The Shocking Truth Revealed: Meet the Secretive Masterminds Vying to Control Silvio Berlusconi’s Jaw-Dropping 4 Billion Euro Empire!

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In today’s newsletter:

• Marina Berlusconi comes to power

• Odey Asset Management plans a breakup

• The bright side of a power struggle at Nissan

Marina Berlusconi takes the throne

On Wednesday, more than 2,000 people crowded the Gothic Duomo of Milan to attend the funeral of Silvio Berlusconithe polarizing media mogul became Italy’s prime minister three times.

Many gods scandals what followed the billionaire politician – from the conviction for tax fraud to “bunga bunga parties” with underage girls – will now be left to history. But one question still burns about his legacy: What will become of his multibillion-dollar empire?

log into Marina Berlusconithe 56-year-old daughter of the late power broker who was quietly triggered to take over the family business over the past two decades.

Long believed to be her father’s obvious political successor – a prospect that has been floated again since his death – aides and confidants have told the FT’s Silvia Sciorilli Borrelli that all of her recent political dealings were meant to help “protect” the his father’s legacy.

His true place in the Berlusconi dynasty is at the helm of the €4 billion family holding company Fininvestwhich he has presided since 2005.

Marina and her four brothers hold minority shares in Fininvest, which controls the publisher Mondadorlender Mediolanum Banksoccer club Monza ACand the family’s media empire, Mediasetrun by his brother Pier Silvio Berlusconi. The group also checked AC Milan up to the eldest son Berlusconi sold in 2017.

While Marina and Pier Silvio will inherit half of Berlusconi’s 60% stake in Fininvest (their three half-siblings from their father’s second marriage will share equal shares of the remaining 30%), a new chapter has been begun for the family media conglomerate.

Mediaset has struggled to keep up with growing competition from streaming platforms. An attempted takeover of the group in 2016 by the French rival Vivendirun by billionaire corporate raider Vincenzo Bollorehe exposed the weaknesses of his strategy even though the deal was foiled.

Marina is expected to play a decisive role in deciding its future which could also include its sale, he said Lorenzo Castellaniprofessor a Luiss University.

The rupture preparing at Odey Asset Management

Odey Asset ManagementThe problems went from bad to worse.

The firm formerly run by the fallen hedge fund star Crispino Ody it’s breakingreported the FT Thursday, after an FT survey released last week detailed 13 women’s allegations of sexual harassment or assault (which he strenuously denies) against him.

The firm’s other partners moved on quickly to hunt his muddy head. But he didn’t make things any easier.

Following a widening investigation by the UK’s financial regulator and the flight of the company’s banks, Odey Asset Management suffered another major blow this week when JPMorgan Chase served notice of its agreement to safeguard assets for the hedge fund’s clients as its custodian.

The hedge fund company told customers was in “advanced discussions” to transfer certain funds and personnel to rival groups.

Odey Asset Management wouldn’t say which staff were going where, but last weekend’s events mean Crispin won’t appear on any of the spreadsheets.

The turmoil of Nissan’s leadership makes the deal with Renault smoother

The question of how to deal with an ambitious MP can be a sensitive one for CEOs.

TO nissanthe bully’s memory Carlos Ghosn and his insistence on compliant deputies still persists.

Yet the company was immersed in his deep government crisis since Ghosn’s arrest in 2018, after it emerged that months of boardroom turmoil led to the COO’s departure Ashwani Guptareported the FT.

Gupta assumed his role at the same time as CEO Makoto Uchida in 2019 after losing the race for the top spot.

In later years, people familiar with the situation say Gupta had too often overstepped his role to claim the limelight.

When he announced a £1bn investment in the firm’s Sunderland plant amid the pandemic, Gupta secretly traveled to the UK and was quarantined in a hotel, two people familiar with the news said. event. When Uchida learned of his deputy’s plans, it was too late to comply with the legal 10-day quarantine period for international travel.

The following day, Gupta took the stage as a senior Nissan executive, in an appearance that generated headlines – and photos – around the world.

But earlier this year, some within Nissan decided they had had enough.

External director Moto Nagai filed multiple internal complaints with Gupta, some of which were historic and which family members said had not been investigated at the time.

For those eager to get Nissan troubled alliance with that of France Renault back on track, Gupta’s imminent departure could be a welcome change.

The operating chief has long been seen by Renault’s top brass as one of the biggest hurdles in negotiations between the two automakers.

Nissan says investigations into the situation are ongoing. But his imminent departure demonstrates that for all the well-meaning governance reforms of the past half-decade, Ghosn has not been the least of his problems.

The work moves

• Disney‘s chief financial officer Christine McCarthy he is resigning take family medical leave. She will be replaced by the CFO of Disney Parks Kevin Lansberry until a long-term successor is found.

• Legal and general he named Antonio Simões to replace the retired boss Nigel Wilson in January. Joins from Santander where is the regional head of Europe.

• Amy Wu has joined Menlo Ventures as a partner in New York. Previously she drove Venture FTXthe investment company headed by Sam Bankman-Fried.

• German bank has hired Credit Suisse‘S Rumesh Rajendram as managing director focused on consumers and retail, based in London. Deutsche also took over Bank of America‘S Siddhart Malik as global co-head of consumer and retail for Europe, Middle East and Africa, based in London. citigroup‘S Robert Plow he will join the team as managing director.

• Morgan Stanley has hired JPMorgan senior trader Thomas Christl to co-lead consumer and retail coverage in Europe, according to Financial News.

• by JPMorgan Head of Equity Capital Markets for Asia-Pacific Murli Maiya she is leaving the bank and will be replaced by her London colleagues who are expanding their roles.

• Black rock has nominated ex Starbucks executive John Kelly to the new role of global head of corporate affairs, according to a note seen by DD. She was in a senior communications role at Roku.

Smart readings

The new king of Silicon Valley Jensen Huang spent three decades building Nvidia into a semiconductor powerhouse. But it was his bold bet on artificial intelligence turned him into a Big Tech titanwrites Bloomberg.

Big scream WE Soda IPO failure it is not the death sentence for the London market that businessmen pointing fingers are leading them to believe, former Bank of America executive Craig Coben argues in FT Alphaville.

Quality control The Struggles of Singapore Data Center Owner Digital Core Reit it is symptomatic of deeper issues within the listing regime of the Asian financial hub, writes the FT’s Mercedes Ruehl.

News review

Bullish valuation and poor economy blamed for WE Soda’s withdrawn IPO (FT)

Cava makes its debut as a US restaurant chain tests its appetite for IPOs (FT)

HarperCollins, KKR emerge as bidders for book publisher Simon & Schuster (Wall Street Journal)

First Quantum rejects Barrick Gold’s informal approach (Bloomberg)

Sexually explicit video of a Goldman partner led to millions in settlements (Bloomberg)

Australia withdraws advisers’ influence after PwC tax leak scandal (FT)

HSBC and Standard Chartered have urged the Hong Kong regulator to take on crypto clients (FT)

Bain Capital makes $3.2 billion offer for SoftwareOne, board says it’s too low (Reuters)