Shares in the troubled Tuscan
lender Monte dei Paschi di Siena (MPS) bank rose by 3.8% to 0.23
euros per share on morning trading on the Milan stock exchange
on Thursday following Wednesday's nomination of Marco Morelli as
CEO and director-general, effective from September 20.
Morelli, the current head of Bofa Merrill Lynch Italia,
replaces Fabrizio Viola who stepped down as CEO September 8.
The markets also reacted positively to the resignation
Wednesday of MPS President Massimo Tononi, effective as of an
upcoming shareholders' meeting to approve an industrial plan
presented July 29.
Former economy minister Vittorio Grilli and banker and
former industry and infrastructure minister Corrado Passera are
among the names reported to be circulating as a replacement.
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