(Alliance News) - In a cinematic turn of events, Luigi Lovaglio has returned to the helm of Banca Monte dei Paschi di Siena, despite having been excluded from the outgoing board's slate and even dismissed.
As reported by Corriere della Sera on Monday, the shareholders' meeting overturned the situation, rewarding him with a new three-year mandate.
His initial exclusion, linked to friction with key shareholders such as Caltagirone, triggered an unprecedented series of events: suspension, an alternative candidacy, and ultimately his dismissal. However, the April 15 vote marked a turning point, bolstered by support from major funds and Delfin.
The newly formed board must now convene to appoint officers as the bank faces critical deadlines, including first-quarter results in May and a substantial dividend payout. Furthermore, the Milan Prosecutor's Office investigation into the Mediobanca transaction remains a lingering uncertainty.
The strategic focus will center on the integration with Mediobanca, slated for completion by the end of 2026, alongside a restructuring of operations. In the background, potential banking consolidation scenarios persist, including a possible tie-up with Banco BPM.
Lovaglio thus restarts with the industrial plan, aiming to make up for lost time and solidify Monte's position within the Italian financial system.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
Comments and questions to redazione@alliancenews.com
Copyright 2026 Alliance News IS Italian Service Ltd. All rights reserved.
