January 21, 2020 / 7:42 PM / a month ago

Banco BPM board picks Massimo Tononi as new Chairman

MILAN, Jan 21 (Reuters) - Banco BPM will propose the former head of Italian state lender CDP Massimo Tononi as new Chairman, the third-largest Italian bank said on Tuesday.

Tononi - a former Goldman Sachs banker and Banca Monte dei Paschi dei Siena Chairman - will replace the current Banco BPM Chairman Carlo Fratta Pasini, who earlier this month announced he was not running for another mandate.

The list of candidates set by Banco BPM board also includes Giuseppe Castagna who will be confirmed as CEO.

It will be the first Banco BPM board to be appointed by a shareholder meeting in which investors will vote according to the size of their stake.

Reporting by Andrea Mandalà; editing by

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