And UniCredito Italiano is likely to have its own ideas on Mediobanca's future.

ECONOMIST: Italian banking

These two banks, with UniCredito Italiano, own 25% of Mediobanca, but, in an odd inversion of roles, it is the investment bank that has usually pulled the strings.

ECONOMIST: Italian banking

Only a few months ago, Mr Grande Stevens took up yet another directorship, at UniCredito Italiano, a bank, where he acted as peacemaker after a shareholder row at the beginning of this year.

ECONOMIST: The law and the profits