MILAN, March 1 Troubled Italian bank Monte dei
Paschi di Siena is seeking damages from two former
executives and investment banks Nomura and Deutsche
Bank over derivatives trades losses.
The Tuscan bank, Italy's third-biggest, suffered losses of
around 730 million euros ($954 million) from a number of
structured finance deals carried out under former Chairman
Giuseppe Mussari and former Director General Antonio Vigni.
The two most problematic trades are a restructuring of notes
called Alexandria, which was carried out with Nomura in 2009,
and the restructuring of a vehicle known as Santorini carried
out with Deutsche Bank at the end of 2008.
Monte dei Paschi said it had launched the legal action with
the civil court in the Tuscan city of Florence on Friday.
The world's oldest bank, Monte dei Paschi has been at the
centre of a financial and political storm that has raised
questions about the role of banking supervisors and also local
politicians in the run-up to elections last week.
The bank aid on Thursday it had received a four billion euro
state bailout needed to boost its capital base.
Mussari and Vigni have already been placed under
investigation by prosectuors examining the bank's affairs.
($1 = 0.7649 euros)
(Reporting By Lisa Jucca; editing by Keith Weir)