Patrizia Grieco leaves Mps. The merry-go-round of appointments in large public subsidiaries has come alive and just a few hours after the designation of Riccardo Barbieri to the general management of the Treasury, the president of Banca Monte Dei Paschi di Siena, Patrizia Grieco, communicates the unavailability for the renewal of the assignment due to expire with the next budget meeting. Bombshell news but not entirely surprising.
The decision was communicated during the last board of directors meeting, where Grieco - appointed president by the Mef (64% shareholder) in 2020 - declared that he had informed the Mef of his unavailability for the renewal of the office which expires with the next budget assembly. “It was a very intense human and professional experience”, she reads in a note, “culminating with the success of the capital increase. I therefore thank all my colleagues, the managing director, Louis Lovaglio, the management and the board of directors who have done an extraordinary job in very complex and challenging years”, said Patrizia Grieco.
Grieco leaves Mps: board renewal in April
Banca Mps will renew the Board of Directors on 20 April 2023. In the coming weeks, the Treasury will be invited to file a list of candidates for the new board with a new president and a chief executive officer, currently Lovaglio (from 2022). And all eyes are on the director of the plan and capital strengthening. A choice that will hardly be abandoned so soon, especially after the success of thecapital increase.
Meloni on Mps: "Very difficult situation"
The premier Giorgia Meloni he underlined the need to "foster a banking system that does not repeat the mistakes of the past" and confirmed that the Government is "at work on the Monte dei Paschi di Siena dossier. A very difficult situation,” Meloni remarked in her end-of-year speech.
Mps-Unicredit, Orcel: "We'll see in the future"
The future of the bank remains unknown. Andrea Orcell, CEO of the former betrothed Unicredit, hinted in an interview that the hypothesis of the acquisition of the Sienese bank could be re-evaluated in the future, after the failure of the negotiations in 2021. "Mps has a new CEO and a new plan , has raised capital and needs a minimum of time to clean up and restructure. The first indications are positive, many of the things that have been done are what we thought needed to be done. We will see in the future”.
