For now, the old guard is winning and the regent Giuseppe Coppini becomes chairman of the supervisory board with the support of Fisac-Cgil but left to give new governance to Banca Popolare di Milano (Bpm) and make it a normal bank, as the president would like of the board and main shareholder Andrea Bonomi, remains open. Coppini in fact collected 953 votes at the meeting, just 50 more than those received by Piero Lonardi, leader of non-employee shareholders.
The divisions between the internal unions (the Uilca voted for Maurizio Cavallari who collected 153 votes) and the pressure from the Bank of Italy, which has just completed its inspection, open up new spaces for Bonomi's renewal initiative, even if the head of the Investindustrial fund failed to elect ex-minister Giovanni Maria Flick to the presidency (who however got 516 votes) and has now had to give up the transformation of the popular bank into a joint stock company.
However, the assembly voted for the 500 million bond capital increase after the go-ahead, supported by Bonomi, with which the Tremonti bonds will be repaid in advance as soon as the go-ahead from the Bank of Italy arrives.
