The old guard of Chiantibanca, the largest CCB in Tuscany, which ended up under accusation for having caused a loss of 90 million in 2016, has reversed the situation by sending the innovative list led by the outgoing president, Lorenzo Bini Smaghi, a former member of the board, into the minority of the ECB.
In the assembly the old guard, taking advantage of the "one man, one vote" rule, garnered 54% of the votes with a difference of 400 votes. Chiantibanca, which had renounced its initial intention to become a joint-stock company due to the critical remarks presented by the Bank of Italy, nevertheless confirmed its membership of the Cassa Centrale Banca promoted by the Trentino Bccs as an alternative to the Federcasse's Iccrea.
Bini Smaghi, who is also chairman of Société Générale and Italgas and who has contributed to bringing to light past cases of mismanagement, took it politely: “I will remain a partner, I have always been. In any case, the path has been traced, cooperation works like this”.
