The board of directors of Monte dei Paschi di Siena Bank confirms the recommendation of the bank's Nomination Committee and marks a significant shift in governance, paving the way for a profound managerial overhaul, while maintaining continuity in the presidency. The board meeting yesterday evening approved the list of candidates to serve on the board for the next three years, which will be submitted to the crucial meeting on April 15th.
The list, as already announced, does not include the name of the CEO. Louis Lovaglio, a key player in the bank's relaunch but at the center, in recent weeks, of a heated internal debate within the board as well as an investigation by the Milan Public Prosecutor's Office. Continuity will therefore be represented by candidacy for the presidency of the current number one Nicola Maione, a historic figure on the Siena board who in recent weeks has managed the dialogue with the major shareholders and with the European Central Bank during the delicate phase of defining the new governance.
Three profiles are listed on the board of directors' list as possible candidates to lead MPS's next phase, which includes the integration with Mediobanca, in the role of CEO. The top candidate appears to be Fabrizio Palermo, CEO of Acea, whose term expires next spring, and former head of Cassa Depositi e Prestiti. Alongside him appears a prestigious figure: the banker and former minister Corrado Passera, founder of illimity Bank – later acquired by Banca Ifis – and previously at the helm of groups such as Intesa Sanpaolo and Poste Italiane. Completing the shortlist of possible candidates for the CEO role is Charles Vivaldi, a long-time manager with extensive international experience gained at UniCredit.
