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Ethics and Compliance

Our approach to ethics

Angelini Holding believes it is necessary to guarantee, promote and consolidate a culture distinguished by decency, integrity and transparency when conducting its activities and with respect to all its stakeholders.

Angelini Holding operates in compliance with rules and regulations, and takes actions to ensure that its entire organisation is committed in this regard. All employees are required to act with integrity in all aspects of their work, and to expect the same from whoever they interact with inside and outside the organisation.

The ethical standards of Angelini Holding demand that we do what is morally correct and responsible when conducting our business, without comprising the moral principles of honesty, legality and compliance, loyalty, reliability, mutual respect and dignity and transparency.

Two important documents adopted by Angelini Holding relate to these basic principles: The Organisation, Management and Control Model, and the Code of Ethics and Conduct.

Organisation, Management and Control Model


Angelini Holding and the companies of the Angelini Group have adopted and effectively implemented an “Organisation, Management and Control Model”.
The Model was prepared based on Italian Legislative Decree 231/2001, guidelines issued by industry organisations as well as specific initiatives already implemented by the Group within its internal audit and risk management systems.
The Model lays out the procedural directives that must be followed during all decision-making and operational stages of business processes. This not only guarantees the proper functioning but also the trustworthiness of management and the Group’s corporate image.

Code of Ethics and Conduct

Angelini Holding has a “Code of Ethics and Conduct” that is complementary to the Organisation, Management and Control Model, of which it is an integral part.
The series of ethical principles and values stipulated in the Code must distinguish the activities of everyone working at Angelini Holding, bearing in mind the importance of their roles, the complexity of their functions and the responsibilities entrusted to them in order to achieve the Group’s objectives.