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Banca Monte dei Paschi di Siena SpA (BMPS.MI)

BMPS.MI on Milan Stock Exchange

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19 Jul 2019
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Summary

Name Age Since Current Position

Stefania Bariatti

62 2017 Chairperson

Marco Morelli

58 2016 Chief Executive Officer, General Manager

Antonino Turicchi

2017 Vice Chairman of the Board

Andrea Rovellini

2018 Chief Financial Officer, Senior Deputy General Manager

Vittorio Calvanico

2018 Chief Operating Officer

Leonardo Bellucci

2018 Chief Risk Officer

Riccardo Quagliana

Head of Group General Counsel

Giampiero Bergami

2018 Chief Commercial Officer - Deputy General Manager

Giovanni Ametrano

2018 Head of the Performing Loans Division

Maurizio Bai

2018 Head of Network Division

Ettore Carneade

2018 Head of Compliance Area

Pierfrancesco Cocco

Chief Audit Executive

Roberto Coita

47 2019 Chief Human Capital Officer

Eleonora Cola

Head of the Retail Division

Fabiano Fossali

2018 Head of the Corporate Division

Fabrizio Leandri

2016 Chief Lending Officer

Nicola Massimo Clarelli

2016 Chief Financial Reporting Officer

Ettore Minnella

Chief Operations Division

Marco Palocci

2016 Head of External & Institutional Relations Division

Lucia Savarese

Head of Non-Performing Loans Division

Federico Vitto

Head of Wealth Management Division

Maria Elena Costanza Bruna Cappello

2015 Independent Director

Salvatore Fernando Piazzolla

2017 Independent Director

Marco Giorgino

49 2017 Independent Director

Fiorella Kostoris

2015 Independent Director

Roberto Lancellotti

2017 Independent Director

Nicola Maione

47 2017 Independent Director

Stefania Petruccioli

51 2017 Independent Director

Angelo Riccaboni

2017 Independent Director

Michele Santoro

2017 Independent Director

Giorgio Valerio

52 2017 Independent Director

Roberta Casali

2018 Non-Executive Independent Director

Elisabetta Pozzi

2015 Head of Research & Investor Relations

Biographies

Name Description

Stefania Bariatti

Ms. Stefania Bariatti serves as Chairperson of the Company., since December 18, 2017. She is Independent Director of BANCA MONTE DEI PASCHI DI SIENA S.P.A. since April 16, 2015. Since 2002 she has been an ordinary law professor of international law at the faculty of jurisprudence at the University Of the Milan Studies, where she currently teaches international law, private international law And International Insolvency Law. From 1994 to 2002 she was professor of international law and European Union law and law European competition at the University of Sassari and the University of Milan. Since 2007 she has been a member of Chiomenti Studio Legale, where she has been in the position since 2013 Counsel Former Partner. Since 2014, she is a member of the UNIDROIT (International Organization for the Unification) Governing Council Of Private Law). She has assisted the European Parliament and the European Commission in drafting legislative instruments Of the Union and also held positions at international institutions, including the Conference The Hague of Private International Law as a representative of the Italian Government. Since 2013, she is a member of the board of ASTM S.p.A. And Chairman of the Board of Directors of SIAS S.p.A. She graduated in Law from Universita degli Studi di Milano.

Marco Morelli

Mr. Marco Morelli serves as Chief Executive Officer, General Manager at Banca Monte dei Paschi di Siena S.p.A. He is Chief Executive Officer, General Manager at the firm since September 20, 2016. He appointed as a member of the Board of Directors on November 24, 2016. He served as Deputy General Manager and Chief Financial Officer of Banca Monte dei Paschi di Siena SpA from June 2008 until February 11, 2002. He was also in charge of Corporate Banking Capital Market of the Company. Before joining the MPS Group, he worked for JPMorgan, UBS, Samuel Montagne and Kpmg. He has been Deputy Chief Executive Officer of Banca MPS since June 2006, in charge of Corporate Banking Capital Market. He was also the Managing Director of MPS Banca per l’Impresa, Mps Finance and Mps Capital Services Banca per le Imprese.

Antonino Turicchi

Mr. Antonino Turicchi serves as Vice Chairman of the Board of Banca Monte dei Paschi di Siena S.p.A. since December 21, 2017. He was Non-Independent director of Banca Monte dei Paschi di Siena S.p.A. from July 7, 2016. In 1994 he became Treasury Secretary's Officer, where in 1999 he became a senior executive and was appointed as Head of Public Debt to the Office responsible for securitization and financial transaction operations both on debt Domestic and international. From 2002 to 2009 he was General Manager of the Cassa Depositi e Prestiti, managing in 2003 the transformation into joint stock companies. From 2009 to 2011 he has been appointed Executive Director of the City of Rome, while from July 2011 to April 2016 he has served as the Country President for Italy of the Alstom Group. He is also a member of the Board of Directors of Alitalia - CAI (Italian Airline Company) S.p.A. And Autostrade per l'Italia S.p.A. From April 20, 2016 he has been appointed Director of Management VII - Finance and Privatization, within the Department of Treasury of the Ministry of Economy and Finance. He has previously been a member of Mediocredito del Friuli, Mediocredito of Rome and EUR S.p.A., as well as a member of the Supervisory Board of Numonyx and STMicroelectronics, where he has served as Chairman of the Supervisory Board. He graduated in Business Economics at the Universita degli Studi di Roma La Sapienza. He also holds a Master in Economics from the Universita degli Studi di Torino and a Master in International Finance and Foreign Trade.

Andrea Rovellini

Mr. Andrea Rovellini serves as Chief Financial Officer, Senior Deputy General Manager of the Company., since March 12, 2018. He earned a Degree in Economics & Business from the University of Parma. Having gained extensive experience within the Planning & Control, Administration and Internal Auditing Divisions of the Barilla Group, in 1990 Mr. Rovellini entered the banking industry by joining Banca Popolare di Milano (BPM), where he covered roles of increasing responsibility within the areas of Planning & Control and Risk Management. He was appointed Head of the Planning & Control and Risk Management Division in 2007. Between 2009 and 2012, Mr. Rovellini was Co-General Manager of Profamily S.p.A., a BPM start-up in the household lending sector, where he was responsible for Administration, IT, Operations and Human Resources. During his time at BPM, he was a member of the following Committees: Management, Business, Liquidity, ALM, Credit Polices and Cost Control. He also served on the Board of Directors of Anima SGR S.p.A. Mr. Rovellini joined BMPS in January 2013 and was appointed Chief Risk Officer until March 2018. Since the same date has been Chief Financial Officer. Mr. Rovellini is currently the Senior Deputy General Manager of the Bank. He also serves as: • Member of the Board of Directors of Banca Widiba SpA; • Member of the Board of Directors of AXA MPS Vita SpA; • Member of the Board of Directors of AXA MPS Danni SpA; • Member of the Board of Directors of Nuova Sorgenia Holding SpA;

Vittorio Calvanico

Mr. Vittorio Calvanico serves as Chief Operating Officer of the Company., since May 1, 2018. An Executive Manager of Banca Monte dei Paschi di Siena since 2001, Mr. Calvanico currently serves as Chief Operating Officer, responsible for organisation, purchasing and logistics, real estate, security, back office services as well as the outsourcing and monitoring of strategic projects. Within the bank, he previously held the positions of Chief Program and Cost Officer, Deputy CFO - Head of Planning and Chief Data Officer, as well as Head of “Strategy, M&A and Equity Investments”, “CFO Division Staff Unit” (responsible for Extraordinary Transactions), “Monetary Project”, “International Activities” and “Strategic Development”. As part of his duties, he is a permanent member of the Bank's Steering Committee and Risk Management Committee; he chairs the Operational Projects Committee and takes part in the Disciplinary Affairs Committee. He is also the Operational Manager in charge of Business Continuity & Crisis Management and chairs the Operational Session of the Business Continuity & Crisis Management Committee. He currently sits on the Board of Directors of the subsidiary MPS Capital Services and of the investee company Nomisma. In the past, he served on the Boards of several other subsidiaries (MP Venture, Banca 121, Intermonte, Consorzio Operativo di Gruppo, MPS Immobiliare) and investee companies (Consorzio Bancomat, SI Holding, Cartasi, Iconcard, MP Venture, Antonveneta Assicurazioni, Antonveneta Vita and Consorzio Triveneto). Before joining the Montepaschi Group, Mr. Calvanico provided strategic consulting services within McKinsey & Company's Financial Institutions sector and was responsible for training and professional development in Studio Ambrosetti. He holds degree in Business Administration from Universita Bocconi and an MBA from Yale University.

Leonardo Bellucci

Mr. Leonardo Bellucci has been Chief Risk Officer of the Company. He earned Ph.D. in Elementary Particle Physics from the University of Florence. Mr. Bellucci began his professional experience in 2002 in MPS Finance, where he took on the position of quantitative analyst. In July 2008, he was appointed Head of the Quants Staff Unit of MPS Capital Services and remained in this role until November 2009. He joined BMPS at the end of 2009 as Head of the Risk Management Service Unit, in charge of developing advanced internal models for market and counterparty risks as well as financial controls on trading units. He served in this role until 2014, when he moved on to subsequent roles of responsibility within the Chief Risk Officer Division. Mr. Bellucci has been Chief Risk Officer since 12 March 2018. As Chief Risk Officer, he is responsible for verifying capital adequacy and liquidity and ensuring the suitability and effectiveness of the Group's risk management system. He is in charge of Risk Monitoring and the Heads of the Anti-Money Laundering and Validation Functions report to him directly.

Riccardo Quagliana

Mr. Riccardo Quagliana serves as Head of Group General Counsel of the Company. Mr. Quagliana began to practice law with the firm of Freshfields Bruckhaus Deringer, specifically focusing on the areas of Corporate, Capital Markets and Finance from 1996 to 2002. From 2002 to 2004 he served as Deputy Head of the Equity Capital Markets Division of Banca IMI S.p.A. within the Sanpaolo-IMI Group, with key responsibilities including stock listings and capital increases. In 2004 he joined the Pirelli RE Group as senior manager and Head of Legal and Corporate Affairs for NonPerforming Loans and Real Estate for Pirelli & C. Real Estate S.p.A. Between 2010 and 2011 he worked at Bank of America Merrill Lynch as Director, acquiring further experience in the area of Non-Performing Loans. In 2011 he joined the Fondiaria SAI Group, where he was responsible for Corporate legai affairs in the areas of Finance, M&A, Real Estate and diversified Investments and was also a member of the Board of Directors of PopolareVita S.p.A. and Incontra Assicurazioni S.p.A. He joined BMPS in February 2013 as Head of Legal and Corporate Affairs. Mr. Quagliana currently serves as the Group's General Counsel. He also sits on the Board of Directors of Perimetro Gestione Proprietà Immobiliari S.C.P.A. In 2016 he was appointed Secretary of the Bank's Board of Directors. From 2014 to 2017 he also sit on the Board of Directors of Perimetro Gestione Proprietà Immobiliari S.C.P.A. and he currently holds the position of Vice Chairman of the Board of Directors of WIDIBA Bank S.p.A. and Member of MPS Capital Services S.p.A. Board of Directors, both companies of the Monte dei Paschi di Siena Group. He holds Law Degree from the University of Milan.

Giampiero Bergami

Mr. Giampiero Bergami serves Chief Commercial Officer - Deputy General Manager of Banca Monte dei Paschi di Siena S.p.A. effective May 1, 2018. He was Head of Corporate at Banca Monte dei Paschi di Siena S.p.A. until May 1, 2018. He began his professional career in 1994 at HSBC (London) as an Options Broker in the field of futures products. From 1996 to 1999 he held the position of Executive Director for Derivatives Lehman Brothers (London), deepening his knowledge of cash products, derivatives and cash interest rates, credit derivatives and structured products. From 1999 to 2002 he became CEO of Akros Securities Inc (New York), with the task of initiating and guiding the American branch of Banca Akros that dealt in the sale and structuring of derivative products to corporate customers. From 2002 to 2007, within the Montepaschi Group, first he held the position of Head of Corporate Finance Solutions for MPS Finance and subsequently to the Shopping Key Clients Department. Later enters the Unicredit Group, serving the function of the North Central Region Manager (2007-2015), and later became Head of the Mid-Corporate Investment Banking for Italy (2015-2016), coordinating the cross-selling of products investment banking on corporate customers of Unicredit Italian network. He graduated in Business Economics from Universita degli Studi di Bologna and Masters of Business Administration from Cornell University.

Giovanni Ametrano

Mr. Giovanni Ametrano has been Head of the Performing Loans Division of the Company. He earned Degree in Economics from the University of Cassino. Mr. Ametrano began his career in Banca Mps in 1986, covering the full range of roles within the branch network's commercial and credit area, with several experiences as branch manager. As of 2006, he was sales coordinator within the Small Business sector and later became responsible for a Corporate Centre. As of 2008, he served as Regional Retail and Corporate Director in various Areas of the Country. In 2014, he was appointed Head of Credit for the Southern Tuscany, Umbria and Marche Area, subsequently becoming the Area Head of Credit for North-West Italy and then for Central Italy and Sardinia. As of May 2018, Mr. Ametrano serves as Head of the Performing Loans Division, responsible for the disbursement and management of Banca MPS' performing loans portfolio. As of August 2018 he also serves as Member of the Board of Directors of Mps Leasing & Factoring S.p.A.

Maurizio Bai

Mr. Maurizio Bai serves as Head of Network Division of the Company. since May 1, 2018. Mr. Bai joined Banca Monte dei Paschi di Siena in 1988, building up his career through various positions in the network and holding roles of responsibility in both the corporate and retail sectors, mainly in North East and Central ltaly. From 2003 to 2006 he was Head of the Corporate Centre for the Latina -Frosinone area and Corporate Marketing and Innovative Channels office within the General Management Division. From 2006 to 2010 he served as the Regional Retail Director for the Province of Livorno and later for the Province of Florence. From 2010 to 2011 he was Head of Human Resources and Organisation for the South-East Area. From 2011 to 2017 he served as Head of the Southern Tuscany Regional Area and later of the Southern Tuscany, Umbria and Marche Area. He was appointed General Manager of the Tuscany Area in 2017. Mr. Bai is a qualified Accounting and Commercial Expert. He is registered as a Financial Advisor. He has also represented the Bank serving as: Member of the Board of the Italian Banking Association's Regional Committee for Marche from 2013 to 2015 Member of the Board of the Italian Banking Association's Regional Committee for Umbria from 2013 to 2016 Member of the Board of Società Sviluppo Val di Cecina S.r.l. from 24/08/2007 to 08/06/2010 Member of the Board of the Chamber of Commerce, Industry, Crafts and Agriculture of Grosseto from 09/01/2012 to 05/03/2013 Member of the Board of Centro fidi Terziario S.c.p.a. from 2013 to 2015.

Ettore Carneade

Mr. Ettore Carneade has been Head of Compliance Area of the Company. He earned Degree in Political Science with International Economics from the University of Bari. Mr. Carneade began his professional experience with Banca Monte dei Paschi di Siena S.p.A. in 1982. From 1982 to 2006 he worked in the Network, where he held several positions of responsibility, first in the branches and later in the Apulia Regional Sales Area (Marketing - Securities and Finance - Private Banking – Affluent). In 2006, he joined the General Management Division, where he was responsible for the Affluent and Family Markets Service Unit, then the Retail and Network Division Staff Unit and later the Coordination and Controls Service Unit. From December 2016 to September 2018, he was Head of the Controls, Compliance and Claims Area, reporting directly to the Chief Commercial Officer. Since October 2018 he has been Head of the Compliance Area, reporting directly to the Chief Executive Officer. He has worked on numerous commercial, marketing and compliance projects. He is a public speaker and writer and has taken part in several conferences, with publications in several specialist magazines and journals. Mr. Carneade also served as: • Deputy Chairman of MPS Fiduciaria until October 2018 (previously he had been member of the Board of Directors since 2014) • Board Director of Integra spa (joint venture between MPS-Unicoop Firenze for the issuing of credit cards) between 2015 and 2018.

Pierfrancesco Cocco

Mr. Pierfrancesco Cocco serves as Chief Audit Executive of the Company. Mr. Cocco began his career in Istituto Bancario San Paolo di Torino, joining the Research and Planning Division in 1984. In 1985 he transferred to the London Branch where he remained until 1993, except for a two-year interlude between 1998-1990 during which time he opened the representative office in Athens, primarily working towards strategic development targets. He was Head of Strategic Planning for the London Branch, taking care of institutional relations with a number of national and international bodies. Subsequent to the transfer of the Proprietary Finance trading desk to the London Branch in 1990, he assisted in the creation and implementation of a financial risk management system. Having returned to Turin, he served as Head of ALM within the Risk Management Unit between 1993 and 1998. Mr. Cocco joined BMPS at the end of 1998 as Head of the newly-established Risk Management Unit within the Research, Planning and Control Office. He headed the Wealth Risk Management Service from 2006 to 2015 and was responsible for determining adequacy assessment methods, customer risk profiles and risk mapping on products, portfolios and customer investment services. Mr. Cocco is currently Chief Audit Executive and serves as the ad interim Head of the Staff Regulatory Relationship Unit, which he set up at the start of 2015 to oversee the interaction and coordination of the Group's relations with the European Supervisory Authorities (ECB and SRB) as well as the local Regulator (Bank of Italy) as part of the new European single supervisory and crisis management mechanism. He holds degree in Political & Social Sciences (specialist area, Economics) from the University of Padua and an M.A. in Economics from the University of Western Ontario, Canada.

Roberto Coita

Mr. Roberto Coita has been Chief Human Capital Officer of the Company., Effective 25 June 2019. He graduated in Business Administration and started working with Andersen Consulting – Accenture (consulting services) dealing with issues in connection with Change Management, Organization and Human Performance in the banking industry. In 2006, he was in charge of the HR Planning and Control Unit of Antonveneta where he reorganized the HR Department by budgeting personnel expenses, planning the workforce for the implementation of the integration projects in the ABN AMRO and MPS Group, preparing HR Management Reports and implementing monitoring and performance KPIs. In 2008, he was first appointed Manager of the Organization Structure Development & Regulation Unit of Banca Monte dei Paschi di Siena and subsequently Manager of the Business Transformation Unit. In 2016, he was promoted to the position of Manager of the Talent & Knowledge Management Dept. (in charge of Staff Selection, Development and Training).

Eleonora Cola

Ms. Eleonora Cola serves as Head of the Retail Division of the Company. Ms. Cola began her career in 1985 in Banca MPS's branch network where she served in a number of roles within the Corporate area as well as Branch Manager. In 2002 she moved to the Central Office where she worked in the Corporate Division and in 2009 she was appointed Head of the SME Operational Marketing Sector. As of 2013, she held several positions of responsibility in the area of business analysis and monitoring, focusing on competitive positioning, customer satisfaction and branch planning and reporting directly to the Deputy General Commercial Manager (2013), Head of the Retail and Network Division ((2014-2016) and Deputy General Manager and Chief Commercial Officer (2016-2017). She holds degree in Business and Economics from Universita Cattolica del Sacro Cuore, Milano.

Fabiano Fossali

Mr. Fabiano Fossali serves as Head of the Corporate Division of the Company., since May 1, 2018, Mr. Fossali earned a Degree in Business Administration from Cà Foscari University in Venice and a Master's Degree in Management and Banking. Mr. Fossali began his career in 1994 in Banca Antonveneta's branch network, where he served in a number of roles in both the retail and corporate areas. As of 1998, he took on increasingly complex roles within the corporate sector and was eventually appointed Head of the Corporate Finance Service for corporate and investment banking transactions across the Bank's network. In 2008, he became Head of Large Corporate Customers and in 2013, the year of Banca Antonveneta's merger into BMPS, he was named Head of the Large Corporate Centre for the North-East sales network. In 2016 he was appointed Head of the Commercial Office and Corporate Products for the Antonveneta Area.

Fabrizio Leandri

Mr. Fabrizio Leandri serves as Chief Lending Officer of the Company., since November 2016. He began his career in a consulting firm specializing in international trade analysis, where he worked from 1990 to 1992 (Rome and Brussels). In 1993 he joined the Bank of Italy as a Supervisory Inspector until 1996 before taking on the supervision of supervisory models and methods. As of 1999 he served as an Italian representative with the Basel Committee's Risk Management Group and for the European Commission Operational Risk Working Group. In February 2004 he joined Banca Monte dei Paschi di Siena as Manager in charge of the Internal Audit Specialized Methods and Activities Department with the task of developing and validating the internal risk management models. In December 2007 he was appointed Head of the MPS Group's Internal Audit Unit. As Chief Audit Executive, he was a member of the AXA's Audit Committee as well as a member of the Steering Committee of the Italian Association of Associazione Italiana Internal Auditors Financial Unit. He was appointed Chief Lending Officer in November 2016. The Performing Loans Management Division and NPL Management Division report to him directly. Mr. Leandri graduated cum laude from Universita degli Studi di Roma La Sapienza with a degree in Corporate Finance. He obtained a Master's degree in International Finance (Manchester University) as well as a Master's in Foreign Trade and International Finance (I.C.E.).

Nicola Massimo Clarelli

Mr. Nicola Massimo Clarelli serves as Chief Financial Reporting Officer of the Company., since November 26, 2016. From 1998 to 2003 he was Audit Supervisor at Arthur Andersen S.p.A. - Financial Services Industry, where he managed multi-disciplinary teams engaged in the audit of the company and consolidated accounts of leading banking groups. From 2003 to 2011 he was Senior Manager with Deloitte Consulting - Strategy & Operations. He has been a chartered accountant and auditor since 2006. Mr. Clarelli joined BMPS in 2011 as Head of Budget & Accounting, responsible for the preparation of the Bank's standalone and consolidated financial statements. He was appointed Head of Administration and Accounts in 2015 and as of 26.11.2016 also serves as the Chief Financial Reporting Officer. He holds degree cum laude in Business Administration from the University of Naples.

Ettore Minnella

Mr. Ettore Minnella has been Chief Operations Division of the Company. He earned Master’s Degree in Law cum laude, 2005, University of Siena (Italy). He has diversified his path in MPS from 1990, both on the field (Branch Dpt) and in Headquarter. Focused on banking services and foreign department until 1992, he subsequently extended his collaboration in Operations Dpt, gradually covering various roles in Category & Service Management. Since 2008 he has been responsible of: • Group's Cost Management/Cost Optimization Plans; • development and implementation of the Supplier, Spend & Sourcing Management platform, of which he was process owner; • Sustainability Procurement Program in the CSR Area, collecting several awards in the European context. From 2012 to 2016 he was responsible of the Group Purchasing Department. He took over the management of the Purchasing, Cost Management and Logistics Area in 2016 and kept this position until 2018. Member of the Board of Directors of ABC - Asset Banking Consortium, his name appears in some publications from magazines specialized in Sourcing & Procurement. He also served as Officer of the Italian Army.

Marco Palocci

Mr. Marco Palocci serves as Head of External & Institutional Relations Division of the Company., since 2016. Between 2003 and 2007 he was Head of Group Corporate Communications and Institutional Studies at Unicredit, later becoming CEO of the Italian subsidiary of the Brunswick Group, a global leader in corporate and financial communications. He served as Communications Director for the Camera dei Deputati, the Lower House of the Italian Parliament, from 1997 to 2001. A professional journalist and Lecturer in Media Economics at the Cattolica del Sacro Cuore University in Milan, for several years he worked for "Il Sole 24 Ore" where he was New York correspondent, special correspondent and political columnist. Mr. Palocci joined BMPS in 2016 as Head of External and Institutional Relations. He also serves as Deputy Chairman of the Fondazione Banca Agricola Mantovana, Board Director of the Fondazione Antonveneta and is a member of the Steering Committee of the Fondazione Musei Senesi. Mr. Palocci graduated cum laude in Political Science with Economics from Universita degli Studi di Roma La Sapienza and later specialised in International Affairs and Journalism in the United States and France.

Lucia Savarese

Ms. Lucia Savarese serves as Head of Non-Performing Loans Division of the Company. She earned Degree in Economic Science & Banking from the University of Siena. In 1990 she joined Banca MPS, where she built up her career, first in the Branch Network and later in the General Management Division, primarily within the Corporate area. In 2001, she was appointed Head of the Deputy General Management Staff Unit, responsible for overseeing the activities of the units reporting directly to the Acting Deputy General Manager as well as the strategic projects for the Bank. From 2006 to 2009, she headed the Group's Risk Service, where she focused on significant credit risk, assessment of credit line proposals and the monitoring of exposures. In 2010, she became Head of BMPS's Loan Restructuring and Problem Assets Area, responsible for the management of loans under restructuring at Banking Group level. As of April 2017, she is also a member of the Board of Directors of MPS Capital Services S.p.A.. Ms. Savarese currently serves as Head of BMPS's Non-Performing Loans Division and is responsible for the management of the problem loans portfolio (restructuring, distressed credit risk and bad loans).

Federico Vitto

Mr. Federico Vitto serves as Head of Wealth Management Division of the Company. Mr. Vitto earned Degree in Economics & Business from Rome's LUISS University. From 1998 to 1999 Mr. Vitto served as Head of Trading in Options on Government Bonds in Banca IMI S.p.a. He joined the Montepaschi Group in 1999 as Head of Derivatives. Between 2001 and 2005 he was in Montepaschi Finance, first as Head of Derivatives Trading and later serving as Head of Trading from 2005 to 2007. In 2007, he joined the MPS Capital Services Group as Head of the Capital Markets Division. Within the same company, in 2008 he was appointed Head of Global Markets and Deputy General Manager. Between 2014 and 2016 he returned to Banca MPS as Head of Finance, Treasury and Capital Management, taking over group-wide responsibility for funding, financial portfolio management and financial optimisation of the capital structure, reporting directly to the CEO. Mr. Vitto is currently Head of Wealth Management in BMPS, responsible for marketing activities as well as the development and management of business strategies for the private banking market. His other appointments include: As of December 2017: Board member of Axa MPS Vita- Axa MPS Danni As of November 2017: Board member of Axa MPS Financial As of April 2017: Chairman of MPS Fiduciaria As of February 2016: Board Member of Assiom and Treasurer As of 2008: Member of the Board of Directors of Intermonte Sim S.p.A.

Maria Elena Costanza Bruna Cappello

Ms. Maria Elena Costanza Bruna Cappello serves as Independent Director of the Company., since April 16, 2015. In 1991 she entered Italtel S.p.A. With the role of System Consultant in the OSS Switching Business Unit, while In 1994 she joined Emc Italia S.p.A. Where she comes to serve as the manager of the Public Division Administration and the Telecom Division. In 1998, she joined Compaq Computer (then Hewlett Packard) at the headquarters of Monaco (Germany), where she holds the position of Marketing Manager EMEA Storage Division, Business Development Manager Division EMEA Storage, and Executive Director Compaq Global Services EMEA and Executive Director Service Provider Group EMEA. In 2002, as an entrepreneur, she founded and developed in Europe Metilnx Inc., headquartered in Milan, Software in the US where she is a member of the Executive Committee of MetiLinx Inc. in San Mateo CA (USA) and is Chief Executive Officer UK, Germany and Italy. In 2005 she assumed the position of Senior Vice President Sales at Pirelli Broadband Solutions S.p.A. In 2007 she joined Nokia Siemens Networks (now Nokia), headquarters in Milan and London, as responsible Strategic Marketing at the global level, and from 2010 to 2013 is the Chief Executive Officer, General Manager and Deputy Chairman of Nokia Siemens Networks Italy's Board of Directors S.p.A. And Nokia Siemens Networks S.p.A. (Real estate company). Since 2012, she has been an independent director and member of the Prysmian S.p.A. Control and Risk Committee. And member of the Global Female Leaders Summit Advisory Board. In 2015 she is appointed Independent Advisor and Chairman of the Remuneration Committee and the Appointments of Saipem S.p.A. And Independent Director and Member of the Italian Control and Risk Committee Online S.p.A. She graduated in Engineering from Universita degli Studi di Pavia.

Salvatore Fernando Piazzolla

Mr. Salvatore Fernando Piazzolla serves as Independent Director of the Company., since December 18, 2017. He has been AXA Group Global Chief Human Resources Officer until the end of September 2017. Prior to AXA Rino has been at the head of Unicredit Group Human Resources from 2005 to 2010; in this group he has also been Vice Chairman of UniManagement and UnIdea and Koc Financial Holding Board Member in Turkey. Previously he has been a General Electric Corporate Officer leading Human Resources in major Industrial Divisions both in Europe and the United States. Furthermore he has had position of increasing responsibility in Pepsico in the United States and SC Johnson Wax in Europe. He studied Philosophy at Universita degli Studi di Milano. Since December 2017 he is member of the Board of Directors at Banca Monte dei Paschi di Siena.

Marco Giorgino

Mr. Marco Giorgino serves as Independent Director of the Company. Marco Giorgino graduated in Business Administration at Bocconi University. Since 2004, he has been Full Professor at Politecnico di Milano, where he holds the Chair of «Financial Markets and Institutions» and «Financial Risk Management». Senior Professor at MIP Graduate School of Business (FT Ranked, among the Top 50 European Graduate Business Schools), where he is also Scientific Director of the Banking and Finance Area. At present day, he is Director of the Master Program in Financial Risk Management. He has coordinated several research projects ending up with about 120 publications both national and international, on banking and finance topics and, more recently, on «corporate governance», «risk management» and «digital innovation» in banking and financial services. He is Scientific Director of the «Fintech & Digital Finance» Observatory and of the «Corporate Governance» Observatory at Politecnico di Milano, School of Management. He has been serving and still serves as Independent Director or Chairman, as Statutory Auditor and as Chairman of the Surveillance Body (according 231/2001 law) in listed and not listed banking or industrial companies, also under the direct supervision of the European Central Bank. He is Certified Statutory Auditor (since 1999) and he has been a licensed certified public accountant (since 1992). Marco Giorgino is a member of the Board of Directors of the Bank from 2017, 18th December.

Fiorella Kostoris

Ms. Fiorella Kostoris serves as Independent Director of Banca Monte dei Paschi di Siena S.p.A. since April 16, 2015. Degree in Economics from Milan’s Bocconi University. She subsequently attended the Graduate School of Economics at MIT (Massachusetts Institute of Technology), where she was awarded an MSc with honours. She has been a Full University Professor since 1980. She was Professor of Economic Policy in the Department of Economics of the University of Trieste, later becoming a permanent Professor at the Scuola Superiore di Pubblica Amministrazione in Rome and then Professor of Political Economy in the Economics Department of Rome's "Sapienza" University and in the University LUISS of Rome. She has advised a number of Italian and international organisations in the areas of both finance and policymaking. These include: the International Monetary Fund European Department, the Competition Directorate of the EEC, as member of the “Wisemen Group on State Aids Policy”, the Conseil d’Analyse Economique du Prémier Ministre in France (from 1999 to 2004) and the Italian Ministry of University and Research (2003-2006). Ms. Kostoris has served on the Board of the Ethical Fund of the Banca Nazionale del Lavoro for Telethon, been advisor to UniCredit Banca Impresa, Chairperson of Sella Gestioni SGR and then consultant to the Banca Sella Group. She has been an advisor to the Gerson Lehrman Group since 2008 and since 2009 she has been the Italian National Expert for AHELO (Assessing High Education Learning Outcomes) with the OECD as well as National Project Manager for AHELO in Italt. She has also served on the Advisory Boards of: ANIA (Associazione Nazionale delle Imprese Assicuratrici - the Italian Association of Insurance Companies) since 2005; the Scientific Committee of ANIE (Federazione Nazionale Imprese Elettrotecniche ed Elettroniche - National Federation of Electro-technical and Electronic Companies) since 2006; and CBM (Centro di Biomedicina Molecolare – Centre of Molecular Biomedicine) sin

Roberto Lancellotti

Mr. Roberto Lancellot serves as Independent Director of the Company. Roberto Lancellotti is an investor and senior advisor to companies and start-ups on digital and innovation. He is a social researcher on youth unemployment, immigration and impact of technology on labor market. In 1994 he joined McKinsey & Company. Partner from 1999 to 2006, Senior Partner from 2006 to 2017. He has served leading companies in banking, insurance, TLC, ICT services and retail distribution. Broad experience on design and large-scale transformation of their business and operating model, M&A and leverage of ICT and digital technology for business impact. He led the European Banking Operations & Technology practice from 2005 to 2013. From 2014 to 2017, European leader of the Business Technology Office. From 2016 to 2017, European leader of Digital McKinsey practice. He has been member of the Firm’s global committees for Partner election and evaluation. Before joining McKinsey, he played multiple roles at Etnoteam, an Italian ICT service provider. Currently he is member of the Board of Directors of DATALOGIC S.p.A.. Roberto holds a degree with honors in Computer Science from University of Milan and a Master in Business Administration from SDA Bocconi in Milan. Since December 2017 he is member of the Board of Directors at Banca Monte dei Paschi di Siena

Nicola Maione

Mr. Nicola Maione serves as Independent Director of the Company., since December 18, 2017. Degree in Law from the University of "La Sapienza" in Rome. Court of Cassation lawyer. Mr. Maione has extensive academic experience in the field of civil and commercial law and is the author of several publications. He has held positions as Bankruptcy Curator, Government Commissioner and Commissioner for Liquidation of Cooperative Companies and Judicial Commissioner pursuant to Legislative Decree no. 270 of 8 July 1999. He is also a member, as an expert, of the Supervisory Boards of Bernardi Group S.p.A., Go Kids S.r.l. and NUOVA SOFIA S.r.l. under Extraordinary Administration. He serves as legal advisor in major corporate restructuring operations, insolvency proceedings and corporate groups under Extraordinary Administration. He has been the Supervisory Board Chairman of a leading financial company. He was previously a member of the Board of Directors of Milano Assicurazioni S.p.A. and Prelios Credit Servicing S.p.A. Since 2014 he has been first a Board member and Chairman of the Risk, Control and Related Parties Committee of ENAV S.p.A. and currently he is Chairman of the board of Directors. Mr. Maione has been a member of the Board of Directors of Banca Monte dei Paschi di Siena S.p.A. since December 2017.

Stefania Petruccioli

Ms. Stefania Petruccioli serves as Independent Director of the Company. Mrs Stefania Petruccioli was appointed non-executive Independent Director of Banca Monte dei Paschi di Siena S.p.A. on 18 December 2017. Since July 2014 she is Fund Manager of Principia SGR S.p.A., management company of venture and growth capital investment funds. From 2005 to 2014 she was Partner of Progressio SGR S.p.A., management company of private equity funds. From 2000 to 2005 she was Investment Manager of Convergenza Com S.A., management company of a private equity fund focused on media and tlc business. Before 2000 she was always involved in corporate finance and private equity. Over the course of her career she has also been Member of Board of Directors in some portfolio companies and in listed companies. With respect to these, she has been Member of the Board of Directors of Cairo Communication S.p.A. and of Best Union Company S.p.A.. She is currently non-executive independent Director of De’ Longhi S.p.A. (and Member of the Control, Risk Committee), of Interpump Group S.p.A. (and Member of the Control, Risk Committee and of Related Parties Committee), of RCS MediaGroup S.p.A (and Chairman of the Control, Risk Committee and of Related Parties Committee and Member of the Remuneration Committee) and of F2A S.p.A.. She holds a degree in Business Studies from Bocconi University (1991) and is also a qualified Chartered Accountant and Auditor.

Angelo Riccaboni

Mr. Angelo Riccaboni serves as Independent Director of the Company., since December 18, 2017. He is full Professor of Business Administration and Management at the University of Siena since 1999. Mr. Riccaboni has been Chair of the PRIMA Foundation since 2017. Based in Barcelona, the Foundation was created by the European Commission and 19 Euro-Meditteranean countries to implement a joint Program of innovation and research in the agrifood sector. He was Rector of the University of Siena from 2010 to 2016 and Chair of the CRUI (Association of Italian Rectors) between 2014 and 2016. From 2005 to 2010 he was Dean of the Richard Goodwin Faculty of Economics and Management and was Chair of the Association of Deans of Italian Schools of Economics, Management and Statistics between 2008 and 2010. As of 2012, he has been Chair of SDSN (Sustainable Development Solutions Network) Meditteranean, an initiative promoted by the United Nations. He is also Chair of the Achille Sclavo Foundation, which is committed to innovation in Life Sciences. He has been a member of the Academic Board of the University of Gibraltar since 2015. He was visiting scholar at Harvard Business School, New York University, London School of Economics and INSEAD. He was a member of the Bank of Italy's Board of Auditors and has served on the Board of Directors of Banca Toscana. His research activity, which has a strong international focus, addresses Governance and Management Control issues in a social environmental perspective as well as the role of organisations and Universities in promoting sustainable innovations.

Michele Santoro

Mr. Michele Santoro serves as Independent Director of the Company., since 21 December 2017. Mr. Santoro was born in Siena on 28 March, 1955. He graduated from the “Michelangelo” Classical Lyceum in Florence in 1973 and on 26 October 1977 he was awarded a Law Degree from the University of Florence with full marks and honours. In 1977 he began to practice as a notary and collaborated with the notary offices of Francesco Feri in Florence. In 1980 he passed his Solicitor's exam at the Court of Appeal of Florence. In 1982 he passed the Open Competitive Examination for Notaries and on 9 June 1983 was entered in the Roll of Notaries, with an initial base in Montevarchi (Notarial District of Arezzo). He subsequently transferred to the United Notarial Districts of Florence, Pistoia and Prato, being first based in Prato and later, as of July 1988, in Florence, where he continues to practice as a notary in his offices in Via Micheli 12. Between February 2009 and February 2012 he was a member of the Florence District Notary Council. In the course of his professional career he has developed considerable experience in the different areas of his work, which include: corporate law, providing expertise, advice and support in major corporate transactions (ordinary and extraordinary) such as mergers, demergers, transformations, incorporation of new companies, drafting of company bylaws, setting up of joint-ventures, start-ups, spin-offs, capital increases and reductions, business transfers and disposals and equity investments on behalf of companies and entities operating at national and European level. inheritance law, real estate transfers, bank loans, with a particular focus on bank credit, and tax law.

Giorgio Valerio

Dr. Giorgio Giannino Valerio serves as Independent Director of the Company., since December 18, 2017. From September 1989 to 1992 he has been Sales manager for Securities and Financial Services to Italian Institutional Investors in Paris and London at Schroder Securities Ltd. From November 1992 to March 1997 he has been Manager in the M&A, Corporate Finance and Advisory Services department at Mediobanca. From April 1997 to December 2000 he has been Deputy Director for Corporate Development and Financial Control at Holding di Partecipazioni Industriali. In 2001 he is appointed Director for Corporate Development and Financial Control in RCS Mediagroup. From 2003 to 2005 he has been Chief Executive Officer of Unidad Editorial S.A. a media group based in Spain (RCS Mediagroup). From 2006 to 2010 he was Chief Executive Officer of RCS Quotidiani and RCS Digital and held various positions in others RCS Mediagroup companies. Since 2011 he is Advisor and Venture Capitalist in companies operating in the TMT and Digital sectors. He has been member of the Board of Directors of various listed companies (Telecom Italia, Prelios, Dada) and since april 2017 he is Independent non Executive Director at Massimo Zanetti Beverage Group. He graduated at University of San Francisco - San Francisco, USA: Bachelor in Business Administration Cum Laude (1989).

Roberta Casali

Ms. Roberta Casali has been appointed as Non-Executive Independent Director of the Company., since 12 July 2018. Degree with honors in Economics and Business Administration from “La Sapienza” University of Rome. Master’s Degree in Business Administration (MBA) in the United States from the “Simon Business School” of the University of Rochester. From 1987 to 1989 she was an economist at ENI’s Research Office. From 1989 to 2004 she gained institutional experience in the Bank of Italy as Officer and Co-Director, managing projects of strategic importance for the development of the Italian Payment System and participating in numerous working groups with ABI, SIA, Poste and banks. At the international level, among other appointments, from 1997 to 2003 she was a member of the CPSS Working Group on Retail Payment Systems (now called Committee on Payments and Market Infrastructures) at the Bank for International Settlements of Basel. From 2004 to the beginning of 2017 she held various managerial positions in Banca Caboto (now called Banca IMI) and in the Corporate and Investment Banking Division of Intesa Sanpaolo, where she coordinated merger programs, extraordinary transactions and turnarounds and managed innovation, communication and sustainability projects. She was a member of the Board of Directors of IMI Investimenti SpA, Centro Factoring SpA and Centro Leasing SpA. Since April 2017 she is member of the Board of Directors of Antirion Sgr SpA, where she is also a member of the Independent Directors Committee and referent person of the Board on Audit, Compliance and Risk Management. She earned the INSEAD Certificate in Corporate Governance (IDP-C) at Fontainebleau. She is a Chartered Accountant and Temporary Manager certified by RINA.

Elisabetta Pozzi