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Luca Pancaldi

Senior Partner, Milan

Brings deep expertise in strategy, risk management, and commercial transformation to financial institutions around the world


Luca is a leader of McKinsey’s banking, insurance, and risk-management work and has served clients across Asia and Europe. Based in Milan, he currently leads the firm’s risk-management work in the European Mediterranean area and coleads enterprise-risk-management projects globally, with a strong focus on strategy, risk, and governance.

Luca advises banks, insurers, and other financial institutions on a wide range of issues, such as commercial-performance acceleration, advanced analytics, and digital, across multiple business areas, including retail banking, wealth management, life insurance, private banking, corporate banking, and investment banking.

Examples of his recent client work include the following:

  • developing a three-year strategic plan for a large European bank
  • assessing a private bank’s opportunity for entering a new geography
  • developing a growth strategy for a leading, global, insurance and asset-management company
  • redesigning the three-lines-of-defense system for a Southern Europe bank

Published Work

The resilience imperative: Succeeding in uncertain times,” McKinsey & Company, May 2021

Making a Step Change in Risk Efficiency and Effectiveness,” The European Financial Review, August/September, 2019

The future of risk management in the digital era, McKinsey & Company, December 2017

Transforming enterprise risk management for value in the insurance industry,” McKinsey & Company, July 2016 



Politecnico di Milano
BS, management engineering