The bronzed banker is back. Matteo Arpe has taken most of his young team from Capitalia and put them to work in Sator Group, a ready-formed financial institution of 40 people engaged in asset management and private equity.

Mr Arpe says in an interview that the team was able to come together “without any ties or obligations” – a pointed reference to the backroom manoeuvring that often characterises corporate Italy and led to the abrupt end to his job as chief executive of Capitalia this year.