Mps, towards the confirmation of the CEO Lovaglio and the appointment of Maione as president-Corriere.it

Expected reconfirmation, and no alternative names passed on government tables, for the CEO Luigi Lovaglio. And Nicola Maione towards the presidency, a candidacy supported by Matteo Salvini and the whole League. The lists of the Mef, a shareholder with 64.2% of Monte dei Paschi di Siena, as well as that of the Foundations, are expected for Saturday evening and Sunday 26, the last day for filing the names of the candidates in view of the meeting of the April 20 that he will have to elect the new MPS board. The new governance of the institute must be read within a wave of renewals that affects many Treasury subsidiaries – the Siena board is the first to be renewed – and will be a key step in the path of Mps which, after the increase of capital of 2.5 billion and the reorganisation, destined for an aggregation in the banking world. According to the layout designed by the CEO Luigi Lovaglio, who guided the bank through a new business plan. The stock suffered the wave of declines on the market triggered by the collapse of Deutsche Bank on the Stock Exchange.

Institutional investors

For the president’s box, the cassation lawyer Maione, former independent director of the MPS board, appears increasingly in pole position. The game is still open for the remaining eleven board members that the Mef has not yet defined. The dicastery led by Minister Giancarlo Giorgetti is entitled to another ten seats on the board (12 including the CEO and the president) out of a total of 15, the maximum envisaged for the Siena board. Two are then destined for the Management Committee which yesterday, Thursday 23 March, presented the minority list with the confirmation of the candidates already indicated three years ago. In fact, Marco Giorgino, Paola De Martini and Alessandra Giuseppina Barzaghi have candidates for the board of directors. For the board of statutory auditors, the statutory auditor Enrico Ciai and the alternate Piera Vitali. This is the choice of the Committee which represents 2.3% of the capital of MPS and collects the indications of asset management companies and funds such as Anima sgr, Arca Fondi, BancoPosta Fondi, Etica, Eurizon Capital, Fidelity Funds, Fideuram Asset Management (Ireland), Fideuram Intesa Sanpaolo private banking asset management.

The role of foundations

Meanwhile, the minority shareholder foundations of Monte dei Paschi are working to define a minority list – with four candidates for a seat on the board of directors – in view of the meeting which will not be chaired by Patrizia Grieco who will leave Rocca Salimbeni from 26 March and destined to assume the chairmanship of Anima holding. In the control room is the Mps Foundation which, on the occasion of the recapitalization last autumn, rounded up its share in the transferee bank which had by now become symbolic. Above all, the other Tuscan foundations are involved such as Cassa Firenze, which together had invested 30 million in the recapitalization, supported by Fondazione Cariplo, Compagnia di Sanpaolo (10 million each), Crt, Cariparo, Cuneo, Forl and Sardegna, each with 5 million. Inarcassa, already a shareholder of Mps and who invested 15 million during the increase, will not present lists and should not join others.

Figures at the top

If everything is confirmed, therefore, it is a council that does not see a female figure in the role of president after the era of Patrizia Grieco and before her of Stefania Bariatti, not reconfirmed in 2020. Francesca Betto and Rita Laura D’Ecclesia are the two vice-presidents on the outgoing board. In recent weeks I had been circulated as possible candidates for the presidency, as an alternative to Maione, Marta Asquasciati (Iren) and Barbara Lilla Boschetti (Fnm).
The general secretary of Fabi, Lando Maria Sileoni, also made himself heard on the future of MPS on the sidelines of the provincial congress in Turin: of the state. At the moment there are no banks or funds intending to buy it. All the main groups are interested in the stew, but on one condition, that they choose the counters, that’s easy.