The new CEO of Banca Carige is Paolo Fiorentino, former chief operating officer of Unicredit. The appointment was decided on Wednesday by the Ligurian institute's board of directors. Three new directors also join the board: Stefano Lunardi, Ilaria Queirolo and Francesca Balzani.
Fiorentino has been entrusted with the powers that had belonged to Guido Bastianini, the CEO disheartened last June 9 by the Board at the request of Vittorio Malacalza, the reference shareholder and vice president of the Bank.
According to sources close to the dossier, the origin of the clash between Bastianini and Malacalza was allegedly the debt-equity swap transaction hypothesized for subordinated bonds with the aim of filling part of the capital deficit (estimated by the ECB at 450 million euros, but which could rise to 600 according to some more recent hypotheses).
Meanwhile, the hypothesis of a request for an extension to the ECB to present the bank's relaunch plan (on governance, recapitalization and non-performing loans) is making headway. At the moment, the deadline remains set for tomorrow, June 23rd.
