Donald Trump has been elected as the 45th president of the United States and while congratulatory messages are pouring in from across the globe, banks and financial institutions across the world are scrambling to understand what it means for them.
"The main point is that this stops uncertainty so now we have a president and we have to deal with the situation and in reality U.S. is a country of big institutional investors, big pension funds," Carlo Messina, CEO of Intesa Sanpaolo told CNBC Wednesday.
"At the end, from a macro point of view, you can have a devaluation of the dollar and the postponement of the U.S. interest rate hike from Federal Reserve."
Intesa's Messina further explained that from a trade point of view there were still some points that need to be checked and markets will be watching if Trump will maintain what he told during the campaign. "In reality it is not in the interest of the U.S. to take a different position on trade. You may force infrastructure, investment within the country but maintaining a fair relation with other countries is also very important."