Maurizio Tamagnini, formerly a top investment banker at Merrill Lynch, has been hired as chief executive of the Italian Strategic Fund SpA, state-controlled lender Cassa Depositi e Prestiti said Monday.

Tamagnini organized more than 100 merger-and-acquisition deals during a 21-year career at Merrill Lynch, now a unit of Bank of America Corp. (BAC), where he was in charge of southern Europe.

Cassa Depositi e Prestiti, which is majority controlled by the government, set up the Italian Strategic Fund at the request of Economy Minister Giulio Tremonti to emulate a similar fund in France and take significant equity stakes in larger companies. It was conceived after French dairy group Lactalis made its ultimately successful takeover bid for Parmalat SpA (PLT.MI) earlier this year.

-By Christopher Emsden, Dow Jones Newswires; +39 348 861 9789; chris.emsden@dowjones.com

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