Arab Finance: Intesa Sanpaolo has appointed Paola Papanicolaou as the new Head of its International Subsidiary Banks Division (ISBD), according to an emailed press release.

Papanicolaou succeeds Marco Elio Rottigni, who left his role after being named as Director General of ABI, the Italian banking association.

ISBD highly contributes to Intesa Sanpaolo's profitability, making up about 14% of the group's net income in the first quarter of 2024.

It operates on three continents, with retail banks in 12 countries including CEE area and Egypt, in addition to an asset management company in China.

This extensive network currently serves 7.2 million customers via up to 900 branches and a dedicated workforce of about 21,000 employees.

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