Char- tunity fund may not exceed 200 in acterizing Assets are reached within number and the minimum amount 24 months from the setting up of the of the initial indivisible participation fund. unit to underwrite may not be less than € 500,000. The internal regulation of the fund may provide for the possibility to Finally, the Regulation establishes, underwrite a participation in the inter alia, a 60% debt leverage ratio fund also by means of a contribution limitation for real estate investment of Characterizing Assets, at the time funds, which is not applicable to opof the establishment or later. portunity funds. The general prohibition, valid for closed-end funds, to invest the capital fund in assets directly or indirectly sold or contributed by quotaholders, directors or auditors of the fund management company, or affiliates, does not apply to real estate investment funds, even though, in order

Maiano, Catucci & Pisano, De Vito Studio Legale Piazza del Duomo 20, 20122 Milano T +39 02 7222201 Via A. Gramschi 26, 00197 Roma T +39 06 8079087

Focus on Italy

ry - AIdAF

Milan - London - Success Sto

Interview with Gioacchino Attanzio By Pb

Family Business Italian Association (AIdAF)

Italy has a fabric of small and medium-sized family-business enterprises: AIdAF helps them to promote their success and sustainability.

• Maurizio Sella, President • Gioacchino Attanzio, General Manager • AIdaF logo

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AIdAF, Associazione Italiana delle Aziende Familiari (Family Business Italian Association), (www.aidaf.it) is a non-profit association founded in 1997 and made up of family businesses and family business members. AIdAF’s main goal is to protect and develop values that are specific to family business. The members are owners of companies in which one family or more, connected to each other through family relations or partnerships, has the

The family business are in all sector of economy

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power to nominate its management. The Association is today composed of 180 family businesses, which as a whole represent approximately 10% of national GDP. AIdAF is the Italian Chapter of Family Business Network (FBN), the world's leading network of business-owning families founded in 1990, now with 24 national and associate chapters. The family businesses have some strengths: ownership stability; long term commitment to shareholders, convergence of ownership and management objectives, highly committed collaborators. AIdAF tackles issues that are crucial for family business, such as: taxation on

Focus on Italy

inheritance, generational continuity, family pacts, corporate governance. Which particular positive and negative aspects does the Italian economic system present for family businesses? Worldwide, family businesses make up the majority (at least 60%) of all businesses, and often the management is in the hands of the family. Family businesses are the backbone of the global economy and are the most common form of business structure. Italy has a fabric of small and medium-sized enterprises established in the second post-war period, and managed by the first, or second generation. Most of these family businesses have to face a generational transition in the current complicated economic situation. Besides this widespread aspect, which could be a weakness of the Italian economic system, there are the medium-sized and large family businesses, representing a low but very important percentage of enterprises, which contribute in a decisive way to the national GDP and employ about two-thirds of the Italian workforce (working class). Most of our members belong to this category and they have already faced at least one generational transition or more. Family businesses have a longer term view than public companies.

Which is the kind of activity that occupy family businesses at most? The family business are in all sectors of the economy, including the innovative fields and capital intensive sectors. What is AIdAF task? It is to promote the success and sustainability of family businesses. We can do this in many ways: survey of the changes in Italian family business, training for the new generation, also through support of the AIdAF professorship in the Bocconi, and with meetings on various topics relevant for the family business's owner. Not least, with lobbing on generational continuity and overall on the Italian legisltative frameworks regarding family business issues about Inheritance. Which is the way to become an AIdAF member? To become an AIdAF member, a Family Business should be mainly owned and managed at least by the second generation of the founding family, or families. Moreover, AIdAF members must have up to 30 employees and a Consolidated Net Asset value of at least five milion Euros with possible exceptions for enterprises in the services sector and companies in Southern Italy. www.aidaf.it

ry -Sutter

Milan - London - Success Sto

by Ob

150 years of history for a family brand

Sutter, a company that has grown in step with the varied experiences of the family that owns it.

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The Sutter Group is an Italian multinational business that manufactures and markets premium products for the cleaning, care and disinfection. The company operates in two markets: the Consumer Division targets consumers of household cleaning products, concentrated mostly in Italy. Emulsio is the leading brand in italian market with 96% of brand awareness and ranking third in Floor Care mkt segment and second in Dust Removers. The Professional Division, that targets professional users such as industrial premises, hotels, restaurants, offices, schools, hospitals, industrial laundries and car washes, covers Europe (Italy, Spain, Portugal and France), South

The Sutter family founded the company in 1858 in Switzerland, and has passed it along through 5 generations, with always only one man per generation in command

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America (Argentina and Chile) and it’s also present in other 30 countries throughout Sutter International Division (export). The production plant and the corporate offices are located in Borghetto Borbera in the Alessandria province, in the heart of North-Western Italy. In 1858 Adolf Sutter based in Oberhofen/ Münchwilen, in the Swiss canton of Thurgau, the company Krauss-

www.sutter.it

Sutter for the production of vinegar applesin, where two years later he began to produce glossy from shoes Sutter-Krauss. In 1884 Adolf Sutter died, and his wife guided the company until 1894, when Arthur Sutter assumed the leadership of the company. In 1907 he created RAS, the first shoe polish water-based and without turpentine, and in 1911 he began the production of transparencies and cleaning products under the brand names ROB, OTTOL and CERVINA. In 1919 Arthur Sutter entrusted his son Adolfo the management of italian branch in Genoa, and in the same year was born shoe polish MARGA. In 1928 the Sutter continued to expand and ran on the italian market the first pack of bright with the “butterfly” opening. Between 1929 and 1932 Arthur Sutter planned the transition generation, assigning to the firstborn Adolfo the holding of Genoa and its countries of the Mediterranean and to the second son Alfred the Swiss factory and the area of Northern Europe. In 1940 Italy took part to World War II. Sutter didn’t close, but chose to reduce the production (-92%) in order to mantain high quality, reaching in 1945 the lowest point (8%) of the production of a normal year. In 1946 at the end of the war Sutter resumed immediately the activity with great success, and in 1952 started the production of Emulsio liquid wax. In 1954 Arturo Sutter took the place of his father Adolfo driving italian branch, while in the same year Alfred Sutter created in Switzerland the mark Sutter Taski for professional cleaning. In 1959 goes on air the first TV SPOT Sutter entitled “Today is fashion…” for slides shoes Marga and the following year the bottle of wax Emulsio with the pumping handle won the packaging Oscar 1960. Sutter Italy and Sutter Switzerland introduced into the italian market products and machines for professional

• Ing. Aldo Sutter, Ad Sutter Group • Sutter’s book cover • Factory in Borghetto Borbera

cleaning with the mark SUTTER TASKI in 1966, while in 1967 they started the production of Tergex mangiapolvere, the first antistatic product for the removal of dust. In 1976 Alfred Sutter died without children, and his wife decided to sell the business and trademark Taski at the multinational Anglo-Dutch Unilever. In 1981 born in Italy the mark Sutter Industrial, which will become in 1994 Sutter Professional. In the same year, the Sutter Italy ceased production and marketing under the brand name Taski. In 1993 Aldo Sutter, the son of Arturo, assumed the leadership of the company. In 1995 started the production of Emulsio Facile, the self liquid wax. 1998 the group Sutter obtained Certification of Quality System ISO 9001, and in 2003 the Certification of Environmental Quality System ISO 14001. In 2004 Sutter established an agreement partnerships with Procter & Gamble for exclusive distribution of their products in the italian professional field, and also in Spain and Portugal. 2007 Sutter obtained European certification Charter for Sustainable development which guarantees all business on the basis of sustinable development, health and safety. Sutter’ success is based on tradition built around the Sutter Logo, synonymous with professionalism, innovation, and quality.

Focus on Italy

ry Milan - London - Success Sto

-Azimut

By Ob

From the passion for the sea into an important business: Azimut-Benetti

Thanks to its technological and technical excellence, Azimut-Benetti is the world’s biggest builder of mega yachts.

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Azimut-Benetti is the biggest mega yacht production network, Europe’s first shipyard and among the world’s top. The group, to which the prestigious Azimut Yachts, Atlantis and Benetti Yachts belong, offers a range of motor yachts whose length spans between the smaller Atlantis sport cruiser’s 30 feet and Benetti’s 70 meter and more. The Azimut-Benetti group produces about 600 motor yachts a year in its 7 shipyards, which are located in Avigliana near Turin, Viareggio, Livorno, Sariano di Gropparello in the Emilia region and Fano in the Marche region. Azimut-Benetti’s technological and technical excellence has always been the company’s defining trait from the very start and it has made sure that cutting edge research, design and new materials always stayed at the forefront. This allowed the company, to receive the ISO 9001 certificate in 1996 by the Italian Naval Register. Azimut-Benetti’s history dates back to 1969, when Paolo Vitelli founded Azimut Srl, a sailing boat chartering company. He thereby started turning his own passion for the sea into an important business.

Azimut-Benetti guarantees high end services for charter and manage yachts in the world

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In 1970 some prestigious yachting brands such as Amerglass, Westerly, British Powles and Draco appointed the new company in order to distribute their own boats in Italy. Later on, Azimut Srl decided to design its own boats and to put them on the market, but left the construction process to others. Between 1975 and 1980 the company designed its first handmade models in fiberglass and introduced them on to the Italian market directly. In those years the company conquered a prestigious central position in this sector and quickly became one of Italy’s foremost companies spe-

Focus on Italy

• Azimut Yachts 70 • Paolo Vitelli, Chairman

cialized in the import and distribution of “pleasure boats”. In 1985, with the acquisition of the historical Benetti Brothers shipyard in Viareggio (which had been founded in 1873 by same family) Azimut inherited the great technical experience that had always defined this company. In 2001 the group acquired the Gobbi shipyard near Piacenza, which now produces open engine yachts between 10 and 18 meter long under the new Atlantis brand. In autumn 2004 the group, which had become Azimut-Benetti SpA in 2003, also gained control of Fraser Yachts Worldwide and started developing sophisticated and innovative services in order to simplify the ownership and use of mega yachts. In May 2008 Azimut-Benetti created a new strategic services division, Yachtique Elite Yachting Services. Born with the objective of consolidating AzimutBenetti as market leader in the nautical services sector Yachtique responds to owners' needs on both sea and shore through five specialized business units: Yachtique Styling Lounge (yacht customization service), Yachtique Crew Academy (crew selection and training), Yachtique Financial Services (financial services), Fraser Yachts (charter and yacht management) and Yachtique Marinas (creation and management of tourist harbors).

The investments by Paolo Vitelli, who is the current chairman of the group and are concentrated not only at yacht production but also at building modern ports in Italy. The group’s approach wants to integrate the port with its surroundings, so that customers can also enjoy completely equipped tourism, leisure and residential centres near the moorings. The projects achieved see the realization of the Marina di Varazze in the Liguria region, of the Marina di Viareggio and of a Marina in Moscow terminated in 2007. Europe continues to be the market reference (about 56% of total production, stable compared to last year), followed by the Americas (22% decrease compared to 2006-2007) while the emerging market (China, Middle East, Africa and Australia) represent 22% of the production, more than double from last year’s. For the future, the investments of the Azimut-Benetti Group will be focused on four fundamental fields of intervention: new models, installations, technology, R&D, construction and development of marinas. This orientation is the confirmation of the will of the Group to continue to offer luxury yachts, high quality post-selling services and very high competences in technical assistant. www.azimutyachts.com

ry Milan - London - Success Sto

The Tercentenarians’ Club by Ob

Britain's most exclusive business club

A prestigious club opened just to businesses that had been in existence for over three hundred years.

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The Tercentenarians' Club has been described – although not by its members – as 'Britain's Most Exclusive Club'. Its membership is confined to businesses that are at least 300 years old and have also maintained a connection with the families of their founders throughout that time. The first gathering of an old firms' club actually occurred on October 18, 1967. It was hosted by Hedges & Butler, the wine merchants in Regent Street, to mark their own 300th anniversary. The gathering took the form of a lunch served in the cellars beneath the shop. Some 22 companies attended and the guest of honour was the then Prime Minister, Harold Wilson. The affair was (understandably!) a huge success, but Hedges & Butler had not stipulated a need for a direct family connection and in fact only three of the companies at this gathering (one of which was Durtnell) would have qualified as Tercentenarians. Two years later in 1969, on the occasion of the firm's 300th anniversary, Richard Early, Chairman of Charles Early & Marriott, blanket weavers of Witney, Oxon, hosted an even more select lunch at The Swan Hotel, Minster

The Tercentenarians' Club has been described as 'Britain's Most Exclusive Club'

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Lovell. This time the companies had to have retained their family connection and as a consequence, just four companies were represented. In addition to Early, these were R Durtnell & Sons Ltd – whose then Chairman, Geoffrey Durtnell, had suggested forming the club – James Kenyon & Son (textiles) and Tissiman the Tailors. The Tercentenarians' Club was born. Although intended simply as a lighthearted one-off, the meeting and the lunch have since become an annual fixture. The second meeting of the Club was hosted (at his suggestion)

by Geoffrey Durtnell at Brasted. The same people gathered (except for James Tissiman, the last of his line, who had died earlier in the year) and again the occasion was much enjoyed by everyone. Also present were Geoffrey's two sons, Richard and John – now the current Chairman at Durtnell, and Geoffrey's old friend, Henry Button, who was Honorary Secretary of the Tercentenarians until 2001. There are now 12 members and firms that qualify with the original criteria include Durtnells, C Hoare and Co the bankers, Berry Bros and Rudd wine merchants, Toye, Kenning and Spencer the craftsmen, John Brook and Sons Holdings, Folkes Holdings, Peter Freebody the Thames traders and Lock and Co the hat makers. The membership criteria have been recently widened to allow ancient firms with no original family connections. Current members must have at least three generations of family connection within the last 50 years. New members, recruited in 2007, include the Shepherd Neame brewery, Twinings Tea, Fortnum and Mason the department store, and the Whitechapel Bell Foundry. Over the years, the number of companies belonging to the Club has increased, although some have ceased to qualify having lost the family connection in some way, such as Charles Early & Marriott are no longer members following the death of Richard Early and the company was subsequently taken over, and Tissiman the tailors have also gone. The Club now boasts some foreign associates, the latest recruit being the world-famous Italian gun firm, Beretta (well known to James Bond fans as the manufacturers of 007's one-time weapon of choice). The Tercentenarians' Club has no constitution, no annual subscription and membership is by invitation only. As a consequence is reckoned to be one of the least rancorous clubs in the world!

• logo Whitechapel Bell Foundry • logo Fortnum & Mason • logo Shepherd Neame • logo C Hoare & Co

The full current list of members is as follows: • Berry Bros & Rudd (1699) • J ohn Brooke & Sons Holdings (1541) • R Durtnell & Sons Ltd (1591) • Folkes Group Plc (1697) • Fortnum & Mason (1707) • Peter Freebody & Co Ltd (circa 1707) • C Hoare & Co (1672) • James Lock & Co (1642) • Shepherd Neame (1698) • Toye, Kenning & Spencer (1685) • Whitechapel Bell Foundry (1570) • Twinings (1706) Foreign associates: • France - Hugel et Fils (1639) • Germany - Eduard Meier (1596) • Freiherr von Poschingerische (1568) • Italy – Beretta (1526) • Japan - Kikkoman Corp. (1630) • Usa - Rhoads, Newark (1702)

Focus on Italy

ry Milan - London - Success Sto

- R. Durtnell & Sons

By Ob

The Britain’s oldest building company

R. Durtnell & Sons Ltd is a founding member of Tercentenarians’ Club and carries on its business in the best way since 1496.

R Durtnell & Sons Ltd is a founding member of Britain's most exclusive business club - The Tercentenarians Club. The club was founded in 1970 by Geoffrey Durtnell and Richard Early (Early’s of Witney, blankets & bedding, founded 1669). R Durtnell & Sons Ltd is Britain’s oldest building company and has earned an enviable reputation for quality work, fine craftsmanship and business integrity. As a family, the Durtnells themselves are no less remarkable: they can trace their ancestry back to the Norman Conquest, although the family tradition that there is a direct line of descent from the nominally celibate St Erkenwold (circa 600AD) has proved somewhat more difficult to substantiat. What is certain is that the company’s present head office in Rectory Lane, Brasted, stands on land which the family has occupied since 1496 and that during the Dissolution of the Monasteries, a less than scrupulous ancestor, Robert Darknall (sic) was already heavily involved in property, notably the purchase and sale of lands and buildings belonging to the local monastery. Operating on the fringes of the court, it seems likely that Robert, a colourful character, eventually overreached himself and ended his days on the gallows. The first recorded mention of building, as opposed to property, in the family - and hence the year from which Durtnells dates its existence - is 22 July 1591, when John Dartnall (sic) married Ann Hearst, registering his profession as ‘carpenter’, synonymous with ‘builder’ at a time when most houses were of timber-framed construction. The first recorded house, built by John Dartnall and his brother Brian, was an oak-framed property called Poundsbridge Manor, just outside Penshurst in Kent, built for their father, William Dartnall, who was Rector of Penshurst. The house still stands today in fine condition, bearing the date 1593. Durtnells has always been a family firm, but in the widest sense of the term. Durtnells has always valued loy-

Focus on Italy

• Alex Durtnell Director of R Durtnell & Sons • Company's brand

alty and integrity and as a result has attracted many individuals who, by their hard work and talent, have contributed significantly to its progress. Notable names in the Durtnell Hall of Fame include Ernest Golds - who was hired by Richard Durtnell in 1877 and was the company’s administrative lynchpin for over fifty years, Bill Cook and Bert Trussler. Without their input and the input of others like them, Durtnells would not be the company it is today - lean, aggressive, confident, ready to meet and overcome the challenges of a sixth century of trading. Today, R Durtnell & Sons Ltd employs approximately 200 full-time staff. The company is still privately owned by members of the Durtnell family. Annual turnover is in the region of £40 million and the company is active in central and greater London and its environs, particularly Kent, Surrey, Sussex, Berkshire and Hampshire. The firm has obtained BS EN ISO9002 Quality Assurance Certification and is a member of the Chartered Builders Scheme. Durtnell is keen on staff training and is one of the few remaining companies in the South-East to run an apprenticeship scheme, allowing youngsters to acquire the skills they will need for a career in the the modern building industry. The Joinery Shop at Brasted services both offices and is also available to un-

dertake work from outside contractors. The company undertakes all types of civil contracts. In addition to new build work, Durtnells are adept at the restoration and renovation of historic buildings. Customers include private clients, public companies, local authorities, the armed forces, The National Trust, public service bodies, housing associations, hospitals, schools and universities. Durtnells has been involved in many restoration projects over the years with works to listed churches, houses, gal-

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has always been a family firm, but in the widest sense of the term

leries and other public buildings. Such projects require close liaison with the design team and conservation specialists to ensure that the integrity of the structure is retained. The followed methodology is strongly in favour of repair rather than replacement, trying to retain as much of the original fabric as possible.

www.durtnell.co.uk

]

ry - Twinings

Milan - London - Success Sto

by Ob

Over 300 years enjoying tea

Tradition, variety, best ingredients: Twinings is at the forefront of the tea trade, driving innovation and quality around the world.

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Twinings, the world-famous English tea company, celebrated its 300th anniversary in 2006. Tea was officially introduced to England by the young Portuguese wife of Charles II, Catherine of Braganza, in 1662. She served it to her aristocratic friends and soon tea became the fashionable drink of the day. Twinings was one of the very first companies to introduce tea drinking to the British when, in 1706, Thomas Twinings started selling tea from his newly purchased Coffee House in London. The location of the shop (still existing at the number 216) on London’s Strand was perfect. It straddled the border between Westminster and the City of London, an area that was newly – populated with the aristocracy displaced by the Great Fire of London. When the first hit London society in 1706, Twinings’ teas presented a smooth, refreshing alternative to coffee and the ale that most people drank back then from the moment of waking up. Despite high taxes and opposition from vested interests, the fashionable classes flocked to buy tea from Tom’s Coffee House. Only wealthy could afford to drink tea: in 1706, Twinings Gunpowder Green Tea was selling for a price that is equivalent

Twinings is totally dedicated to creating new tea-drinking experiences

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today in the UK to more than £ 160 for 100g. Now enjoyed in over 115 countries, Twinings continues to enjoy the reputation of setting the standard in tea blending and as pioneers in catering to every palate and drinking occasion, producing nearly 200 different blends for tea drinkers across the world. Since 2007, Twinings has become one of the members of Tercentenarians’ Club. In fact, if you were today to wrap the string used for Twinings tea bags used in one year around the world at the equator, it would go around more than fifteen times!

www.twinings.com

Twinings’ teas range from contemporary fruit infusions and herbal teas to its most popular blends: English Breakfast and the world-famous Earl-Grey, an example of the fine, bespoke tea Twinings was able to blend to individual customer’s requirements in the 1830s. “There is no doubt in my mind that Charles, the second Earl Grey, asked Twinings tea merchants to blend this special tea for him back in the early nineteenth century – resulting in the blend that is so popular today”, says Stephen Twining- a tenth generation member of the famous tea family and world renowned tea expert. In the early eighteenth century, tea - drinking was for privileged few. Punitive taxes kept the prices high, and soon Twinings was attracting an aristocratic, even royal, following. Richard Twining recognised the huge potential if only tea could be made more accessible. So it was in 1784 be persuaded the Prime Minister William Pitt to pass the Commutation Act. Prices were slashed, consumption doubled and tea was on its way to becoming the drink of the nation. “We’ve always had a simple philosophy at Twinings – to be totally committed to producing the highest quality teas and to make them accessible to everyone”, explains Stephen Twining. “Our strength has always been in sourcing and using only the finest ingredients from day one, even back in the eighteenth century when smugglers were undercutting honest tea-suppliers’ prices by selling impure teas. Tea was an incredibly prestigious and expansive product but Twinings was never tempted – as others were – to use rogue ingredients to add bulk- the addition of soil wasn’t uncommon!” Right from the beginning Twinings has focused on accessibility and introducing consumers to new, exiting and exotic tea options – from Darjeeling to decaffeinated; from green tea to speciality blends. Twinings was honoured in 1837 by Queen Victoria, when she appointed Twinings as the official supplier of teas to her household. Twinings had the honour of supplying every successive British Monarch

• Tea Time • Twinings Strand Shop

to date. What’s more, Twinings also holds the world’s oldest company logo in continuous use (it was used for the first time in 1787). “Twinings is totally dedicated to creating new tea-drinking experiences, and enhancing the traditions which are already so well - loved around the world. I think this goes a long way explain why tea is as popular today as centuries ago when enthusiastic consumers included the renowned eighteenth century author Jane Austen”, says Stephen Twining.

Focus on Italy

llery Pavilion Art & Culture - Serpentine Ga

By Ob

Visiting the Serpentine Gallery Pavilion

Serpentine Gallery is one of London’s best-loved galleries for modern and contemporary art. Its Exhibition, Architecture, Education and Public Programmes attract approximately 750,000 visitors a year and admission is free. In the grounds of the Gallery is a permanent work by artist and poet Ian Hamilton Finlay, dedicated to the Serpentine’s former Patron Diana, Princess of Wales.

Serpentine Gallery Pavilion 2008 Designed by Frank Gehry photograpy by John Offenbach

The work comprises eight benches, a tree-plaque, and a carved stone circle at the Gallery’s entrance. The Serpentine Gallery Pavilion series, now entering its ninth year, is the world’s first and most ambitious architectural programme of its kind, and is one of the most anticipated events in the international design calendar. The Serpentine Gallery Pavilion commission was conceived by Serpentine Gallery Director, Julia Peyton-Jones, in 2000. It is an ongoing programme of temporary structures by internationally acclaimed architects and individuals. It is unique worldwide and presents the work of an international architect or design team who, at the time of the Serpentine Gallery's invitation, has not completed a building in England. The Pavilion architects to date are: Olafur Eliasson and Kjetil Thorsen, 2007; Rem Koolhaas and Cecil Balmond, with Arup, 2006; Álvaro Siza and Eduardo Souto de Moura with Cecil Balmond, Arup, 2005; MVRDV with Arup, 2004 (un-realised); Oscar Niemeyer, 2003; Toyo Ito with Arup, 2002; Daniel Libeskind with Arup, 2001; and Zaha Hadid, 2000. Each Pavilion is sited on the Gallery’s lawn for three months and the immediacy of the process - a maximum of six months from invitation to completion - provides a peerless model for commissioning architecture. This year the

project management of the Pavilion is being provided for the Serpentine Gallery by Jonathan Harper, Joanna Streeten and Tim Morse at Savant. The Serpentine Gallery Pavilion 2008 (20 July – 19 October) is projected by legendary architect Frank Gehry. The spectacular structure – designed and engineered in collaboration with Arup – is anchored by four massive steel columns and is comprised of large timber planks and a complex network of overlapping glass planes that create a dramatic, multi-di-

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Focus on Italy

Frank Gehry’s visionary Pavilion is remarkable and will be a landmark for the city

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mensional space. Gehry and his team took inspiration for this year’s Pavilion from a fascinating variety of sources including the elaborate wooden catapults designed by Leonardo da Vinci as well as the striped walls of summer beach huts. Part-amphitheatre, partpromenade, these seemingly random elements make a transformative place for reflection and relaxation by day, and discussion and performance by night. Frank Gehry said: 'The Pavilion is designed as a wooden timber structure that acts as an urban street running from the park to the existing Gallery. Inside the Pavilion, glass canopies are

hung from the wooden structure to protect the interior from wind and rain and provide for shade during sunny days. The Pavilion is much like an amphitheatre, designed to serve as a place for live events, music, performance, discussion and debate. As the visitor walks through the Pavilion they have access to terraced seating on both sides of the urban street. In addition to the terraced seating there are two elevated seating pods, which are accessed around the perimeter of the Pavilion. These pods serve as visual markers enclosing the street and can be used as stages, private viewing platforms and dining areas.' Julia Peyton-Jones, Director, and Hans Ulrich Obrist, Co-Director said: 'It is an exciting moment for London. Frank Gehry’s visionary Pavilion is remarkable and will be a landmark for the city.' The Pavilion is the architect’s first built structure in England. He has collaborated for the first time with his son Samuel Gehry. Since 2001, Peter Rogers, Director of Stanhope, has donated his expertise to all aspects of the Serpentine Gallery Pavilions and he continues to play a major role. The Pavilion is a fully accessible public space in the Royal Park of Kensington Gardens, attracting up to 250,000 visitors every Summer and is accompanied by an ambitious programme of public talks and events.

www.serpentinegallery.org

Art & Culture - Royal College

of Art by Edm

The Core of British Art

Royal College of Art: A School where professionals today are the Artists of Tomorrow.

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England, and London in particular, are increasingly at the heart of the contemporary art scene. Among museums, showrooms and various events, the capital is certainly the birthplace of design: the new trends are popular showing a new way of being and living. Creative core of the latest international trends, London now boasts the title of capital of modern design started in the 21st century and, it is no coincidence that located right here is the only university in the world to offer specialized courses in Art and Design: the Royal College of Arts. In recent years, the college has become a real catalyst for talent especially in the field of photography and visual arts. The Royal College of Art started life in 1837 as the Government School of Design, located in Somerset House in the Strand. Following the Great Exhibition of 1851, this relatively small-scale operation was radically transformed to accommodate art as well as design, leading the institution to be rechristened as the National Art Training School at its new home in South Kensington. In 1896 it became the Royal College of Art. In 1967 the College was granted a Royal Charter, endowing it with university status and the power to grant its own degrees, and which states that “the objects of the College are to advance learning, knowledge and professional competences particularly in

The Royal College of Art’s staff, students and alumni comprise an internationally renowned community of artists, designers and academics who play a significant role in the shaping of modern culture.

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the field of fine arts, the principles and practice of art and design in their relation to industrial and commercial processes and social developments and other subjects relating there to through teaching, research and collaboration with industry and commerce”. The Royal College of Art’s staff, students and alumni comprise www.rca.ac.uk

an internationally renowned community of artists, designers and academics who play a significant role in the shaping of modern culture. The RCA’s courses are held by internationally renowned artists, practitioners and theorists, using the College’s state-of-the-art facilities and outstanding research resources. As well as welcoming international students, the College’s global dimension is enhanced through partnerships with leading art, design, cultural and educational institutions and through extensive links with businesses, both nationally and internationally. The economic rise of the creative industries in the UK has been explosive, with over half a million people employed therein in London alone, contributing over 21 billion to the city – it all adds up to creativity being an essential part of the success of the capital’s very modern economy. At the heart of this success lies the Royal College of Art. According to the most recent figures, an average of 92% of the RCA’s graduates find work in directly related employment and at the right professional level. So, recognised for the outstanding quality of its graduates, the College boasts such note-worthy alumni as Sir James Dyson, Thomas Heatherwick, David Hockney, Tracey Emin, Christopher Bailey, Julien McDonald, Alison Jackson, Idris Khan, David Adjaye, AOC, Suzie Templeton, Sir Ridley Scott – the list goes on. To this day, the RCA remains the world’s only wholly postgraduate university institution of art and design, offering Master of Arts (M.A.), Master of Philosophy (MPhil) and Doctor of Philosophy (PhD) degrees in fine art, applied art, design, communication and humanities. It is the most concentrated community of young artists, designers and communicators to be found anywhere. The departments of specialization is subdivided into animation, architecture, ceramics and glass art, communication, design, restoration, interactive, arts goldsmith, product design and fashion, painting, photography, sculpture, textile, automobile design, print and film. The College has 745 Master’s students with approximately 100 research degree students, and a teaching staff of over

• Karola Torkos Jewellery designer

100 professionals, all of whom are leading art and design practitioners in their own right, along with an impressive roll call of visiting professors, lecturers and technical advisors. In 2008/9 the tuition fee for UK and EU students is £4,780. The College administers a bursary scheme for full-time students from England, Wales, Northern Ireland and other EU countries, and annually allocates £2.8million. So the RCA aims to achieve international standards of excellence in the postgraduate professional education of artists and designers and related practitioners through the quality of its teaching, research and practice and through its relationships with the institutions, industries and technologies associated with the disciplines of art and design. The work environment at the RCA supports a mission of research and education. Regardless of role, the College values each individual’s contribution and offers professional development through opportunities for on-site learning as well Focus on Italy

Art & Culture - Royal College

as a number of other opportunities for career advancement and development. The aim is to improve the quality of the professional experience by enabling your staff to fully engage with a vibrant and stimulating workplace. One of the most exciting events on the College calendar – and indeed London’s annual art and design calendar – is undoubtedly the graduate show. The culmination of the hard work of all students, it is, in essence, a series of exhibitions at the end of the summer term featuring the output of final-year MA, MPhil and PhD students. But SHOW RCA is so much more than a graduation event. It is in fact an opportunity for RCA students to make what is for many their first real mark as a professional practitioner, to present their work to the worlds of art and design. It is where heads of industry and the arts are able to meet potential employees, and prospective clients are able to commission new work. The Rector of the Royal College of Art, Sir Christopher Frayling, said that the College’s annual Shows have become a major ﬁxture in the calendar of art and design, even more so after the year 2007. They are a series of individual exhibitions amounting to one big exhibition, a glimpse into the ideas factory of the College itself, an opportunity to open the doors to the public even wider than before, a testing of research ideas, and a calling card on behalf of all the talented exhibitors who are in the process of launching themselves into their various professional worlds.

Student Story

Interview with Karola Torkos The RCA offered jewellery designer Karola Torkos the freedom to experiment, to find her own artistic direction, and liberation from the constraints of a production line. The 32-year-old German, who graduated in 2006, studied jewellery arts at Erfurt University and did an apprenticeship in gold- and silversmithing before moving to Norway to work as a goldsmith. “Doing 150 rings all the same bored me to pieces, and I knew I wanted to make more of

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of Art

my career than sitting on a bench,” she said. Torkos applied to the College from Norway after doing a lot of research to find the right place. “It sounded really interesting, the projects they did, and more conceptual than I had been used to.” “They were two very intense years. After the first year I was still quite confused – all of us were – but somehow at the beginning of the second year, we found we were taken in a new direction and everything became really focused.” During her course she took advantage of the College’s partnership projects with commercial companies, working and learning with luxury jeweller Theo Fennell. “In the beginning I was superscared – this guy is really big,” she said. “But I learned so much from it. I would go and see him and he would empty this great bucket of ideas over my head. He has such a knowledge when it comes to art, not just jewellery, and he was really open-minded, open to my suggestions and what I would like to look into,” she said. Torkos is still in touch with Fennell, who takes a close interest in her work and exhibitions. Torkos finished her two years with a collection of changeable and adaptable jewellery, which sparked a lot of interest and is a theme that has since taken off. “It’s pieces that are interchangeable: that you can interact with, that the wearer can change what it does, how it looks, the colour and the function.” She set up a studio with fellow graduating students and immediately had work exhibited internationally. She also began teaching and now works at the University of Hertfordshire and at City Lit, where she teaches a City and Guilds course as well as taking part in a project teaching jewellery-making to disadvantaged women in London. In 2008 Torkos switched studios to Walthamstow, where she has joined a group of silversmiths for “new influences”. Teaching supplies her bread and butter and designing fulfils her creative spirit. “The things I’m doing are very wearable but they are not super-commercial. I made a conscious decision to keep it non-commercial for the time being,” she said. That said, the indefatigable Torkos is constantly busy with projects, shows

and collaborations. She has exhibited her work both in solo shows and collections at the V&A in London, in Milan, Germany, Belgium, Austria, the Netherlands and Korea. “The RCA showed me there are so many different ways of working….It opens so many doors. If people know you come from the College they are immediately interested,” she said. “It allowed me to find my own way. All of a sudden I felt quite free to work the way I wanted.”

Jewels by Karola Torkos • Bloom Ruby • Garland Noir

Art & Culture - Accademia

di Brera

Una kermesse di artisti

Situata nel cuore di Milano, conosciuta in tutto il mondo, l’Accademia di Brera concorre da anni allo sviluppo della cultura, della produzione e della ricerca artistica libera e avanzata.

• Immagini dell'Accademia di Brera

Verso la metà del ‘700 le volute “capricciose” dello stile barocco vengono adombrate dal desiderio di ritrovare una maggiore austerità estetica che sfocerà, ben presto, nel nuovo stile neoclassico; l’idea di creare una scuola capace di diffondere questo nuovo gusto artistico nasce nella città di Milano. L’istituto scolastico passato alla storia come Accademia di Belle Arti ha sede nel Palazzo di Brera; sorto sul luogo di un convento dell'ordine degli Umiliati, il palazzo passò nel 1572 ai Gesuiti che nel secolo successivo ne affidarono la radicale ristrutturazione a Francesco Maria Richioni. Con lo scioglimento della Compagnia di Gesù nel 1772 il palazzo ricevette un nuovo assetto istituzionale in cui, accanto all’Osservatorio e alla Biblioteca, vennero aggiunti nel 1774 l’Orto Botanico e nel 1776 l’Accademia di Belle Arti grazie all’imperatrice Maria Teresa d’Austria, il cui scopo principale ero quello di "sottrarre l'insegnamento delle Belle Arti ad artigiani e artisti privati, per sottoporlo alla pubblica sorveglianza e al pubblico giudizio". Il progetto di recupero del palazzo venne affidato all’architetto Giuseppe Piermarini che, nello stesso anno, ottenne anche la prima cattedra di Architettura dell'Accademia. Mentre l'architetto curava il completamento dell'edificio, l'accademia iniziava ad assolvere la sua funzione didattica: per poter insegnare architettura, pittura, scultura e ornato, la scuola si correda di gessi tratti da statue antiche per facilitare l’apprendimento degli studenti. I gessi braidensi assommano, oggi, diverse www.accademiadibrera.milano.it

centinaia tra statue e rilievi e si suddividono in due gruppi principali : quelli da esemplari antichi e quelli da sculture quattro-cinquecentesche. Le acquisizioni di gessi tratti da opere del Rinascimento si intensificarono nel corso dell'Ottocento; a ideale complemento si aggiunge infine la preziosa raccolta degli originali in gesso dei maggiori scultori lombardi del secolo scorso. Ma il patrimonio culturale dell’Accademia non si limita, oggi, alla raccolta di gessi ma comprende anche il materiale raccolto dall’archivio storico, dalla biblioteca, dal gabinetto dei disegni e delle stampe, dalla quadreria e dalla fototeca.Nel periodo napoleonico, l’Accademia conosce un momento di straordinario vigore vedendo finalmente istituita una propria Biblioteca e la propria Pinacoteca; anche le tendenze artistiche vengono modificandosi e il gusto neoclassico si orienta progressivamente verso l'antica Grecia con la tendenza ad un graduale aumento dell'enfasi retorica fino al culmine rappresentato dallo Stile Impero. Ma, come noto, gli scenari politici cambiano rapidamente: la Repubblica italiana diventa ben presto Regno d’Italia, Napoleone è diventato Imperatore e le istanze democratiche e giacobine sono ormai apertamente condannate; malgrado lo statuto, anche Brera deve adeguarsi al nuovo andamento delle cose e accettare un presidente dotato di piena autorità. Gli anni seguenti dell'Accademia vedono spegnersi progressivamente l'impatto sulla città dell'istituzione scolastica, che tende a diventare sempre più un servizio didattico dove i giovani

non trovano una spinta vivace verso le innovazioni, bensì un freno accademico fino all'aperta opposizione tra scuola e correnti artistiche nuove che si registrerà con le avanguardie del Novecento. Oggi l’Accademia di Brera di Milano è un’istituzione pubblica di alta cultura con proprio ordinamento autonomo riconosciuta dalla Costituzione della Repubblica italiana. Sulla base del medesimo dettato costituzionale, l’istituzione garantisce la libertà di ricerca e di insegnamento, ed è dotata di autonomia didattica, organizzativa, finanziaria e contabile. Come dichiarato anche nel proprio statuto, in accordo con la sua vocazione originaria volta al “pubblico beneficio delle belle arti”, sua finalità primaria è la promozione e l’organizzazione della ricerca nel settore delle arti visive, delle discipline dello spettacolo, della valorizzazione e della conservazione del patrimonio artistico, della comunicazione multimediale e della formazione attraverso le arti. Nel rispetto della sua storia, favorisce l’affermazione di una propria identità legata alla vicenda artistica di Milano, attraverso la conoscenza del suo patrimonio storico/artistico e la collaborazione con le istituzioni culturali pubbliche e private della città. L’Accademia concorre, quindi, allo sviluppo della cultura, della produzione e della ricerca artistica libera e avanzata, assicura e coordina lo svolgimento dell’attività didattica in funzione Focus on Italy

Art & Culture - Accademia

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della preparazione culturale e formazione professionale degli studenti. Le Accademie rappresentano i contenitori delle più moderne tipologie formative – afferma il Direttore dell’Accademia, il prof. Fernando De Filippi nel suo messaggio del direttore - i luoghi in cui la testa e le mani lavorano insieme, dove coesistono la teoria e la prassi. Una scuola – prosegue De Filippi - attenta ai problemi più avanzati e ai nuovi paradigmi della creatività e della comunicazione in grado di proporre, attraver-

Brera favorisce l’affermazione di una propria identità legata alla vicenda artistica di Milano

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so lo studio delle nuove tendenze della creazione, dell'applicazione delle immagini, della produzione, del mercato e degli stili, corsi originali e aggiornati, l’Accademia di Brera è tutto questo. Secondo l'attuale offerta formativa (MIUR) l’Accademia è compresa nel comparto universitario, nel settore dell'Alta Formazione Artistica e Musicale e rilascia diplomi accademici di 1° livello (equiparati alla laurea) e di 2° livello (equiparati alla laurea magistrale). In Italia è l'istituzione formativa con il più alto tasso di internazionalizzazione (superiore al 24%), accoglie circa 4.000 studenti di cui oltre 850 stranieri (in gran parte già laureati nei paesi di origine) provenienti da 49 nazioni, mantiene collegamenti e scambi di studenti e docenti, attraverso il Progetto Erasmus, con altrettanti paesi europei. Dal 2006 è stata invitata ad intrattenere rapporti con paesi extraeuropei come Giappone, Cina, Messico e Australia; l'attività didattica dell'ateneo è stata, inoltre, classificata dall'Unesco "A5" quanto l'Università Bocconi. Dal 2002 tutti gli studenti che vogliono accedere alla formazione accademica devono sostenere un test di ammissione che consiste nel superamento di una prova culturale e di prove tecnico-artistiche differenziate per indirizzo e un eventuale colloquio attitudinale. Possono iscriversi ai test di ammissione tutti coloro

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di Brera

che sono in possesso di un diploma di maturità di scuola secondaria superiore o equipollenti, compresi i diplomi di maturità artistica (Liceo Artistico) di prima e seconda sezione e i diplomi di Istituto d'Arte (5 anni). Per accedere al biennio specialistico è richiesto il titolo di Diploma Accademico di primo livello o Diploma Accademico Quadriennale (vecchio ordinamento) o lauree e diplomi universitari affini. L’Offerta formativa si limitava, inizialmente, ai 4 indirizzi tradizionali: Pittura, Scenografia, Scultura e Decorazione; con gli anni si è arricchita di numerosi percorsi disciplinari arrivando oggi a 11 corsi triennali di 1° livello, 19 corsi biennali di 2° livello, 1 perfezionamento e 3 master. Ha inoltre attivato 6 corsi biennali abilitanti all'insegnamento nelle scuole secondarie (COBASLID), nelle 6 classi di concorso che si riferiscono allo specifico delle arti visive. L’Accademia provvede a tutti i livelli di formazione superiore intesi alla preparazione ed alla specializzazione delle diverse figure professionali nell’ambito dell’arte, assicura la qualità e l'efficacia della propria attività di formazione garantendo una stretta connessione tra ricerca, insegnamento e produzione, infine favorisce ogni forma opportuna di informazione, di orientamento e di sostegno agli studenti. L’Accademia assume, inoltre, le opportune iniziative anche in collaborazione con altri enti, pubblici e privati, al fine di favorire la formazione e orientare l'inserimento nel mondo del lavoro dei propri diplomati e specializzati. Attraverso una didattica aggiornata, tecnico-operativa e teoricometodologica, l’Accademia di Brera è oggi in grado di offrire ai propri studenti una specifica e qualificata preparazione, strettamente legata ad una concreta conoscenza e ad un’altrettanta abilità pratica artistico-professionale; principi che portano l’Accademia ad essere riconosciuta oggi quale più alto livello d’istruzione artistico-visivo d’Italia.

A cura di Edm

• Immagini dell'Accademia di Brera

Italian excellence - Expo 20

15 by Mg

Milan and Expo 2015

How the city won the competition to host 2015’s International World exhibition.

BIE: history and purposes The BIE (Bureau International des Expositions, International Exhibitions Bureau) was established by an Inernational Convention in 1928 which set out simply rules restricting the number of exhibitions which could be held and definining their characteristics. From the earliest date, the BIE has accepted the need to differentiate between two categories of exhibitions: • International Registered Exhibitions (or World Exhibitions), major events which last for 6 months, have a theme of a general nature and are held every 5 years; • International Recognised Exhibitions, shorter and more economical events, that last for 3 months, have a more precise and specialised theme and are held during the interval between two International Registered Exhibitions. Since 1928 the BIE’s work has been dedicated to identifying and refining the role of those exhibitions within its concern as a mean of promoting international goodwill and of exploring the limits of human experience and knowledge.

Milan’s succesful bid

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At the end of October 2006, Milan won

Milan, and its surrounding territory boast a number of distinctive geographical, infrastructural, economic, social and cultural features that set it apart from other regions of Italy or Europe.

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over Turin the chance to be the Italian candidate for the 2015’s International World Exhibition, the so-called Expo. The city had already decided symbol (Leonardo da Vinci’s “Vitruvian Man”) and theme (“Feeding the Planet, Energy for Life”) of the fair. Toronto in Canada and Smyrna in Turkey were the two international rivals for the honour but shortly after Milan’s bid, the Canadian www.bie-paris.org www.milanoexpo-2015.com

city withdrew from the competition. On the 20th December 2006, Milan’s mayor, Letizia Moratti, submitted officially the city’s nomination against Smyrna at BIE’s headquarter in Paris. In the following months, mayor Moratti and Lombardy’s governor, Roberto Formigoni, travelled all over the world to introduce Milan and its project, in order to obtain more votes. In October 2007, BIE’s commissioners visited Milan and had a very positive impression of the city but a month later the Korean city of Yeosu won the competition to host the International Recognised Exhibition in 2012. This was important because Yeosu beated a Polish city, making apparently easier for another European city to win 2015’s challenge. On the other hand, however, it was rumored that Korea had a secret agreement with Turkey to help each other’s bids. BIE’s commissioners visited Milan for the second and last time in February 2008 and on 31 March 2008, with 86 votes against 65, Milan beated Smyrna and won the chance to host 2015’s Expo.

Why Milan Milan and Lombardy represent a fine example between labour, economic growth, human relations and nutrition. The city and its surrounding territory boast a number of distinctive geographical, infrastructural, economic, social and cultural features that set it apart from other regions of Italy or Europe. First of

• Visita della Commisione del BIE a Milano • The Milan Major Letizia Moratti Pictures by. G. Congiu

all, Milan stands in the centre of Europe’s fourth largest metropolitan conurbation, an area of 12,000 sq Km comprising the Lombardy provinces of Milan, Bergamo, Como, Lecco, Lodi, Monza and Brianza, Pavia, Varese plus Novara in Piedmont. As regards accomodations, the city and the neighbouring Provinces already possess a well structured supply in excess of 500,000 hotel beds, evenly distributed across all categories of quality and price. The existing transport infrastructure in the greater Milan area as a whole is modern, highly advanced and functional in relation to the existing volume of traffic. As it stands, this network would be capable of handling the extra load of millions of visitors expected to arrive from every part of Europe and the world for Expo Milano 2015. It is based on 5 fundamental cornerstones:

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Italian excellence - Expo 20

• The airport systems: 3 airports, Milan Malpensa (intercontinental hub), Milan Linate (city airport with national and European connections)), Bergamo Orio al Serio (specialised in charter and low cost flights), handle nowadays more than 36 million passengers a year and offer flights in all the available price bands. • The railways. At the intersection of two major European railway axes, the Lisbon-Kiev corridor V ant the RotterdamGenoa corridor, including the new High Speed/High Capacity lines, Milan has more than 100 train connections to Europe every day.The opening of the new Rho-Pero station linking the fair to Milan Central Station and the new Regional, Inter-regional and Suburban services will further strengthen the network. • Public transport. Buses, trolley buses, trams and underground trains currently offer 80 different routes (including the three metro lines) and carry more than 850.000 passengers daily for a total 9.5 milion journeys a year. • Roads and highways. Milan lies at the centre of Lombardy’s road network, which comprises 560 km of motorways, 900 km of state highways and around 11.000 km of provincial roads. The Expo site is already connected to the Milan-Turin (A4) motorway, the Autostrada dei Laghi (A8 and A9) and the Milan orbital motorway system • Intermodal logistics terminals. Besides the cargo services at the 3 airports which flew around 600.00 tons of goods in 2006, the Milan metropolitan area has several intermodal rail/road freight terminals. Close to the motorways and the Expo site, these terminals have rail links to the ports of Trieste and Genoa, the latter only 1 hour and15 minutes away. With 342.766 businesses operating in 2006 (representing more than 40 % of all firms in Lombardy and 6 % of Italian Companies), a GDP of over € 137 billion (around 10 % of national GDP), a GDP per capita of € 35.776 and an household purchasing power 23 % above the national average, the Province of Milan is the wealthiest and most economically developed region in Italy. Its economy

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150 no-profit organisations and more than 500 charities. Milan is also a distinctly cosmopolitan city with nearly 170.000 foreign residents (13 % of total population) from over 100 ethnic groups from every region of the world. With 98 consulates, Milan is, after New York, the non capital-city with the highest density of consular representation in the world. The city’s attention to integrate different ethnic groups is seen in the various policy measures taken in recent years to facilitate:

has always traditionally been open to innovation and international competition: in 2005 Milan accounted for 13% of Italy’s exports, 24 % of imports and the Province attracted 41,7 % of all Foreign Direct Investment (FDI) to Italy. As well as occupying a leadership position in strategic industries (telecommunications and energy), financial services (consulting and brokerage) and the creative sectors (fashion, publishing, media, design), Milan is also Italy’s second agricultural producer contributing 22 % of all italian food exports. Through the Fiera group, Milan can rely on an internationally recognised platform of skills and experience in the organisation and management of exhibition and fairground space, as well as engineering and contracting for large public works. The company controls one of the biggest and most advanced trade fair organisations in the world: with facilities covering a total 520.000 sqm at two sites – the new Rho-Pero Complex (405.000 sqm with 20.000 parking places) and Fiera Milano City (115.000 sqm) – Fiera Milano broke the record in 2004 for volume of exhibtion space sold in Europe . Milan can safely claim to be Italy’s biggest centre for voluntary work. It is home to the National Agency of Voluntary work which represents more than 400 organisations employing 70.000 volunteers, 31 NGO’s working in international co-operation on development,

• The Dome • The "La Scala" theater Pictures by. G. Congiu

• introduction of foreign-born children in the schools system; • access to social services, healthcare and education; • assignment of social housing; • integration, with the creation of 5 reception centres with capacity of around 600 people/year. Last but not least, Milan has 38 theatres, with more than 14.000 seats, including the celebrated Teatro alla Scala and more than 30 museums, including Da Vinci’s Last supper, the National Museum of Science and Technology and the Triennale, one of the most influential exhibition centres of architecture, urban planning, decorative arts, deign,crafts, manufacturing, fashion and audio-visual communcations.

by Mg

Feeding the Planet, Energy for Life Main themes of 2015’s Expo.

The right to a healthy, safe, sufficient and balanced diet and the access to water for all human beings is one of the biggest political and economic challenges the world faces for the coming years. The genuine quality and availability of agricultural foodstuffs is one of the society’s fundamental needs,. Territory plays a central role here becuase of the farming and livestock raising traditions of local people and communities are part of genuine, high quality food. Today these traditions benefit from the wise applica-

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tion of scientific and technological innovations. The theme for Expo Milano 2015, “Feeding the Planet, Energy for Life” was chosen to focus attention on

The event will be an extraordinary universal occasion to display tradition, creativity and innovation in the business of food

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developing effective sustainable solutions to the complex and pressing issues that surround human nutrition, both in terms of food safety (healthy food and clean water) and food security (a sufficient and easily accessibile supply of food and water for everyone on the planet). The event will be an extraordinary universal occasion to display tradition, creativity and innovation in the business of food. It will bring together many themes, that have already been handled by this kind of events in the past, and set them out anew in light of new global

possibilities, whose common core is the idea that everyone on the planet should have access to food that is healthy, safe and sufficient. The overarching theme of the exposition (food safety, security, and quality for sustainable development of the planet based on the worth of the individual) comprises a number of subthemes of universal interest: • Science for food safety, security and quality. The Expo offers an opportunity for the international scientific community to meet, exchange views and findings and consider the latest innovations for safeguarding consumer health. • Innovation in the food supply chain. Expo 2015 acknowledges the crucial role played by innovation throughout the food supply chain, affording added value at every stage in terms of productivity and the preservation of the natural quality, flavour and nutritional value of food. • Technology for agriculture and biodiversity. The Expo promotes and supports the most advanced techniques for improving farm production while protecting biodiversity. The value of the many regional and native varieties will best be brought to recognition through the synergetic work of farmers and scientist. • Dietary education. Teaching people how to feed themselves properly and to choose the foods best suited to their need and way of life is a fundamental element of personal health education. One of the aims of Expo 2015 is to urge educators, households and institutionsto

• Castello Sforzesco • Logotype Expo 2015 Pictures by. G. Congiu

discover new teaching methods for broad-based food education. • Solidarity and co-operation on food. The Expo will provide an opportunity for debate around co-operation and support for development in the southern emisphere: 70 % of the population of these regions live in rural areas, where agriculture either feeds people directly or is the main source of income. But small producers often face many obstacles outside their control: lack of access to credit. insecurity of land tenure, lack of transports, low prices for their goods and undeveloped trading connections with the agro-foods industry. • Food for better lifestyles. The Expo acknowledges food’s fundamental role in the quality of life, not only for the physical and mental well-being of the individual, but also as an occasion for socialising. • Food in the world’s cultures and ethnic groups. Each person’s culinary history, shaped by taste, ethnicity and culture, is an important element of their peronal identity. The Expo will propose a voyage of discovery into culinary cultures. Expo 2015 offers a great communication and promotion venue for primary producing communities, farmers, food firms, the logistic and distribution sector, the restaurant and catering industry, research centres and any company aiming to make the most of innovation and production technologies that generate a healthy food product. Focus on Italy

www.milanoexpo-2015.com

Italian excellence - Expo 20

by Mg

What is next

Figures, plans, investments and business’ opportunities of Expo 2015.

Expo 2015 will take place from the 1st May to 31 October 2015. A budget of 14 billions € has already been allocated to build infrastructures for the event: € 3,2 billions are set aside for specific infrastrucures and 11,4 for a series of works to be completed prior to 2015 involving new Metro lines, roads, motorways and railways links to further strenghten the accessibility of the area. A further € 0.9 billion is planned to be spent for organisation and management. All this expenses will be financed by both public and private funding: it is already known that 46 % of the money needed for the specific infrastructures will come from the State, 26 % from local institutions and 28 % is expected to come from private investors. The event will bring economic benefits worth an estimate € 44 billions and create around 70.000 new jobs in the Milan area over the several years of preparation. During the 6 months of Expo, are expected 29 Millions of visitors: half from Northern Italy and the rest from Southern Italy. Europe and the other continents. Besides that, 13,5 millions of Italians have already confirmed in a survey their interest in visiting the Expo, for its universal value and nature. The sponsor firms will take advantage of a 7 years’exclusive for the strengthening of marketing’s strategies. More specifically, sponsors’ rigths are: • Exclusive merchandising rights, which guarantee the opportunity of reinforcing communication appealing to a strategic asset; • Events’ organization and patronage both during the 7 years of preparation and during the 6 months of Expo; • Use of Expo’s brands, trademarks and symbols, in external relations’ and accomodation’s activities; • Advantages in accessing and using Expo’s areas and spaces, that vary on the basis of sponsorship’s type and investment’s level. Potential partners will be identified through different criteria. Among them,

the most important is surely the sponsor’ activity’s consistency with Expo’s theme, which can be: • direct, for firms operating in the following sectors: food and beverage, supermarkets and department stores, chemistry, pharmaceutical and health care, education, food packaging, wellness and fitness,, fuels, tourism, transport and logistics, institutional organizations, cooperatives, agricultural machineries, waste handling. • acquired, for companies active in these fields: infrastructures,

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Focus on Italy

Besides the possibility for private investors to finance Expo’s specific infrastructures, there are other great opportunities of business for them, first of all in goods and services’ supply but above all in sponsorship

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constructions, IT and telecommunications, energy and utilities, media and publishing, entertainment, banks and insurances, security, illuminating engineering.

• Letizia Moratti • Angelo Paris, Managing Director Expo 2015 Pictures by. G. Congiu

There are also partnership possibilities for firms, whose activity has a technical affinity with the Expo’s organization. To be considered, they must operate in these businesses: fairs and congress centres, airlines and airport services, railways, post and shipping services, ticket office management, road networks systems, exhibition stand assembly services, car rentals. The difference between the different kinds of sponsors is based on the type and amount of contributions given by the firm: the higher and more sophisticated they are, the more rights the sponsor will have.

Since Expo Milan 2015 is a set of initiatives and projects conceived to respond to humanity’s needs, sponsoring this event offers a broad range of new opportunities in the following areas: • communication, with effective and distinguishing strategies through vari ous channels, • networking: development of key relationships, in leading sectors of research and institutions; • promotion: chance to promote for 7 years a firm’s own business; • projects: involvement in project, all over the world.

by Interview with Arch. Nic Bewick By Pb

Talking with Arch Nic Bewick In anticipation of Expo 2015, Milan will face a lot of changes: the architect Nic Bewick gives us his opinion. From the urban point of view,how Milan’s landscape will be modified in anticipation of Expo 2015? Undoubtedly Milan has been stagnating in comparison with other European cities as regards its recent architectural and urban development. And although the city skyline will be substantially changed with a variety of, in my opinion, rather un-adventurous or un-appropriate towers, which are mostly driven by speculation rather than a cohesive vision, it is still not clear what will really be achieved in anticipation of EXPO. Personally I would like to see the city re-build its Milanese personality with a mix of culturally and socially innovative (smaller and more beautiful) projects that would help engage the cities citizens and set the scene for EXPO.

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From a technical point of view, which, will be, in your opinion, the biggest benefits that Milan will obtain from Expo 2015? Obviously one of the key drivers behind the successful bid to host EXPO was Milan’s extensive idea to develop a new infrastructure program as part of the integration of the event and the future evolution of the city. Lets hope this comes to fruition because Milan needs to resolve these basic problems if wants to succeed as a functioning, progressive

but I personally believe that there are architects who are really engaged in a process of multidisciplinary collaboration that seeks to build progressive and responsible solutions for our rapidly changing global environment and social needs.

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urban centre that can compete within Europe, attracting long term investment and forward thinking businesses. Unfortunately many of the cities projects, which after years of hesitation and political turmoil are now being realized are not aligned with the EXPO theme and the opportunity it presents. There is a

international program developed by the World Economic Forum called ‘Slim Cities’ based on creating a comprehensive approach to sustainable urban development, I would like to see Milan attaining global recognition in this initiative. Its not too late so I hope this can drive the EXPO planning to create real long term benefits for the city and its people. On the basis of the several projects presented till now, which are the biggest architectural changes that the city will face with a view to the Expo? If the EXPO planners can really create an effective but inspiring link between the city centre and the EXPO site this will have a major impact on changing the whole urban context of Milan. The idea of the waterway which echoes the creativity and capabilities of Leonardo’s influence on Milan would be a fantastic project. In the same way the city of London has reclaimed its riverside as an articulated and pedestrian thoroughfare it would be great to see Milan achieve such a major architectural intervention. I also think the ‘green’ ring, a continuous circle of parks and open space around the city centre would be a very positive project that would help guide future development. On another level however, if one talks about architectural change for the city I also think we have to talk about the non-physical aspects. I hope that EXPO can also help modify the whole planning, permissions, project management and procurement process that is presently so pedantic and polemical. Italy’s industrial and productive creativity is famous across the world lets hope EXPO can exploit this to change Milan. One of the aims of Expo 2015 is to draw attention on ecological themes. What does it mean for an architect to match his own creativity with this kind of need? EXPO is not only founded on ecological and sustainable issues but seeks to explore and focus on one of our most universally profound problems – Feeding the World - If one considers that global food production has increased 145% in the last 40 years yet 800 mil-

lion people in the world go hungry, we all have a huge obligation to improve this situation. Architects are often seen as creators of physical structures which play to their own and their clients egos, but I personally believe that there are architects who are really engaged in a process of multidisciplinary collaboration that seeks to build progressive and responsible solutions for our rapidly changing global environment and social

• Arch. Nic Bewick

needs. In this sense I think we are in a unique position to guide, bridge and connect the sciences, the engineers, the arts and the artisans to create something that can environmentally and ecologically benefit us all. Among all the projects presented, which one is the most ambitious, in your opinion? I don’t think that Milan’s EXPO can be focussed on one particular project. Instead it has to explore a range of ideas and solutions that can all participate in improving how we provide safe and healthy food for the worlds populations. However apart from this global ambition and as an adopted citizen of Milan I really hope that EXPO can re-launch the city as a centre of creative and sustainable thinking, putting aside many of recent shortcomings and making it one of the best places to live and work in Europe.

Focus on Italy www.studioandpartners.com

Italian excellence - Expo 20

Milano punta al “meglio” verso Expo 2015

E’ la città della moda e della cultura, attira da sempre moltissimi stranieri attratti dalle sue molteplici peculiarit: ma oggi Milano sta invecchiando e necessita di cambiamenti immediati; è questo quanto emerso dalla diciottesima edizione Dell’ “Osservatorio della qualità della vita a Milano”. Milano è una città in cui si vive bene, lo dice la gente che ci vive e lo dimostrano le statistiche; ciò non toglie che servano dei cambiamenti, e che Milano stia “invecchiando”e stia diventando sempre più una città poco attrattiva per i giovani. Lo scorso 19 novembre, presso la Sala Convegni dell’Automobile Club di Milano, si è svolta la diciottesima edizione dell’“Osservatorio della qualità della vita a Milano”, ed è proprio in questa sede che sono stati presentati tutta una serie di dati che quantificano l’attuale situazione del capoluogo lombardo. Marco Bono, Pres. dell’Associazione MeglioMilano, ha aperto i lavori annunciando che nel 2007 l’indicatore generale della qualità della vita a Milano è migliorato, ciò non toglie, che la città e i suoi cittadini sentono comunque una forte esigenza di cambiamento; sempre più Milano è una realtà popolata per la maggior parte da anziani over 65. Immediate conseguenze di ciò sono un aumento della spesa per l’assistenza sociale e una diminuzione del reddito medio della famiglia milanese. La vittoria di Milano a Expo 2015 è la spinta che Milano aspettava da tempo per dare vita a tutta una serie di cambiamenti nell’ambito della quotidianità e per migliorare tutti quegli aspetti che il cittadino ritiene importanti per la crescita qualitativa della sua vita. Ha proseguito la presentazione il dr. Giovanni Verga, Assessore alla Casa del Comune di Milano, il quale, pur ribadendo il concetto che Milano è in un trend in crescita positiva, ha posto l’accento sul fatto che vi sono città che vanno meglio e da cui è bene prendere esempio. Verga ha continuato dicendo che i grossi miglioramenti all’interno delle città sono da sempre legati a eventi particolari che fungono da spinta: Expo 2015 dovrebbe essere per Milano un evento qualitativo, “un’occasione in cui il “bene” e il “bello” crescono insieme”. E’ poi intervenuto del dr. Roberto Camagni, Presidente del Comitato Tec-

nico MeglioMilano. Negli ultimi anni vi è stato un ritorno di attenzione culturale e politica alla città, al suo ruolo, ai modelli per governarne la sua sempre crescente complessità. Le città sono il motore del progresso sociale ed è dunque molto importante che tra di esse vi sia interconnessione a tutti i livelli: architettonico, sociale e politico. La stessa Unione Europea, dopo un lungo periodo di stallo ha rilanciato il tema dello sviluppo urbano, evidenziando il fatto che la qualità dello spazio pubblico, del paesaggio culturale urbano e dell’architettura, giocano un ruolo importante nelle

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Focus on Italy

Nel 2007 l’indicatore generale della qualità della vita a Milano è migliorato.

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condizioni di vita dei cittadini. “ tutti i livelli di governo – locali, regionali, nazionale, europei – hanno dunque una specifica responsabilità nei confronti del futuro delle nostre città”. I problemi che la città di Milano si trova oggi a dover affrontare nascono dunque spesso da scelte errate delle istituzioni nazionali e internazionali fatte sulla base di una visione più ampia dello sviluppo urbano. Se si confronta Milano con il resto d’Europa, ci si accorge che i retaggi negativi che la caratterizzano da anni sembrano non essere cambiati; negli anni ’80 Milano era la capitale dell’Europa meridionale, oggi Milano è al tredicesimo posto ed è stata superata da città medio – piccole come Zurigo o Dusseldorf. A seguito di questa breve premessa, sono stati esposti da Camagni i risultati della diciottesima indagine sulla Qualità della Vita a Milano. L’indicatore generale indica che anche nel 2007 Milano è stata una città in crescita, il contesto medio della qualità della vita è migliorato, ma non ugualmente ed equamente da tutti i punti di analisi.

Ad oggi vi è un po’ di preoccupazione per il settore economico, le aree della salute e dell’ambiente necessitano di soluzioni sistemiche per migliorare e, molto importante per il futuro miglioramento urbano, è lo sviluppo della così detta politica delle localizzazioni: bisogna costruire la dove arriva il trasporto di massa, è passato il tempo per localizzazioni casuali. Don Giancarlo Quadri, Responsabile dell’Ufficio per la Pastorale dei Migranti dell’Arcidiocesi di Milano, ha analizzato la Milano multi-culturale, una città in cui oggi non è possibile parlare di sviluppo senza tener conto degli immigrati considerandoli cittadini milanesi a tutti gli effetti. Rapportandola al resto D’Europa sono molte le città che hanno superato Milano in termini di servizi di accoglienza, e il capoluogo lombardo, pur avendo una forte aspirazione ad essere una città cosmopolita, continua tuttora a mantenere un atteggiamento molto chiuso e locale verso lo straniero. Sandro Lecca, Segretario generale di Meglio Milano, ha presentato il Primo Quaderno dell’Osservatorio della Qualità della Vita che offre una lettura dettagliata di quella che è stata l’evoluzione di Milano negli anni tra il 1989 e il 2006. Realizzata dalla dr.ssa Monica Bernardi, la ricerca, che è il frutto di un’attenta analisi dei dati rilevati in questi anni dall’Osservatorio, ha fatto emergere come nel tempo, seppur in momenti diversi, le quattro macroaree di analisi (economia, qualità urbana, qualità civile, qualità sociale), siano tutte migliorate. L’unica che non ha mai avuto un incremento netto e costante è la qualità urbana, ciò mette in luce una forte dicotomia tra il benessere economico ed il contesto fisico e fa pensare alla direzione di sviluppo intrapresa da Milano. Salvatore Carrubba, Direttore Strategia Editoriale del Sole 24 Ore, e penultimo interlocutore della mattinata, ha ripreso brevemente le tematiche trattate nel corso della presentazione. La problematica di Milano rimane

A cura di Mg

• Da sinistra in senso orario, Milano, nei pressi delle Stazione centrale, Piazza Cordusio, tre immagini della zona dei Navigli. Foto di G. Congiu

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Expo 2015 l’occasione che Milano aspettava per dare inizio a nuove politiche di miglioramento delle qualità di vita

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sempre la stessa: la città ha perso e continua a perdere la sua competitività. Sono sempre meno le persone di età giovanile che scelgono di viverci e sempre di più le persone di una certa età che al contrario decidono di stabilirsi a Milano; conseguenza diretta di ciò: la città si sta inaridendo, va ripopolata. Expo 2015 è l’opportunità ideale per riqualificarne la posizione. Giuseppe Sgorbati, Direttore Dipartimento Provinciale di ARPA, esperto nello studio dell’ambiente, ha concluso i lavori della mattinata. Sgorbati,

i cui studi e i cui interessi prendono spunto da un punto di vista ambientalista, ha sottolineato che tornare ad essere attrattiva per Milano, significa poter godere non solo di benefici culturali ed economici, ma anche e soprattutto ambientali. Gli interventi sul territorio si caratterizzano per avere tempi di reazione molto lunghi, ma da sempre risultano essere una sicura fonte di benessere per la città e per chi la vive. MeglioMilano da vent’anni si occupa con cura di arricchire la città da molteplici punti di vista. Expo 2015 è il traguardo raggiunto da Milano dopo un importante percorso di crescita e l’occasione che aspettava per dare inizio a nuove politiche di miglioramento delle qualità di vita che i cittadini aspettano da tempo e di cui ha fortemente bisogno.

MeglioMilano e' un'associazione senza fini di lucro fondata nel 1988 con lo scopo di predisporre progetti e sperimentazioni che portino al miglioramento della "qualità della vita", sia del contesto urbano complessivo, sia di aree specifiche. L’associazione ha una duplice modalità di intervento: da una parte si occupa dell’elaborazione progettuale; dall'altra realizza buona parte delle proposte, al fine di valutarne gli effetti e, nel caso serva, per apportare eventuali modifiche. Come presupposto delle attività e scopo progettuale vi è la convinzione che i comportamenti individuali e collettivi possano essere modificati se intesi a beneficio della collettività. Coinvolgento i cittadini e le imprese, creando e salvaguardando servizi che rispondano alle mutevoli esigenze sociali, promuovendo adeguate campagne di informazione, MeglioMilano aiuta che la città a crescere nella “migliore” direzione. Focus on Italy

www.meglio.milano.it

Italian excellence - Expo 20

Interview with Franco Bodrato, Chairman Paolo Soldateschi, CEO By Pb

Lanterna, a very delicious sponsor for EXPO A good example of a medium-sized Italian company, on the same wavelength as the theme and the meaning of Expo 2015. What is Lanterna? The history and development of the company. Lanterna Alimentari Genova was founded in 1996 by the current chairman, Franco Bodrato, the descendant of an old Genoa family of bakers, who had the idea of introducing the traditional Genoese “focaccia” to customers living beyond the borders of Liguria, preserving the quality, taste and mouth-watering freshly-baked flavour of the original product. This is how the “la fügassa della Lanterna” brand was born, a tribute to the two symbols of Genoa, the “focaccia” (“fü-

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Focaccia is the most popular Genoese specialty: it is made of flour, water, olive oil, yeast and salt

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gassa” in the local language) and the lighthouse, called “Lanterna”. Focaccia is the most popular Genoese specialty: it is made of flour, water, olive oil, yeast and salt and it comes in many variations, flavoured by vegetables and aromatic herbs, rosemary, olives, onions, cherry tomatoes, aubergines or cheese. Our focaccia is part-baked and frozen, ready to be baked in just a few minutes. Our production plant, completed in 2002, is located in Genoa and has a production capacity of 4,600 tons a year; this is predicted to double over the next three years. Our clients operate in the large retailing and catering sectors, in Italy and abroad. We export our products to France, Spain, Austria, Benelux, Great Britain, Ireland, Scandinavia, Poland, Russia and Japan. Bearing in mind that Lanterna is already active in several foreign countries, what are its expectations for Expo 2015, both in terms of business and visibility ? We have agreed to sponsoring Expo 2015 because we believe it will be an outstanding international event and because we are involved especially in the Expo’s theme: “Feeding the planet, energy for life”. We produce a typical

Focus on Italy

food specialty, the Genoese focaccia, and we carry on the Italian food tradition, but at the same time we strongly focus on quality, on innovation, on internationalization. We believe we can be a good example of a medium-sized Italian company, on the same wavelength as the theme and the meaning of Expo 2015. Since there are different sponsorship categories and various types of events, what does being the official sponsor of Expo actually mean? As a sponsor, we have been involved so far in two different kinds of events: The first one took place last July in Saragoza, Spain, where we were the official sponsor of the concert offered to Expo 2008 by the Milan Expo 2015 Committee and performed by the Chamber Orchestra of Teatro alla Scala. The second event was the International Food Summit, organized last October in Milan by the Expo 2015 Committee: we took part in the event for children and families called “PlayFood” and we offered lunch for about 600 people with our focaccia. We are willing to participate in every sponsoring proposal, supplying from financial contribution to products. Considering your strong link with tradition and the aims of Expo, to which themes do you feel closer and which are the most interesting for you? The first themes we feel closer to are food quality and safety, which have always been our number one commitment towards our consumers. Our Quality and Environment System has been awarded with certification for European standards ISO 9001 and ISO 14001 and with BRC (British Retail Consortium) and IFS (International Food Standard) quality certification. Stringent controls on both raw materials and finished products ensure that each product is fully traceable and enable us to assure top quality for our consumers. Two other Expo themes are key words for our company: tradition and innovation. The experience of master bakers

• Traditional focaccias • P. Soldateschi and F. Bodrato

combined with state-of-the-art technology and the respect of traditional recipes together with constant research are our guiding lights. With regard to this, we find the sub-theme called “Food for better life styles” particularly interesting. Every day we deal with new consumer trends and needs, due to health problems or cultural and religious beliefs. To meet these new consumer demands, we have recently introduced an outstanding innovation: we have totally removed the little amount of lard which was contained in a few products and now the only fat in all our focaccias is extra virgin olive oil. This makes our focaccia suitable for people who follow a low-cholesterol diet, for vegetarians and for people who, according to their religious beliefs, do not eat animal fats like lard. www.lanternagenova.com

Hotels - Relais & Châteaux Interview with Julia Jeffers By Pb

Relais & Châteaux: The road of happiness

Main features which make Relais & Châteaux hotels so famous, special and unique among other hotels around the world.

How and when was your company born? The Relais & Châteaux story began in 1954 when 8 hoteliers located on the highway National 7 between Paris and Nice joined forces to attract additional attention to their individual properties. They felt the need to offer the possibility to their guests to find similar services and art of welcoming. They had in common their comfort, calm, décor, warm welcome and fine dining. The slogan chosen still sums up Relais & Châteaux today: La Route du Bonheur or The Road to Happiness!

Why would someone choose one of your hotels? Relais & Châteaux is more than simply a hotel or a restaurant, it is an overall experience and those who get to know our properties become faithful customers, we can say that 60% of our clients are repeat guests and become, in time, more and more our friends. Our high quality standards are guaranteed also by 9 inspectors that travel from Relais & Châteaux to Relais & Châteaux as anonymous guests (each of our property is visited at least once every three years).

What kind of features let Relais & Châ- • Julia Jeffers, R&C Italy Director teaux hotels be so famous around the world? an extraordinary welcome in unique Relais & Châteaux is an association of place all around the world. Relais & the finest individual hotels and restau- Châteaux encompasses manor houses, rants all around the world, collecting chateaux, bastides, former coaching 480 properties in 56 countries. Each inns, chalets, country inns and lodges. and everyone of them has its own per- These different locations with unique sonality and expresses typical features characteristics all subscribe to the « of its location: they all blend perfectly fine art of receiving guests well » and into their surroundings and respect to offering outstanding services. their special place on earth, their terroir. Starting points which have now What kind of facilities and services do developed further are the so-called you offer to your customers? 5C: Charme, Character, Courtesy, Relais & Châteaux puts a particuCalm and Cuisine. For more than 50 lar accent on fine dining, therefore years, the 5Cs have been at the heart all properties offer fine cuisine. The of the Relais & Châteaux quality char- Chefs in our properties are all driven ter. For all our properties, this charter by their passion for and dedication to will forever represent our standard of outstanding cuisine. Some of them go excellence and serve as a benchmark even a step further and distinguish for our guests’ expectations. Today themselves by creating an even more these simple principles have evolved unique culinary experience. We refer into profound to them as “Grands “ Each Relais & Châteaux Chefs Relais & values our members share and Châteaux”: there has its own identity, enhance. Through are 160 of them history and passion for its members and in 22 countries. the art of hospitality. ” their teams, Relais Other facilities & Châteaux aswhich can often pires to 5 ideals that capture our be found in our properties are spas. shared commitment to our guests: Fel- Each one offers unusual or innovative, lowship, Personal Generosity, Sense relaxing or stimulating treatments. In of Place, Harmony and Being. Each any case these havens of wellbeing Relais & Châteaux has its own iden- have one thing in common: personaltity, history and passion for the art of ized wellness treatments in super surhospitality, which allows to receive roundings.

In which way is your offer different from the other ones? The Relais & Châteaux family has values that are deeply rooted within the owners of our properties. These ideals (Fellowship, Personal Generosity, Sense of Place, Harmony and Being) are strongly distinctive features for our association. Our offices around the world will be happy to help guests to build their own personal “Route du Bonheur” in all our destinations and to propose the theme stays (fine dining, spa and beauty, golf, culture…). Moreover they are at complete disposal for any information and for the purchase of Gift Certificates and Forfait Lys. They are the Relais & Châteaux gifts’ proposals: the Gift Certificates are available in amounts starting from 100 Euro (UK: 100 £), can be accumulated, valid for two years and can be used like cash in all our properties all around the world (or combined with other offers). Finally, Relais & Châteaux has a range of Forfait Lys, customized stays or lunches/dinner for two persons, proposed in more than 300 properties and valid for 2 years. A particular note to the Relais & Châteaux guide: every year 1.000.000 copies of the Relais & Châteaux guide are printed in a total of six languages (French, English, Italian, German, Spanish and Japanese).

www.relaischateaux.com

Focus on Italy

by Ob

Hotels - Relais & Châteaux - Uk

Amberley Castle

A visit or stay at Amberley Castle, the finest of luxury hotels in West Sussex, is like stepping back in time, yet all the modern day luxuries are always available.

• Dower house exterior • SpA reception • Lord Nelson' room • SpA interior

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Few hotels, if any, can boast a history as long and romantic as Amberley Castle. Set in many acres of stunning gardens, deep in the heart of the West Sussex countryside, nestles a picturesque fourteenth century quadrangu-

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An older manor house in its own magical world of peace and tranquillity.

lar enclosure fortress, complete with sixty feet high medieval walls. Passing through the mighty twin-towered gatehouse and beneath the portcullis, you discover an even older manor house in its own magical world of peace and tranquillity. In 1103, Bishop Luffa built a timberframed open hall on the site. This was fortified in the turbulent fourteenth century with crenellations, battlements and a mighty gatehouse. Henry VIII is

Focus on Italy

reputed to have visited the castle to consult Bishop Sherbourne over his first divorce, shortly before seizing the church estates. The Castle then passed to his daughter, the Virgin Queen, Elizabeth I. With such a rich history this hotel cannot be anything but remarkable – how can one not feel special treading in the footsteps of so many great characters from the past? But this is not merely a romantic ruin rich in ancient memories. The restoration has been so sensitively conducted, with period furnishings, suits of armour and carefully collected antiques, you feel like a treasured guest in a warm and welcoming family home. The historical character has been perfectly preserved, and yet you enjoy all the modern creature comforts that one has come to expect. Given the flair and imagination that has been lavished on this amazing property, it’s no wonder it has been garlanded with a host of awards.

Vip Treatment We are happy to offer for any reader who stays with us a warm welcome with a bottle of English Bloomsbury Sparkling wine on arrival with our compliments. (this offer is available on full rack rates only)

Amberley Castle Amberley BN18 9LT Arundel (West Sussex) United Kingdom T: : + 44 (0)1798 831 992 F: + 44 (0)1798 831 998 E: amberley@relaischateaux.com

www.amberleycastle.co.uk

Hotels - Relais & Châteaux - Uk by Ob

Inverlochy Castle

From a grand 19th century house to the finest of 21st century country house hotels. With the beauty of its setting, its imposing style and Victorian grandeur Inverlochy Castle is a timeless scenery.

Situated in one of the most beautiful construction of the new Inverlochy places in the world, the Highlands Castle in 1863. In September 1873 durof Scotland, the Inverlochy Castle is ing a trip to Balmoral, Queen Victoria renowned as being the finest coun- spent a week at Inverlochy sketching try house hotel in Scotland. Amidst and painting where she wrote in her stunning scenery of glens, lochs and diaries 'I never saw a lovelier or more mountains of the West Highlands of romantic spot'. Inverlochy had been Scotland, Inverlochy Castle offers to a private residence for over a hunits guests a relaxdred years until “ Inverlochy Castle is a 1969 when it was ing as well as an converted from exciting atmosplace where history, a family home to phere. The beaunature and luxury come Scotland's finest ty and tranquillity together ” of the Castle's setcountry house hotel. The hotel ting is remarkable and, in keeping with the grandeur of regularly attracts distinguished guests. its surroundings, the Castle itself is a Charlie Chaplin was the castle's first very fine building, wonderfully crafted celebrity guest and since then the hoand richly decorated. The word 'Inver' tel has played host to a long list of is derived from the Gaelic for 'conflu- well known people, including Robert ence' or 'at the mouth of' and, on the Redford, Sean Connery, Elton John, south bank of the River Lochy, near Barbara Cartland, Anthony Hopkins to where the river enters Loch Linnhe, and Mel Gibson. There is a long and stands the aptly named and crumbling manifold list of possible activities at ruin of Old Inverlochy Castle. The first Inverlochy Castle, for example white Lord Abinger, near the site of the orig- water rafting, mountain biking, off inal 13th century fortress, began the road driving, horse riding & trekking

www.inverlochycastlehotel.com

• A bedroom • Exterior of the castle • Fine dinning

or clay pigeon shooting. Inverlochy Castle is a place where history, nature and luxury come together. A lot of national and international awards (e.g. Travel and Leisure “Best hotel in Europe” in 2006) attest the superiority of this high-class hotel.

Inverlochy Castle Torlundy-Fort William Scotland PH33 6SN United Kingdom T: + 44 (0)1397 702177 F: + 44 (0)1397 702953 E: inverlochy@relaischateaux.com

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by Ob

Hotels - Relais & Châteaux - Ita

L’Albereta

Only a few places in the world can offer the landscape and natural variety of Franciacorta, in Lombardy, and only a few houses can boast the tradition of the R&C L’Albereta.

• Cabriolet room • Swimingpool • Garden • Girl in the SpA • Overwiev of Leone vineyard

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The Franciacorta region is a gently undulating area leading down to the river Oglio. It is about 20 kilometres from Brescia and Bergamo and 60 Kilometres from Milan, with a mild climate, perfect for a relaxing holiday. The Relais

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The father of the modern italian cuisine.

& Châteaux L’Albereta lies at the top of Bellavista hill. It was converted from a 19th century villa into an enchanting hotel by the Moretti family and opened in 1993. Its park, the vineyards, lake Iseo and the Alps all contribute to the unique view that gives its name to the hill. Bellavista is also the name of the winery producing « Franciacorta » sparkling wines. On the 11th of november 2008, L’Albereta has received the Condé Nast Johansens Award 2009 for the Most Outstanding Service in the area

Focus on Italy

of Europe and Mediterranean. Indeed, the SPA Guide 2008 supplement to the October issue of Tatler has indicated its SPA among the 101 best spas in the world, while the Sunday Times Travel Magazine of November has awarded L’Albereta as one of the 100 best hotels in the world. L’Albereta consists of five buildings: the original villa with the Bellavista Tower, the new Lake View Tower (built late 2001), the farmhouse with its portico, the Contadi Castaldi Tower and the adjoining Casa Leone. L’Albereta opened in March 2003 an ultra – modern regenerative Spa. A diverse menu of treatments will be available, ranging from homeo – puncture to micro circulation therapy. Moreover the hotel is the ideal establishment to accomodate seminars and receptions in four different areas. The Sala Scacchi, the Library Bar and the Sala Lettura for accomodating from 4 to 30 persons, and the Sala delle Feste, a large hall with private entrance and separate bar

and restaurant. It is designed for meetings and big parties up to 200 people. After the meeting, guests may enjoy the haute cuisine of the Chef, Gualtiero Marchesi, the father of the modern italian cuisine. The wineries of Bellavista and Contadi Castaldi are also at their disposal for guided visits, wine tasting, oenology seminars and lectures delivered by professionals.

Vip Treatment

• Free upgrade • VIP Welcome (Bellavista sparkling wine & fruits) • 1 complimentary beauty treatment at Espace Vitalité Henri Chenot (on reservation for each person) L’Albereta Via Vittorio Emanuele II n° 23 I-25030 Erbusco (BS) Italy T: + 39 030 77605 50 F: + 39 030 77605 73 E albereta@relaischateaux.com

www.albereta.it

Hotels - Relais & Châteaux - Ita

by Ob

Relais San Maurizio – Hotel del Monastero

A journey of colours, fragrances and flavours, discovering the Piedmont’s hills and vineyards: staying at the Relais San Maurizio will create truly unforgettable moments

Surrounded by the hills and vineyards the Relais San Maurizio is the perfect of the Langhe area of Piedmont, fa- vantage point for a journey of colours, mous for its white truffles and wines, fragrances and flavours exploring the the Relais San Maurizio is a 17th cen- Piedmont region. It is the land of tury monastery which has been trans- exceptional wines, accompanied by formed into a stunning and discreet typical products like cheese, hazelnuts and unforgettable cuisine. With Relais & Châteaux resort. Fragments of history and legends sug- 31 rooms, each opening onto the park gest that Franciscan monks built this with its ancient trees, and views of the vineyards, staying at monastery in 1619, “ an innovative the Relais San Mauwhere they dediarchitectural location rizio is a memorable cated their days to encompassing the charm experience. Relax pray and work, influencing the start and style of a bygone era ” by the magnificent pool, dine at the of viniculture, that Michelin starred became essential for the whole area’ economy. After “Da Guido” restaurant, which only the Franciscan community had left, uses the finest local ingredients, or be in 1862 it became until recently the pampered in the new Spa “La Via del home of the “Incisa Beccaria di Santo Sale Medical & Beauty SPA” The monStefano Belbo” Counts. This is the ori- astery of San Maurizio is located along gin of the Relais San Maurizio – Hotel one of the five historic salt ways that del Monastero. After a careful restora- brought this precious material from tion, it has become an innovative ar- the Ligurian sea to beyond the alps. chitectural location encompassing the The salt, together with all it’s oligoecharm and style of a bygone era. Set lements, has been irreplaceable in in a little villa in Langhe, near Alba, Health Therapy. The salt, the heart of

www.relaissanmaurizio.it

• Suite • External swimingpool • Terrace • Bedroom • Whirlpool

our new SPA, will be the protagonist of the Thermal Cave, with it’s water and it’s exclusive, therapeutic and estetic treatments, is a perfect symbiosis with the innovative centre of speciality medicine aimed at well being.

Vip Treatment

• a welcome back glass of local wine • free gift in the room

San Maurizio – Hotel del Monastero Localita San Maurizio, 39 I-12058 Santo Stefano Belbo (CN) T: + 39 0141 84 19 00 F: + 39 0141 84 38 33 E: maurizio@relaischateaux.com

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Milan London - Family busin

Family business and the continuance of firms

Succession of the business requires governance of complexity, prevention of conflicts, continuance of the firm’s principles of governance and maintenance of the integrity of the business. The Partners of BVBR&W Law Firm provide a focus on these issues. Avv. Gianbenso Borgognoni Vimercati

• Avv. Borgognoni-Vimercati • Avv. Romano

• Avv. Wood • Prof. Avv. Brancadoro

wishes in relation to the management of the firm held in Trust.

• quota holdings granted special managing powers or other rights; • “presence” of the quota holder in the Board.

Trust and the continuance of firms

Stability in the management of firms is one of the most significant challenges currently faced by businessmen and their heirs. In Italy there is a high presence of small and family-run businesses. The continuance of these firms is principally achieved through companies, wherein the heirs progressively join the former managers who, in turn, train the younger generation in how to carry on the firm’s activities. This allows for a certain reliability and stability in the firm’s future management. Trusts, nowadays recognised and disciplined also in Civil Law countries, are very sophisticated devices which can guarantee the continuity of a firm’s management. Moreover, they can obviate shareholder conflicts (made worse by family disputes) and also enable the continued integrity of the firm’s patrimony – both as regards the risk of dismemberment and also the continuance of the firm’s principles of governance. The Trust may be considered a “Living Patrimony”, managed by Trustees appointed by the former businessman, who will fulfil the latter’s wishes and, at the due time, pass the patrimony on to the trust’s beneficiaries. This assures the fulfilment of the former businessman’s wishes and the appropriate training of the new generation of businessman. Of course, the choice of the Trustees, who are “de-facto” owners of the businessman’s shareholding, is of primary importance. Most Common Law jurisdictions allow the appointment of a Protector. The Protector is a “watchman” who ensures that the Trustees manage the businessman’s patrimony soundly and pursuant to the wishes of the latter. This ensures the businessman that the Trustees, entrusted with a discretionary managerial power, will manage the firm according to his wishes. The Protector is not a Trustee but Trustees must consult him and obtain his consent before engaging in extraordinary operations or before diverging from the businessman’s

Focus on Italy

Prof. Avv. Gianluca Brancadoro

Companies and family business

In Italian family businesses the controlling partner is also, very often, head of the firm. This determines an efficient transmission of the “business view”, management control, and reduction of agency problems. Weak points are high personalization, weak dialectic in decisional processes, inefficiencies in management turnover. We may summarise the way relatives/partners (or future partners) interact within the firm: a) managing the firm; b) being officers; c) training; d) having other contractual relationships (e.g.: agents); e) financing; f) only investing in the firm. Company schemes need to govern such complexity and prevent conflicts. Nowadays Italian company models are more flexible than in the past. The “società a responsabilità limitata” (srl) presupposes a limited number of quote holders; its choice is not influenced by the firm’s dimension; this company, which is very flexible, enables: • constitution of the capital also paying-in services and any other economically valuable asset; • equity participation not proportional to the amount paid-in; • dividends not proportional to equity participation;

The srl may be highly personalised, also in respect to single partners, and may be used as a holding, where the positions and weight of the partners in the controlled companies may be defined. The “società per azioni” (spa) is more rigidly structured. Private autonomy allows diversification of shares in classes and issue of several financial instruments (either debt or equity): • shares with special rights and/or preference shares; • shares with voting rights limited to special issues; • shares with voting rights limited to special quotas; • shares correlated; • hybrid financial instruments; • bonds linked to business. Once the structure has been defined, it is necessary to make it stable, also by: • limiting circulation of quotas or shares; • buyback clauses; • negotial discipline of recess; • exclusion. It is possible to graduate the weight of the lock-in or provide for exit (also by exclusion) in order to attain stability in family-based companies.

Avv. Giorgio Romano

Succession in business Succession in business, most commonly organised as company business, is a much debated question in Italy where most enterprises are family business. Succession can be understood as the gradual closer collaboration of the descendants of the entrepreneur into the business, so as to avoid sudden heavy responsibilities without any experience at the time of the succession. In order to determine the future structure of the business, today’s entrepreneur can count on a number of instruments: alternatives to the traditional will, donation and similar which have proved to be unfit. The entrepreneur who anticipates his succession essentially aims to keep the integrity of the business, since the risk is often linked to a possible split up of the productive complex, disputes or the concrete impossibility to manage delicate situations. A Trust can constitute a very effective instrument as an alternative to traditional succession, especially when the entrepreneur not only intends to transmit the company’s assets but also wishes to ensure continuity in its management. In fact, a Trust permits the inclusion of managerial offices which shall ensure the management of the business, either for a limited period or for longer periods. Even in the presence of a number of different instruments, we deem it opportune to limit our analysis to Family Business Agreements and the so called “clausole di consolidazione” (consolidation clauses in partnerships). Family Business Agreements consist of contracts between the entrepreneur and his descendants, through which he transfers the whole or part of his company’s assets to one or more descendants. By the same, or a separate contract, the other descendants not included in the agreement shall receive money or other assets, which shall count as a reserved portion of the assets under succession. Family Business Agreements are stipulated in the case that the entrepreneur intends to grant the future management of the business to one or more descendants, leaving aside other www.bvbrw.com

• Layers of the Studio • Books

descendants and they protect the agreement from contestation by descendants not included among the beneficiaries of the business assets. The consolidation clause (applicable to partnerships) provides that at the decease of one of the partners, his share is to be transferred to the surviving partners, while his heirs shall be attributed a sum equal to the worth of the said share at the moment of its liquidation. However disposition can also be made for the heirs to take over the shares. In this case the partners can decide on the future structure of the company without needing to use the customary instruments for succession. These techniques are certainly more effective than traditional ones, also because their fiscal burden is often no different from that of succession or donations. Avv. John G Wood Trusts A Trust divides the ownership of the property between the legal ownership and the beneficial ownership. This is a concept very alien to Civil law lawyer but is very familiar to the Common Law lawyer. So the Trustee becomes the legal owner of the property and has the right to deal with it, either freely or in accordance with instructions delivered by the former owner, or Settlor/Trustor. Thereafter if the property is sold or court action has to be taken to recover, e.g. rent not paid on land or buildings then it is the Trustee who signs the Deed of Sale or who goes to court. The Trustee will account to the beneficiaries of the Trust,

named by the Settlor when delivering the property to the Trustee, for the income or parts or the whole of the capital of the Trust in future years. The benefits can be either absolute, the beneficiaries will receive specific bequests of income or capital on certain dates or on the occurrence of a certain event. Or the trustee may have a total or restricted right, as set out in the trust deed to determine which beneficiary shall receive what and when Where the trustee has a discretionary there will usually be a separate confidential document not intended to be published or shown to beneficiaries unless the trustee is compelled to do so setting out the wishes of the Settlor to guide the Trustee Many offshore jurisdictions where the trust industry flourishes have specific legislation to prevent the application of forced heirship even if the settlor and beneficiaries are resident or citizens of a civil law jurisdiction providing for forced heirship. The civil law country may still have jurisdiction over assets located within its jurisdiction A trust which is professionally prepared to provide the right balance between the wishes of the settlor and the rights of the beneficiaries can be an effective way to preserve family assets. It is a means of organising the Settlor’s affairs and assets in advance in order to safeguard against potential losses arising from some future disastrous event. Even when the Settlor and/or beneficiaries are in a civil jurisdiction with care and attention to detail a Trust can still be a very effective estate planning vehicle. Focus on Italy

Company profile - Dexia

by Edm

Dexia, Private Swiss Bank based in Lugano, opens new high tech and designer Branch

New address, central position, right in the heart of Lugano. Dexia Private (Swiss) Bank, prides itself on 70 years of successful experience in the Swiss Financial Sector. Dexia is positioned in all the key fi- Modern furniture of famous designers nancial markets of the Confederation: has given the offices great taste and Basle, Geneva, Zurich and Lugano. simplicity. A special space was then Being an international bank, Dexia given to local painter Elena Mascetti offers its private clients a wide range Adamo, exhibiting her works of art of individual and financial services on the office’s walls. both in Switzerland and abroad. Di- This small architectural gem was rectly connected to Dexia Banque In- completed by decorating each wall ternationale of Luxemburg the Swiss with venetian plaster. bank’s core focus is Private Banking. Medium term strategic goals include Dexia also exerts its activity of Pri- strengthening of personnel and the vate Banking in Bahrain, Belgium, recent launch of a new price strucDenmark, Jersey, Luxemburg, Mo- ture which is very convenient for naco, Spain, Turkey and Uruguay, clients in such a difficult financial managing a total wealth of about € moment. 45.000 and a total workforce of 1000 Unfortunately Dexia wasn’t saved people (Dexia counts about € 33.000 from the financial crisis which hit employees throuthe Stock Exchanghout the World). ge in 2008. The Since July 2005 group however, “ Dexia offers its private the Lugano clients a wide range of indivi- thanks to state Branch, excluintervention from sively active in dual and financial services ” France, Belgium Private Banking and Luxemburg just like the other has been adeSwiss branches, is headed by Mana- quately recapitalized (an operation ging Director Armando Adamo, who worth 6.4 billion euro) . From the beafter a solid 10 year career gained in ginning of October the Group also another important Swiss bank, has takes joy in a new top management reorganised Dexia’s Ticino branch. which comprises French and Belgian Consequently, in September 2008, state delegates. the offices moved to Piazza Dante 8, At present, following thye increase of in what is considered the Commer- their financial capital, Dexia Group cial and Financial general headquar- remains one of Europe’s greatest caters both of Lugano and of Interna- pitalized bank groups. tional branches. The new subsidiary differentiates itself thanks to its high innovative value in terms of design and high tech. “ We felt the need- says Managing Director Adamo- to acquire greater visibility with the many customers that each day flow into Lugano’s financial market and also to aim at the operators working in the sector, also bearing in mind our the strategy of increasing the personnel in the forthcoming years. We hence started looking for a place that could respect standards of functionality and at the same time be welcoming and of impact to clients and the operating team.”

Focus on Italy

Dexia's offices in Lugano • Living-room for costumers • Red Corridor • Open Space front office