Considering that the merger between Intesa and Sanpaolo became official on the stock market only for a few months, it is still a little too early to predict how well the Intesa-Sanpaolo stock will do in the short term.
This being said, we can’t help feeling optimistic about it, considering that the market seems to have already expressed a very positive opinion on the super-bank’s potential.
As a matter of fact, there has already been a 30% rise in their stocks since the merger between the two banks was officially announced. Moreover, two more factors should be taken into consideration to determine the value of this stock. First of all, chances that the group may score a staggering dividend in the next few months are very high – the dividend will be determined by the capital left from the planned foreign acquisitions.
The second factor is the reappraisal of shares owned by major stockholders: in fact, after the Spanish group Santander was reassessed under 2%, in the next few months Crédit Agricole is expected to go from 9% to 5%, while Fondazione Cariplo, Compagnia Sanpaolo, Cariparo and Carisbo are likely to face an adjustment of their stock value. As a combined effect of all these changes, sales and purchases are expected to balance each other out, while pressures on the market should be irrelevant.
The managing body of the group was appointed without much ado – Enrico Salza will be the new Chairman, while Corrado Passera was appointed CEO. 
Intesa-Sanpaolo therefore becomes the main and most important Italian bank, with approximately 12 million customers – or, in other words, about one out of five Italians. In Italy, the group currently boasts a total of about 5,400 counters, as well as market shares of over 15% in 15 regions and under 5% in just 9 provinces out of 103. 60% of counters are located in the North, with 3,300 branches. In detail, market shares for the different areas of the country range between 21.4% in the North-West and 13.1% in the center. 
As a result, the Intesa-Sanpaolo group ranks as the major bank in Italy – except for the North-East, where it came second after another major bank group, UniCredit.
Just as interesting are figures relating to their international expansion. As a matter of fact, the super-group boasts a strong presence abroad, too, with 1,400 windows and 6 million customers (mostly concentrated in Central and Easter Europe), for a total profit of 25 million Euros. 
These figures have earned the group a third place in the Euro-zone (after Santander and Bnp Paribas), and a sixth place on a European level (after Hsbc, Ubs, Royal Bank of Scotland and the above-mentioned Santander and Bnp). Their capitalization in the stock market amounts to close to 70 billion Euros.

Intesa Sanpaolo
Piazza San Carlo, 156 - 10121 Torino - Italy
Phone/Tel. +39 011 5551
www.intesasanpaolo.com  - info@sanpaoloimi.com 
 

When we think about America and its extraordinary opportunities such a wonderful country can offer us, our thought always falls on the same well-known cities, linked to the collective imagination and to the mass tourism such as Los Angeles, New York and Boston.
Richmond, capital of the State of Virginia located in the centre of the east coast of the United States, less tourist, less bearer of dreams, is an example of an excellent location for your business. Founded in 1731, over 400 years ago, aiming at becoming a central market, the nerve centre of gathering for export activities of Virginia to England, with its location nearby the mouth of the river James.
Richmond means also cultural and recreational opportunities worthy of a great city: the Atlantic beaches, the ski slopes on the Blue Ridge Mountains and the fascinating Washington are all easily accessible by a two-hour drive.
A statistic connected to the road traffic is clear: 24 minutes is the average travelling time. All those who have visited the States at least once know very well how this could represent an extraordinary data – not to mention Italy – where 24 minutes represent every driver’s impossible dream being in Bologna bypass and wanting to take or come out of the motorway. But let’s talk about business.
Richmond metropolitan area attracts labour from over 40 places within the state. Industries and companies operating in various sectors, and a considerable concentration of educational institutes providing all the new growing businesses a significant workforce and a highly skilled labour, based on the wide choice of available workers characterized by a strong aptitude and a vocational guidance.
Over 60.000 students enrolled to university and 7.700 degrees conferred assure all this.
Secondary education is one of the state of Virginia prerogatives. At a global level Greater Richmond economy proves to be balanced and diversified, no sector or industry particularly dominates and this means having a cushion towards potential economics periods of recession or crisis regarding specific sectors and highly sectional towns. In this variety of sectors we find: 12 branches of Fortune 1000 companies; industrial companies operating within pharmaceutical, chemical, biotechnological, semiconductors sectors, and other sectors being typical of the 21st century; the Fifth District Federal Reserve, the Fourth Circuit U.S Court of Appeals and the Virginia state capital; financial and information services; and famous universities. Numerous Italian companies, such as Bondioli & Pavesi Inc. (components production for farm machinery), Fiorucci Foods Inc. 
(meat-based Italian specialities), and G.D Package Machinery Inc. (packaging machinery) have branches in Richmond. Branches of foreign companies have in the area over 157 structures, for a total of 13.390 people employed. European companies represent 69% of the foreign companies, 73% of the structures and 77% of the staff. Various successes and recognitions to Richmond, considered one of the best 25 American metropolitan areas concerning the development of trade activities, being placed 14th in the classification drawn up by Inc. magazine in May 2006. Being placed also 26th in the list of the 50 “best living places” within the whole of the United States, in the Kiplinger’s Personal Finance June 2006 issue.
The most undoubtedly interesting aspect of this city is the low costs connected to a prospective trade activity. The set-up costs are below 16% compared to the American average. The unemployment benefit and compensation costs regarding workers are among the lowest of the whole of the United States.
Taxes on stock in trade concerning productive activities are equal to zero. The cost of living in Greater Richmond is included in the American average and is lower than greater areas such as New York and Los Angeles. Some of these data proves what has been said:
Jacksonville 99,0 New York 201,2
Richmond 108,8 Boston 133,6
Washington D.C 142,1 Los Angeles 158,2
100= USA average; data related to 297 urban areas.
Source: first quarter 2006 ACCRA cost-of-living index.
Various organizations, entrepreneurs’ associations and government companies have associated with Greater Richmond in order to realize productive economic exchanges, to help foreign citizens and their families living and working in Richmond, whilst having to adjust themselves to the new life in the United States.
Following some operating organizations within the area:
- Italian American Business and Professional Society Inc.
- Italian American Cultural Association of Virginia
- Order of the Sons of Italy
- International Club
- Richmond Export-Import Club
- World Affairs Council of Greater Richmond.

Greater Richmond
Partnership Inc.
901 E. Byrd St. - Richmond, VA 23219 - USA
Phone/Tel. +1 804 6433227 / +1 800 2296332

Greater Richmond Partnership Inc.

The Greater Richmond Partnership provides assistance to identify the right location for American and foreign companies in search of new structures or in widening process of the structures already operating.
The Partnership represents the county of Chesterfield, Hanover, Henrico and the Richmond itself. 
It’s about a public private-run company non-profitable, founded jointly by the four local governments and by around 200 companies within the area. 
Services are provided by companies free of charge and with considerable discretion.
Among the Services provided by partnership:
- Assistance in searching the most suitable location
- Support in searching information and in the development of researches
- Displacement Services of company employees
- Public relations services
Within the US Start-up Model for International Firm more precise information for international companies are available, where set-up costs sustained in Richmond are compared to the ones sustained in other eight cities. 
The Directory of Foreign Affairs (guidance to branches of foreign companies) contains instead useful data and information concerning products merchandized by branches of foreign companies working within the metropolitan area. 

To the President and CEO of Greater Richmond Partnership Inc., Gregory H. Wingfield exceptionally in Italy for the only meeting date fixed, some questions are addressed:

President Wingfield, are you the only company of Virginia organizing these meetings to promote your country or are there any other?
No, there are some other such as: Firefox, Hamptonroad, etc. but none of these has ever been present in Italy.

You have done a lot for the promotion and development of your territory, do you believe a lot in these meetings?
Yes, I do believe a lot in the concept of globalization, I have been to China, to Europe, we have over 130 companies coming from abroad.

Are you planning to open offices and companies in Italy in order to be more present?
It could certainly be an interesting possibility but at the moment our resources are limited due to important investments we have done in the UK.