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Veneto Banca: surprise turnaround, the list of members wins

Sensational turnaround at the Veneto Banca meeting, where the list presented by the shareholders' associations obtained 57,9% of the votes clearly beating that of the board led by the outgoing president Bolla which received 37,2% – Stefano Ambrosini new president: “It would be foolish to give up Atlas”

Veneto Banca: surprise turnaround, the list of members wins

A twist at the Veneto Banca meeting, where the list presented by the shareholders' associations surprisingly outclassed that of the outgoing board, winning 57,9% of the votes against 37,2% of the list led by the outgoing chairman Pierluigi Bolla. Stefano Ambrosini thus becomes the new president and Cristiano Carrus loses his CEO position and remains general manager of the bank.

A few minutes after the announcement, the new president Ambrosini said in front of the meeting: "We are supervised under special supervision by the supervisory authorities and therefore we really need to start building a path that reassures the markets and is in full compliance with the indications of the supervisory authorities . We roll up our sleeves and try to generate fewer losses than those made in the first quarter of 2016, which are not very few”.

The line correction on the Atlante Fund was important, which the outgoing president Bolla had argued was unnecessary in view of the capital increase. “I have always said – declared Ambrosini instead – that it seemed to me hasty to say that there is no need for Atlas. Let's wait to see if Atlante's intervention will be useful or not but o I consider Atlante a very good solution and it's silly to give up opening a parachute when you have it in the plane. In recent weeks many entrepreneurs had told me that if we had won, they would have subscribed to the capital increase and others came to tell me after the victory”.

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