About

Alberto Sciocco joined Citi in 2005 after 10 years in private practice, and in 2015 was promoted to his current role as country counsel looking after the global banking organisation’s Italian legal operations. Managing a legal team of four people supporting both businesses with a presence in country and those operating on a cross-border basis from other jurisdictions, Sciocco supports the capital markets, investment banking and corporate banking, SFS, TTS, private banking legal areas. The team also works in cooperation with other the global functions – operations and technology, financial control, compliance, audit, and risk. Managing litigations and, more generally, any judicial and regulatory proceedings which might affect or involve the Citi branches in Italy, Sciocco is jointly responsible for managing the relationship with all the relevant Italian regulators including the Bank of Italy and Consob. Sciocco is a member of the law 231/01 surveillance committee, as well as several internal committees, including the country coordinating committee which is the equivalent of a board of directors at a country level. During his tenure at Citi, Sciocco has supported and advised the company through its reorganisation process, entailing the divestiture and dismissal of the entire retail, personal loans and cards businesses previously carried out in Italy. Sciocco highlighted that from a legal perspective, the tough negotiations and several complex legal aspects of the implementation and update of the so called Law 231 Organisational Model and for the Mifid II implementation and consequent impact on contractual documentation, policies and procedures was very interesting. Also that the well-known Parmalat cases in which Citi won a dismissal of $2.2bn claim by Parmalat, has been some of his most important work. He added that he has ‘restructured the team and changed the attitude, becoming more open and dialogue oriented’ and this approach has paid off for the business as well as cementing Sciocco as one of Italy’s premier in house lawyers.