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Banca Monte dei Paschi Reiterates Confidence in CEO Amid Milan Prosecutors' Probe

MT Newswires·12/07/2025 23:24:02
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11:24 PM EST, 12/07/2025 (MT Newswires) -- Italian lender Banca Monte dei Paschi di Siena's (BMPS.MI) board reaffirmed its full confidence in Chief Executive Officer Luigi Lovaglio following an in-depth assessment of his regulatory compliance. The evaluation confirmed that Lovaglio meets the standards of correctness set out under Italy's Ministerial Decree 169/2020 and European Central Bank guidelines for bank executives, according to a Dec. 5 release. The statement comes as the Milan Public Prosecutor's Office investigates allegations that Lovaglio was involved in the obstruction of supervisory functions and market manipulation.