Mps, the president’s step back. Grieco: unavailable for a new mandate

In the near future of Montepaschi there will be no president Patrizia Grieco. The president, during a board meeting, announced that she had informed the Ministry of Economy and Finance of her unavailability for the renewal of the office due to expire with the next budget meeting. «It was a very intense human and professional experience culminating with the success of the capital increase – said Grieco, according to a note – I therefore thank all my colleagues, the managing director Luigi Lovaglio, the management and the board of administration who have done an extraordinary job in very complex and challenging years”.

If the bank’s future remains an unknown, Andrea Orcel, CEO of the former betrothed Unicredit, said that the first indications of the restructuring are positive. «Mps has a new CEO and a new plan, it has raised capital and needs a minimum of time to put its accounts in order 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.”