SDA Bocconi's Dean Stefano Caselli Advocates for Italy's Capital Market Reform in Financial Times Interview
In a recent Financial Times interview with Silvia Sciorilli Borrelli, Stefano Caselli, the Dean of SDA Bocconi School of Management and Professor of Banking & Finance at Bocconi University, highlighted the significance of Italy's ongoing reform of capital markets. Caselli emphasized the vast financial potential within Italy, with a staggering 5,300 billion euros in financial wealth and a remarkable 188,000 small and medium-sized enterprises (SMEs) demonstrating not only resilience but also considerable upside potential.
Caselli discussed two key aspects that can greatly benefit Italy's economy. Firstly, there's a need to strengthen the direct link between savings and businesses. Secondly, attracting more international investors is a clear and logical choice to stimulate GDP growth and employment.
The reform of capital markets, often referred to as the "Decreto Capitali," plays a pivotal role in the government's overall strategy. Caselli stressed the importance of expediting and finalizing the reform, while also incorporating intelligent mechanisms for permanent tax incentives for both issuers and investors.
While advocating for the reform, Caselli cautioned against diverting the discussion towards corporate governance rules, as this could potentially hinder progress. Instead, he underscored the value of maintaining a straightforward and transparent capital market, which would undoubtedly make Italy a more attractive destination for investors.
The Dean's insights shed light on the opportunities and challenges Italy faces in its journey to reshape its capital markets and position itself as a global financial hub.
SDA Bocconi School of Management
25 June 2025
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