Billionaire Clans Jostle for Power as Italy Bank M&A Accelerates

Two of Italy’s most prominent billionaire clans are emerging as key power brokers in the biggest reshaping of the country’s banking industry for more than a decade.

The Del Vecchios, who control Ray-Ban maker EssilorLuxottica SA, and construction tycoon Francesco Gaetano Caltagirone have both built big stakes in Banca Monte dei Paschi di Siena SpA, the once-troubled bank set to play a pivotal role in the M&A wave. Together, the families now wield a combined €15 billion of financial services investments in Italy — and plan to make their voices heard as consolidation accelerates.

Francesco Gaetano Caltagirone

Photographer: Roberto Serra - Iguana Press/Getty Images Europe

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