It retains more than an honorary chairmanship

"For me, me up in the morning by saying" that is what I do today", that is the Supreme test", said Antoine Bernheim at "The Express" in February 2009. It was a few months after delivering battle against the leaders of the British Fund Algebris, who both alleged age, nationality and remuneration. Battle won top hand in a memorable Generali Assembly which lasted nine hours. This time however, the confrontation will not occur, the shareholders of Generali, Mediobanca in mind, decided otherwise: "Tonio", as many dubbed, is more able to preside over the fortunes of the largest Italian insurer. It is Cezare Geronzi, the Chairman of Mediobanca, which will replace it. It retains more than an honorary chairmanship.

Eighty-five years, this passage from witness could be lived as an honourable retreat but, for this character key of the French and Italian, finance said at origin of the great French fortunes - Bernard Arnault to François Pinault, passing by Vincent Bolloré-, this implementation to the difference is indeed a test. "This is the work, he said, which allows me to survive." There is no doubt that it will continue to walk its silhouette sandwiched in his immutable costume three pieces and now a little vaulted in several boards of Directors and Committee remuneration of this side of the Alps.

However, this is the end of a French history began in 1967 when, Associate Manager for Lazard - that he would remain until 1999-, he became Director of the insurance company the France, a participation of the Bank, then CEO in 1972, becoming also Vice-President of the Generali group. At the time of the merger of French entities of the two companies, he became Chairman of Generali France (1995) and the Italian group. This is the time where relations between banks Lazard and Mediobanca - which he is Vice President, from 1988 to 2001 are cloud-free.

Betrayal and revenge

The head of the "lion of Trieste", Antoine Bernheim surrenders in 1996 its participation in AXA, allowing the growth of Claude Bébéar, then surprised the financial hub of Paris a year later by launching Generali to attack the AGF. It is ultimately Allianz who will win the last. But, in Italy, Generali strengthens. They are in fact the repeated incursions of Lazard in the life of Italian Affairs who eventually irritate Mediobanca. At this point than its nonagénaire President, Enrico Cuccia, decides to evict Antoine Bernheim of the Presidency of the insurer in 1999. A camouflet.

The latter will feel betrayed by "his friend of 30 years" and will constantly return. Assisted this time by Vincent Bolloré, entered in Mediobanca, it expects only two years to be called again in Generali, as Vice-President, then as President in 2002. He takes his revenge. All that, since the insurer reached larger profits recorded since its inception. Is the story repeated "Spiritual son" Vincent Bolloré him there he also "betrayed", as Enrico Cuccia eleven years earlier, or while it is, as Vice-Chairman of Generali, assume the legacy Two scenarios, it is the latter which is now preferred by observers. Antoine Bernheim, whose outspoken is legendary, should soon give its opinion on the issue.

In the meantime, the time of retirement will sound for the old lion. Will it be taken by the temptation of Venice Living for years in the Sérenissime - one of his daughters is married to Domenico of Orsini, Member of one of the oldest Italian families-, and remaining President of Generali, it is not likely to desert the Italy. Yet in form, it should not simply indulge in his passion for the bridge.