After the transfer of Piero Montani to Banca Carige, the appointment of the new managing director of Banca Popolare di Milano is complicated. The rumors have been talking about for days Joseph Chestnut as a candidate in pole position, but it seems that the manager has set some conditions to accept the job.
During a summit with Giuseppe Coppini, chairman of the supervisory board of Bpm, Castagna would have asked the early renewal of the management boardpossibly for three years, or in any case for a period exceeding the six months remaining in the current mandate.
Furthermore, Castagna does not intend to present the business plan developed by his predecessor and therefore asks to be able to hand over the document. Bpm has announced the go-ahead for the plan for 12 November, but – with Castagna's arrival – the time frame could lengthen by about a month.
In the early afternoon, the BPM stock dropped 1,8%.
