Board of Directors

The Board of Directors of Equita Group S.p.A. is composed of 7 (seven) members appointed by the ordinary Shareholders' Meeting of the Company on 15 June 2017, effective from 1 July 2017, and will remain in office until the date of the Shareholders' Meeting called to approve the financial statements for the year ending 31 December 2019.

board of directors

Francesco Perilli

Chairman Equita Group

Born in Milan on 14 December 1960, after two years of experience as a mercantile marine deck officer at Costa Armatori, Francesco graduated with honours in Business Economics from the Bocconi University in Milan and completed his academic training by attending a specialisation course at the New York University.

After joining Euromobiliare S.p.A. (later to become Equita SIM) in February 1985, he led the company’s transformation into a securities brokerage firm.

Since 1989 he is in charge of the Equity Markets department. Since 1992, following the expansion of Equita SIM's activities, he has also been involved in Equity Capital Market (ECM) and Advisory activities. He has been a member of the ASSOSIM executive committee since 1994 and was a member, from April 1996 to December 1997, of the steering committee of Borsa Italiana S.p.A. and, since April 2017, of its Board of Directors. From 1992 to 2017 he was Managing Director (and since 1994 also Chief Executive Officer) of Equita SIM.

Thierry Portè

Vice-Chairman and Independent Director (*)

Born in New York on 28 June 1957, Thierry is currently the managing director of the private equity house J.C. Flowers & Co. LLC, and also holds many other positions in companies active in the insurance, banking and financial sectors.

He graduated with honours in Economics from Harvard University and then completed his Master's degree in Business Administration (MBA) at the Harvard Business School. He has held several leading academic and institutional positions, including serving as President of the Harvard Club of Japan (until 2008), Advisor to the Dean of the Harvard Business School and a member of the Harvard Global Advisory Council.

Upon appointment by the President of the United States, he also served as President of the Japan-US Friendship Commission and the US-Japan Conference on Cultural and Educational Interchange.

(*) Qualified as Independent Director according to the Legislative Decree n. 58/1998 (TUF)

Andrea Vismara

Chief Executive Officer Equita Group and Equita SIM

Born in Milan on 29 June 1965, Andrea graduated magna cum laude in Business Administration from the Bocconi University in Milan and has attended postgraduate courses at New York University. He began his career in London, at Goldman Sachs International, where from July 1990 to May 1995 he gained experience within the Corporate Finance team, then in the debt capital markets department with responsibility for bond issues on behalf of Italian clients.

Between July 1995 and January 2006 he divided his time between the Milan and London offices of Barclays, de Zoete Wedd (later acquired by Credit Suisse) and Credit Suisse, first as a member of the M&A team, then as Head of Equity Capital Markets for the Italian and Southern European markets. Subsequently, he held the position of Chief Operating Officer in 2002-2003 and that of legal representative of CSFB’s Italian Branch in 2004 to then oversee the management of customer relations on the entire range of investment banking products and execution of the orders received.

Between April 2006 and December 2007, he worked as a freelance consultant for large industrial groups. In 2008 he joined Equita as head of the Investment Banking and currently holds the position of Chief Executive Officer of Equita Group and Equita SIM. He has also been a member of the Board of Directors of Equita SIM since 2009 and of the advisory board of Borsa Italiana.

Stefano Lustig


Born in Milan on 11 March 1965, Stefano graduated in Business Economics from the Bocconi University in Milan in 1990.

From 1991 to 1992 he served as a financial analyst at Actinvest Ltd in London.

In 1992 he joined Equita, growing his professional career as a financial analyst from 1992 to 1996, as Co-Head of the Research Team from 1996 to 2017, and as Co-Head of the Alternative Asset Management business line since August 2017.

Sara Biglieri


Born in Pavia on 11 September 1967, Sara graduated with honours in Law from the University of Pavia. Subsequently, she began to collaborate with Italian and foreign law firms, developing a consolidated experience in the field of commercial and corporate law. She currently works as a partner at the Dentons law firm.

Throughout her career, she has served as chairperson or member of supervisory bodies at Falck S.p.A., Johnson & Johnson S.p.A. and the Johnson & Johnson Foundation. She has also published several articles in Italian and international trade magazines.

Michela Zeme

Independent Director

Born in Mede (PV) on 2 January 1969, Michela graduated in Business Economics from the Bocconi University of Milan during the academic year 1993/1994 and qualified as a chartered accountant and statutory auditor in 1999.

She has gained significant professional experience in the tax and corporate field, collaborating with leading firms and providing advice to numerous companies (including listed companies) and Italian groups operating in real estate, telecommunications, and in the industrial, financial, insurance and banking fields.

She has held several institutional positions in leading Italian companies and financial institutions.

Qualified as Independent Director according to criteria established by the Self-Regulatory Code of Borsa Italiana.

Massimo Ferrari

Independent Director

Born in Rome on 31 August 1961, after graduating in Economics and Business from LUISS Guido Carli University in Rome, Massimo became Chief Executive Officer, General Manager and Investment Manager of Capitalia Asset Management SGR, General Manager and director of several internal committees of Fineco Group and senior vice-president and secretary of the Committee for Internal Controls and Risks of UniCredit Group.

He also holds the position of central co-director and head of the Issuers Division of Consob and member of the board of directors of Borsa Italiana S.p.A.

Subsequently, in October 2011, he joined Salini Costruttori where he held the position of Director of General Affairs and Strategic Projects and in July 2012 he was elected member of the Board of Directors of Impregilo and then appointed to the Executive Committee. In August 2013, he resigned from the executive committee following his appointment as general manager group finance & corporate.

He currently holds the position of general manager corporate & finance and group chief financial officer of Salini Impregilo.

Qualified as Independent Director according to criteria established by the Self-Regulatory Code of Borsa Italiana.