(ANSA) - Rome, January 12 - A new Monte dei Paschi di Siena
(MPS) board will be named after the precautional
recapitalisation of the troubled Tuscan lender with State funds,
Economy Minister Pier Carlo Padoan said Thursday. The primary
goal of the new management team will be to implement a
restructuring plan, he told parliament on the government's
20-billion-euro 'save-savings' decree. Padoan added: "The MPS
management, which has shown willingness to tender its
resignation, enjoys the government's confidence". MPS is
undergoing a State-sponsored turnaround after coming last in
European stress tests because of its heavy load of
non-performing loans (NPls).
New MPS board after State entry (2)
Confidence in managers