Markets

Italy’s stock exchange chief on family capitalism


Raffaello Jerusalmi, General Manager Borsa Italiana, and Board Member of the London Stock Exchange.
Picture: Alessandro Arena

Raffaele Jerusalmi, Managing Director of Borsa Italiana, on family businesses and sustainability. For him, the stock exchange is also a good mechanism for distributing aid quickly.

Dottor Jerusalmi, the Italian stock exchange had only a minor role in the Italian economy for a long time because many family businesses were not interested in going public. You have been the head of Borsa Italiana for ten years and also a member of the board of directors of the parent company London Stock Exchange for the same period. How has the Italian stock exchange developed recently?

The number of companies listed on Borsa Italiana has grown significantly. We increased from 296 in 2009 to 375 in 2019. We had 251 new companies, 212 of them with a public offer (IPO). It is a positive sign of how Italian entrepreneurs view the stock market as a way of growing their company more than before. These are above all the second generation entrepreneurs who are better prepared to deal with the financial markets. If we look at our AIM market segment, which is specifically geared towards small and medium-sized companies, the growth figures are even more impressive. We have increased from five to about 130 listed companies.

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