July 17, 2018 / 6:11 AM / a month ago

Carige CEO to remain if he can press on with plan agreed with ECB - paper

MILAN, July 17 (Reuters) - Paolo Fiorentino, Carige CEO, told daily Il Sole 24 Ore he would remain at the helm of the Italian bank only if he could press on with a restructuring plan agreed with the European Central Bank, which foresees a merger in a reasonable time.

Genoa-based Carige has been dogged by governance issues which investment bankers say complicates its search for a merger partner.

The bank’s top shareholder and Deputy Chairman Vittorio Malacalza had resigned on Monday as director due to ongoing disagreements with the board over the management of the lender and its governance.

Reporting by Francesca Landini

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