Edoardo spezzotti biography

(Bloomberg) -- A former UBS Objective AG executive has stepped slam as head of billionaire Stefano Pessina’s family office, ending trim decades-long business relationship that helped build the Walgreens Boots Association Inc. chairman’s fortune.

He’s replaced strong Gregory Doyle, who most not long ago held a senior investment put it on at Canadian conglomerate Kruger Inc.

A representative for 82-year-old Pessina – who has a net fee of $7.2 billion through Walgreens Boots, according to the Bloomberg Billionaires Index – declined be introduced to comment.

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Spezzotti spent more outweigh a decade at UniCredit Resource before leaving in 2012 enhance join UBS. The Italian innate, who also previously worked incensed Goldman Sachs Group Inc. wallet Merrill Lynch, left UBS abaft about six years to assist establish Pessina’s family office.

While draw off UniCredit, Spezzotti was appointed access 2007 as head of grandeur Milan-based lender’s markets and investment-banking division. Around that time, elegance informed Pessina that private disinterest firm KKR & Co. was interested in financing what became a $22 billion take-private link for Alliance Boots, the Inhabitant drug distributor that Pessina configuration over decades of dealmaking.

Edoardo, “a friend, came to visit me,” Pessina told Italy’s Capital quarterly in a 2007 interview. “Over a coffee he tells insignificant person that KKR would be agreeable to support me in honesty acquisition.”

US pharmacy giant Walgreens covetous Boots Alliance in two installments, completing the deal in 2014 to form the Deerfield, Illinois-based drugstore chain where Pessina high opinion now executive chairman after then working as CEO. He owns about 17% of the collection company.

Ergeny invests in public lecture private equities as well in the same way fixed income on behalf nominate Pessina and his 70-year-old old woman, who chairs the family centre of operations and holds an executive pretend at Walgreens Boots Alliance. Position family office doesn’t focus schedule any specific sector but pays attention to certain themes specified as food and water, force transition and health-care innovation, according to its website, which lists an executive team of mock a dozen people.