Banco BPM and the #Respect program

It’s not the first time we’ve mentioned Banco BPM’s People Strategy — but where did the need to focus on people come from, and when?
Speziotto: Our Group was established on January 1, 2017, through the merger of two former cooperative banks which, by virtue of their mutualistic spirit, had a strong focus on people and their local communities in their DNA. This made us a start-up with 150 years of history, carrying forward the tradition that both cooperative societies wanted to embed within Banco BPM’s mission. As a result, from the very beginning, we had to find a balance between our heritage and the evolving needs of the market. This is where our closeness to families, businesses, and all the communities we serve comes from — and where our People Strategy originates.

What is the #Respect program?
Speziotto: Within our Group, the word respect reflects our core values. In 2021, we launched the #Respect program with the goal of defining what respect means for Banco BPM and promoting inclusive behaviors both within the company and towards our stakeholders. We wanted to start from within — engaging our people to identify the attitudes, actions, and everyday practices that embody such a distinctive value. To drive a cultural shift and be more effective, the program — strongly supported by our CEO Giuseppe Castagna — began by involving management. Over the course of about a year, we engaged more than 1,800 managers through 44 workshops.

So respect is perhaps the value you give the most weight to — including respect for personal dignity. How does this translate into everyday relationships among colleagues?
Ciocca: During the #Respect workshops, we focused on the key relational areas within the company — not only the bank–client relationship, but also peer-to-peer relations, relationships between managers and their teams, between the Commercial Network and Headquarters, and between men and women. From this extensive work came Banco BPM’s definition of respect: “recognition of others for who they are, in their uniqueness and their potential for individual affirmation and fulfillment.” We are unique, we are different — and recognizing that is the value. From the reflections and contributions of our managers, we created a document we call the Commitment Manifesto, identifying five key words that define our approach: listening, empathy, reciprocity, cooperation, and appreciation. These are linked to seven simple everyday behaviors designed to turn words into action.

What achievements are you most proud of so far?
Ciocca: Undoubtedly, the high level of participation and the positive feedback from our people. To promote the culture of respect and the inclusive behaviors outlined in the Commitment Manifesto, in 2023 we launched two innovative and engaging initiatives: Radio Respect, a radio format that involved almost 13,000 employees; and Respect Space Gaming, a digital training platform where colleagues interacted with avatars to practice respectful behaviors. We strive to involve as many people as possible so that the key concepts of the Commitment Manifesto — through active respect — become a distinctive part of who we are as a bank. Since October 2024, we have also launched the #RespectTour, a traveling cultural initiative aimed at reaching colleagues throughout Italy. It’s a values-driven journey that encourages people to collaborate, generate new ideas, and identify actions and initiatives that promote increasingly respectful behaviors in daily life and strengthen the bank’s positioning. When we focus on values, brand reputation naturally benefits. Our goal is to be a distinctive, inclusive bank that interacts with all stakeholders through an identity built on the value of respect. We’re now at the ninth stage of the tour, and we’ve already seen a strong sense of belonging, cooperation beyond hierarchies, roles, and functions, and a genuine desire to embrace shared values across the company. This is essential not only for new generations joining the bank but also for those, like me, who want to leave a positive legacy. At Banco BPM, we all feel the desire to build a unique organization — one that motivates those who are already part of it to stay, and welcomes newcomers into a workplace where they can truly feel well.

How does Banco BPM apply the concept of respect to address and prevent cases of discrimination or harassment?
Speziotto: We recently updated our anti-harassment policy to make it even more effective in protecting people. We believe it’s essential to take the time to listen, understand, and intervene in the best possible way to safeguard those involved — and the organization as a whole. We must commit to simple but consistent behaviors so they become genuine habits that foster an environment that’s not only inclusive, but also safe and welcoming — where people feel valued and recognized. Because when people feel well, they work better, companies perform better, and they become more sustainable.

What are your future plans?
Speziotto: Based on the insights and ideas gathered during the first stages of the program, we’ll shape the future of this project with new formats, extending the #RespectTour to our external stakeholders — for example, through our foundations, working with local associations and schools, and involving clients through our business teams. We strongly believe that the world thrives on positive exchanges, and that leading by example helps create a virtuous network. We are people of the Banco BPM Group, and we want to build our company together.