Bpm, Nicola Rossi new president of the CDS. Castagna: “BPM-Tour, potential aggregator ‘- Il Sole 24 Ore

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This article was published April 30, 2016 at 11:42.
the last change is the April 30, 2016 at 16:48.

Nicola Rossi is the new president of the Banca Popolare di Milano Supervisory Board. He was elected at the general meeting of shareholders that was held in Rho. His list won preferences 3356, against 276 the number 1 list and the 1231 votes of Piero Lonardi list, the other contender for the presidency.

They come into advice for the list of Rossi, Mauro Paoloni and Marcello Priori (Vice-Presidents), Alberto Balestreri, Angelo Busani, Maria Luisa Mosconi, Carlo Pellegrini Bellavite, Paola Galbiati, Manuela Soffientini, Daniela Venanzi, Emanuele Cusa . N the list. 3 enter Piero Lonardi, Roberto Fusilli, Mariella Piantoni and Mara Bergamaschi Barbara. Finally, to the list 3 of the fund Athena Capital, Max Catizone and Ezio Simonelli.

Confirm thus the expectations of the vigil. In pole position to win over the majority of the board it was just the plank economist Rossi, backed by the national trade unions and pensionati.L’altro candidate at the summit was the accountant Piero Lonardi, historical representative of the non-employee shareholders, who at eve of the vote has appealed to the vote as “the last chance to preserve the prestige and position of the bank and of its people.”

In his opening speech, the managing director Giuseppe Castagna stressed that the future entity that will be born from the aggregation with Banco Popolare – the third banking hub behind Intesa and UniCredit – will have a market capitalization of more than 6 billion, thus breaking away from the other banks, whose overall values ​​in the stock market are less than 3 billion. It’s up to these banks, reasons Castagna, “the honor and the burden” to evaluate “how to move forward in the future, if you tag along with each other or to consider the third pole as aggregator potential.”

manager then recalled the guidelines that inspired the merger agreement with the Veronese bank, intended to take shape in November. “We aim to make a transaction with a larger bank of us – said the manager – because since we are growing strongly, and wanting to make a merger of equals, we had to have a great partner.” After pointing out that BPM has explored “all the possibilities” in view of a merger, the choice then fell on the Tour, with which BPM will be present “in 80% in the richest regions of Italy and Europe.” With the new capital increase by one billion of the Scala (the approval of shareholders is scheduled for next Saturday), a condition that is “fundamental to the merger ‘, also the’ capital position will come in line with the best Italian banks.”

Critics compared the operation of merger came instead from the outgoing presidene of CDS, Piero Giarda, according to which “the nascent bank does not have the characteristics to be the couple of the year.” Although, he acknowledged the former minister, “the alternative would not have been much better.” Piero Lonardi for the operation with Banco, if made, must be “really equal” under the governance profile.

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