Marina Natale

Career

November 2023 – November 2025: Kitra Advisory S.p.A., Senior Advisor

Senior Advisor at Kitra Advisory S.p.A., an independent financial advisory boutique focused on M&A and Alternative Investments. With offices in Milan and Rome, Kitra Advisory aims to establish itself among the reference players for alternative asset investments and M&A in Italy. In addition to providing M&A advisory services, Kitra also invests directly in selected opportunities.

July 2017 – June 2023: AMCO – Asset Management Company, Chief Executive Officer and General Manager

Responsible for building a leading player in the management of non-performing exposures, serving as a reference point in the Italian NPE market, in support of the country and the real economy. With a twenty-year track record (as SGA), AMCO reported €36.1 billion of NPEs as of June 2023, including €12.2 billion of UTPs, 74% of which related to over 40,000 Italian companies. Controlled by the Ministry of Economy and Finance, AMCO operates as a full-service credit management company, adopting a flexible and innovative business model while maintaining a strong focus on stakeholder respect. The management approach aims to avoid financial and reputational stress and to promote business sustainability, including through the direct provision of new financing to support business continuity and industrial turnaround, thereby reinjecting resources and momentum into the national economic system.

April 2017 – July 2017: Fiera di Milano, Chief Executive Officer

Temporarily responsible for the management of the company under ordinary powers delegated by the Board of Directors, in order to support the company during the period of Judicial Administration procedures no. 34 and 58/2016 ordered by the Court – Preventive Measures Section, following criminal infiltrations identified within the subsidiary Nolostand.

September 2016 – March 2017: UniCredit SpA, Head of Strategy, Business Development & M&A

Responsible for defining the Group’s strategic targets, contributing to the development of the Group Strategic Plan, maximizing return on invested capital through active business portfolio management and acting as the central point of responsibility for M&A activities within the Group.
Member of the Executive Management Committee.

October 2015 – August 2016: UniCredit SpA, Deputy General Manager, Head of Strategy and Finance

Deputy General Manager at UniCredit SpA, while maintaining the role of Manager in charge of preparing the Company’s financial reports and supervising the Internal Control Systems.
Member of the Executive Management Committee.

May 2009 – October 2015: UniCredit SpA, Group Chief Financial Officer

Chief Financial Officer and Manager in charge of preparing the Company’s financial statements.
Member of the Executive Management Committee.

July 2008 – April 2009: UniCredit SpA, Head of the Private Banking Division

Initiated and led the development of a European Private Banking platform through the harmonization of client service models across the Group’s countries of operation. Transferred best practices across markets and strengthened the advisory component to create added value and ensure sustainable revenue growth, even in a low-performance market environment.
Reinforced the positioning of Private Banking as a unified, high-quality platform serving clients throughout Europe, with the objective of promoting Group synergies across retail and corporate segments.

October 1997 – June 2008: UniCredito Italiano SpA, Head of M&A and Business Development

Supported Group top management in short-, medium- and long-term strategic development initiatives, focusing on capital allocation, geographical and business mix, and a proactive approach to business portfolio management.
Led all M&A transactions executed by the Group during the period, including landmark transactions such as the creation of UniCredito Italiano, the acquisition of HVB, the merger with Capitalia, and the establishment of the largest financial services platform in Central and Eastern Europe.
Assessed over 100 potential M&A transactions (public, private, domestic and cross-border), acting both on the buy-side and sell-side in more than 30 countries, developing extensive corporate finance expertise, including:
Coordination of internal and external accounting teams in due diligence processes aimed at identifying potential accounting misstatements in target companies’ financial statements
Valuation of target companies and assessment of the impact of proposed transactions on the Group’s capital structure (including goodwill allocation and related analyses)
Management of negotiation processes
Structuring of complex transactions, including optimization of funding through equity and/or debt instruments
Execution of extraordinary transactions such as asset contributions, mergers, demergers and similar corporate actions

January 1991 – September 1997: Credito Italiano, Planning and Control

Responsible for:

Implementation of management control systems (CDG) and Asset Liability Management (ALM) policies and procedures, ensuring compliance with applicable accounting principles
Definition and management of the overall budgeting process, providing top management and the commercial network with comprehensive periodic reports, analyses and updates
Development of an effective Management Information System (MIS) and identification of relevant inputs and underlying data

January 1988 – December 1990: Credito Italiano, Research and Planning

Developed a data analytics and monitoring system for the banking sector based on a database of bank financial statements.
Cooperated with the Bank of Italy in the development of a system for the analysis of market and credit risk within the Italian banking system.

Boards of Directors

April 2024 – present: Member of the Board of Directors of ERG S.p.A.; member of the Control, Risk and Sustainability Committee

April 2024 – present: Member of the Board of Directors of PKB Private Bank SA

December 2021 – present: Member of the Board of Directors of Nexi S.p.A.; member of the Control, Risk and Sustainability Committee; Chairman of the Related Parties Committee

December 2019 – April 2024: Member of the Board of Directors of WeBuild; member of the Control, Risk and Sustainability Committee

October 2017 – July 2023: Member of the Investors Committee of Italian Recovery Fund (formerly ATLANTE II)

May 2017 – April 2020: Member of the Board of Directors of Valentino

April 2017 – July 2022: Member of the Board of Directors of Fiera di Milano

October 2016 – September 2017: Member of the Board of Directors of Mediobanca – Banca di Credito Finanziario S.p.A.

July 2016 – March 2017: Vice Chairman of the Board of Directors of ABI (Italian Banking Association)

May 2016 – March 2017: Member of the Investors Committee of the ATLANTE Fund (I, II)

April 2016 – September 2016: Member of the Board of Directors of Anthemis UniCredit Strategic Ventures LLP

December 2015 – July 2016: Member of the Board of Directors of ABI (Italian Banking Association)

October 2015 – March 2017: Member of the Governing Council of Assonime (Association of Italian Joint-Stock Companies)

July 2015 – February 2017: Member of the Board of Directors of FITD (Interbank Deposit Protection Fund)

May 2015 – March 2017: Member of the Supervisory Board and Audit Committee of UniCredit Bank Austria

April 2014 – November 2016: Member of the Board of Directors of FinecoBank

April 2010 – November 2016: Member of the Board of Directors of Pioneer Global Asset Management S.p.A.

July 2009 – June 2014: Member of the Supervisory Board and Audit Committee of UniCredit Bank AG

Languages

Italian (native), English (fluent), French (basic knowledge)

Education

September 1981 – November 1987: Università Cattolica del Sacro Cuore – Milan

Degree in Economics and Business Administration, 110/110 cum laude

September 1976 – June 1981: Liceo Classico S.M. Legnani, Saronno (Varese)

I hereby authorize the processing of my personal data in accordance with Legislative Decree No. 196/2003.