The Board of Directors of Banca Monte dei Paschi di Siena S.p.A. unanimously approved the appointment of Marco Morelli as the Group's new Chief Executive Officer and General Manager. He will take up the position from September 20.
The Board of Directors, based on the proposal made by Nomination Committee, came to the unanimous conclusion that Marco Morelli, in light of his broad international experience along with his deep knowledge of the Italian banking industry, is the best profile to assume the role of Chief Executive Officer and General Manager of BMPS. The Statutory Board of Auditors approved the appointment pursuant to article 2386 of Italian Civil Code.
Mr. Viola gave his availability to provide his support, until 15 October 2016, in a perspective of adequate "business continuity" and hand-over.
Marco Morelli was Bank of America Merrill Lynch’s Vice Chairman of Corporate & Investment Banking for Europe, the Middle East and Africa CGIB and he has been the Country Executive of Bank of America Merrill Lynch in Italy since October 2012.
Before joining BofAML, he was General Manager and Deputy to the CEO of the Intesa Sanpaolo Group from March 2010. From June 2006 to February 2010, he was Deputy General Manager of BMPS, first as responsible of Corporate Banking and Capital Markets division and then as CFO. In the context with this experience he was also the CEO of MPS Capital Services Banca per le Imprese. In 2006, on behalf of shareholding banks, has been Chairman of HOPA SpA.
Before joining the MPS Group, Marco Morelli was CEO and General Manager of J.P. Morgan Italy and a member of J.P. Morgan Europe Executive Committee. He also worked for UBS LTD, Samuel Montagu LTD and KPMG in different European locations.
In compliance with applicable laws and regulations, the appointment of new CEO will be submitted to the European Central Bank for approval.