Banca Monte dei Paschi di Siena SpA, the bailed-out Italian bank, will delay a 3 billion-euro ($4.1 billion) stock sale until at least May from the first quarter after its biggest shareholder demanded a postponement.
UniCredit SpA appointed Deputy Chief Executive Officer Roberto Nicastro to a new position of general manager in an attempt to smooth relations with investors, while Sergio Ermotti , head of the investment bank, decided to step down after the management shakeup.
The management shakeup at UniCredit SpA, Italy’s largest bank, may serve to increase the influence of Italy’s banking foundations, institutions that trace their roots to the 17th century, and curb its international growth.
Alessandro Profumo , who built UniCredit SpA into Italy’s largest bank during 13 years as chief executive officer, may step down at a board meeting today after losing the support of some investors, said two people with knowledge of the matter.
UniCredit SpA Chief Executive Officer Federico Ghizzoni may propose the appointment of two general managers in an attempt to smooth relations with investors, two people with direct knowledge of the matter said.
UniCredit SpA ’s board may choose an internal candidate to replace Alessandro Profumo as chief executive officer, and create a general manager role to share duties, two people with knowledge of the matter said.
Federico Ghizzoni , appointed chief executive officer of UniCredit SpA yesterday, will review the bank’s strategy in central and eastern Europe, boosting investments in Russia, Turkey, Poland and the Czech Republic.
UniCredit SpA Chief Executive Officer Alessandro Profumo stepped down, ending his 13-year tenure as head of Italy’s largest bank, after clashing with shareholders over Libyan investments in the company.