Latest News for BMDPF
The vote, defying the recommendation of the departing board, caps weeks of turmoil at Italy's newly minted third-largest banking group.
Shareholders in Monte dei Paschi di Siena vote on Wednesday to decide a boardroom battle pitting ousted boss Luigi Lovaglio against a rival CEO candidate picked by the bank's outgoing directors, Fabrizio Palermo.
BlackRock , the world's biggest asset manager and the third largest investor in Monte dei Paschi di Siena , has decided to back a proposal by a dissident investor to hand ousted Chief Executive Luigi Lovaglio a new mandate, ANSA news agency reported on Monday.
A reform billed as making Italy's capital markets more attractive is instead unnerving investors, with Monte dei Paschi di Siena becoming the first company to test new board-nomination rules that critics say are opaque and destabilising.
The board suspended Chief Executive Luigi Lovaglio from his duties after a minority shareholder proposed him for another mandate defying the board's plan to appoint a new head.
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