Premier nominates vet banking exec
ROME — Veteran banking and finance manager Paolo Baratta was nominated Wednesday by Italy’s deputy premier, Walter Veltroni, as president of the Venice Biennale during its crucial transition from a bureaucracy-laden cultural institution to a more efficient, partially privatized company.
The Italian Parliament gave its approval on Feb. 11 for the structural reforms of the Biennale, which controls the Venice Intl. Film Festival and other arts events.
Operating now as a cultural foundation rather than a state-run body, the organization’s doors will be opened to private investment of up to 40%, and its board will be streamlined from 19 to five members in an aim to reduce the Biennale’s infamously laborious bureaucratic mechanisms.