Leaders in Finance: Alessandro Basile, CFO Banca Sella

On November 20, 2024 the MCF class met Alessandro Basile, CFO of the Sella Group, who gave an inspiring speech about his ideas, experiences, and the role of a CFO today.

The Sella Group is an Italian bank with an international presence, comprising 6000 employees and serving over 3 million customers in 7 countries. The history of the bank spans across 140 years, and according to Alessandro Basile, it has stayed true to its core values since the beginning. 

First of comes the value of people. Incorporating employees’ ideas of improvement is something Mr. Basile believes in. He even mentioned how one of his bosses called his own doctor when hearing about a medical issue Alessandro Basile was having, showing that the Sella Group is an environment that cares. This is also reflected in their customer-centered business model, where people locate above profits.

He advised the class members to evaluate career path based on a prospective employer’s alignment with their values. This should be done by talking to past and current employees and ultimately testing the match ourselves. If those values don’t align, the only way to find happiness is to change jobs. The values of a company and a person never change, only the behavior does. Staying true to one’s values while changing the way they are shown: this is a sign of great maturity. “If you have to choose a path in life, the most important thing to assess whether or not this path fits your values.”

This alignment of values is the ultimate reason why Mr. Basile has stayed with the Sella Group for the whole span of his career and rejected several other offers along the way. He started in 1995 without a degree, as attending University was not an option, due to tight budget. He later graduated from Turin University while working, and then achieved a CFO program certification at Stanford University. Within the Sella Group, he covered several roles, including Head of Corporate e-Banking Services, Head of Group Strategic Initiatives, and Head of Group Planning, Execution, and Control. Since January 2024, he is the Sella Group’s Chief Financial Officer.

In comparing his role to sports, Mr. Basile explained that the best trainers are midfielders, as the best way to lead a company requires a 360-degrees view of everything that happens. Only with a holistic view the CFO can strategically map out the future. The most important thing is to plan long term and act daily, constantly adapting to changes. This also means that a strategy is only valuable if it is measurable. Key performance indicators are the backbone to achieve any plan. In the Sella Group, Mr. Basile is responsible for allocating EUR 130 million of capital expenditures every year, ensuring consistent growth of the company.

Mr. Basile told the class members to always have the courage to speak up for their values. Another feature that greatly shaped his career is to always accept when asked to help. Besides it being the proper thing to do, you never know where it may lead you. Together with skills, values and passion for people, it might make you the CFO of a Bank with EUR 124 million net profit.

SDA Bocconi School of Management