Monte dei Paschi board says CEO meets good repute criteria
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Marco Morelli gestures during a meeting in Milan November 11, 2011. REUTERS/Imagoeconomica
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
SIENA (Reuters) - Italian bank Monte dei Paschi di Siena
Morelli was appointed in the top position of Italy's third biggest bank, which is seeking to raise up to 5 billion euros in fresh funds from investors to avert the risk of being wound down, on Sept 14.
Less than a week before the bank had abruptly announced that his predecessor Fabrizio Viola was stepping down.
Morelli, a former chief financial officer at the Tuscan bank, was fined by the Bank of Italy in 2013 for his alleged role in misleading regulators over the true nature of a hybrid financial instrument the bank used to partially fund its acquisition of regional rival Antonveneta.
He denies any wrongdoing, is appealing the fine and a judicial investigation against him over the same allegations has been dropped.
(Reporting by Silvia Ognibene, writing by Silvia Aloisi)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rite Aid (RAD)/Walgreens (WBA) Antitrust Concerns Doesn't Mean Deal is Dead, Says Deutsche Bank
- OPEC, non-OPEC producers meet to discuss compliance with oil cut deal
- Playing politics? Chinese tourism under scrutiny as Lunar New Year nears
Create E-mail Alert Related CategoriesReuters
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!