The Board of Directors of Bpm bank has launched a review of the organizational structure which no longer provides for the figure of the General Manager. The co-managing directors are confirmed, while the figures of the chief lending officer are introduced (Clo) and the chief financial officer (cfo). The two positions have been attributed respectively to Carl Bianchi and Edward Guinevere. The decision, communicated by the Bank in a note, came after the farewell of the former general manager of Banco Bpm, Maurizio Faroni.
In particular, the lender still explains, the Clo he is called upon to oversee credit positions, from granting to management, for the entire Group portfolio and is also assigned responsibilities for leasing activities.
Il cfo on the other hand, it has overall supervision in matters of finance, planning and management control, administration and budget, equity investments, as well as the responsibility for defining the management strategies of the key budget items.
The rating agency Moody's confirmed the long-term rating on Banco Bpm's senior debt at "Ba2 (Negative)", instead raising that on deposits to "Baa3 (Stable)" from "Ba1 (Stable)", 'all' therefore within the investment grade category'. The institute made it known in a note. Moody's has also improved Banco Bpm's baseline credit assessment by one step, 'rating which analyzes the bank's financial profile in its operating context, bringing it from “b1” to “ba3″'.
