Gianni Mion president, Salvatore Bragantini vice president, Francesco Iorio confirmed CEO. These are the new top management of Banca Popolare di Vicenza who will be proposed to the extraordinary shareholders' meeting on 7 July by Quaestio Sgr, manager of the Atlante fund, which in turn controls 99,33% of the bank's capital. The list for the board, composed "for the first time in an Italian bank" in compliance with the "fit and proper" requirements established by the EU Directive CRD4 - reads a note -, not yet implemented by our legal system, also includes Niccolò Abriani, Luigi Arturo Bianchi, Marco Bolgiani, Carlo Carraro, Rosa Cipriotti, Massimo Ferrari, Francesco Micheli and Alessandro Pansa, the only confirmed member of the outgoing board. For the board of statutory auditors, Quaestio indicates Rosalba Casiraghi (president), Nadia Fontana and Marco Giorgino.
The number of directors of Popolare di Vicenza will therefore drop to 11 from the current 18 "in order to ensure efficient functioning of the board itself". As for the "fit and proper" requirements, followed by Quaestio for the choice of directors, the asset management company underlines that "they are more stringent than the legislation currently in force in Italy, in particular with regard to the evaluation of professionalism criteria, the complementarity of professionalism, also for the functionality of the committees, the availability of time and the accumulation of offices, the full disclosure on the professional background, the managerial and complexity management skills. In addition, all the members of the proposed corporate bodies are independent of Quaestio and the investors in the Atlante fund". For the composition of the board and the "fit and proper" analysis, the note concludes, "Quaestio made use of the assistance of Spencer Stuart and Orrick, Herrington & Sutcliffe".
Quaestio then announced that he "will ask the new board of directors" of Banca Popolare di Vicenza "to initiate all the necessary steps for a liability action against those who have been guilty of the bank's collapse".
Furthermore, Quaestio will propose to the assembly "an overall emolument for the Board which will be halved compared to the current one". The asset management company also announces that it has "started studying the appropriate methods so that the historical shareholders, who have been seriously damaged, can benefit fairly from the hoped-for relaunch of their bank".
Finally, Quaestio will submit to the new Board of Directors of Banca Popolare di Vicenza, "immediately after taking office, proposals in order to facilitate the resolution of the problem of non-performing loans to strengthen the bank and accelerate its recovery and relaunch".
