In details, the resignation is related to the role of president of Euklid Ltd., co director of Euklid Fund SARL and Manager of Euklid Feeder Fund S.A.SiCAV in Luxembourg Lussemburgo.
According to a press release, the departure request is due to important public commitments in Italy.
Prof. Savona (born 6 October 1936, Cagliari, Italy), an economist and university professor, is considered the front-runner to become Italy’s Finance Minister. He already served as industry minister a quarter of a century ago in the technocrat cabinet led by late Carlo Azeglio Ciampi.
Savona is to be replaced by Elio Stocchi, current CFO of the company, and Chief Executive Officer and Gas & Power algo trader of Energy MC, a consultancy firm based in Rome, he co-founded in early 2013.
Led by CEO Antonio Simeone, Euklid is a fintech company that uses Artificial Intelligence to offer a new way to manage savings and investments through thousands of objective, blockchain-based, transparent and secure, algorithms.
Authorised by the UK FCA, the company has developed algorithms specifically trained to recognize conservative and innovative behaviours, selecting from chaos and randomness, catching the result of mutual dynamic interaction and based on biocomputing, which allows to perform calculations involving the storing, retrieving, and processing of data.
According to the company’s website, the optimization process is ensured by Swarm Intelligence, which catches the logic of info moving in a disordered way, Neural Networks, which interconnect information through artificial neurons and process utilizing a linked calculation approach, and Genetic Logic, an adaptive system that changes its structure based on external or internal info flowing through the net during its learning process.