MILAN (Reuters) - The controlling shareholder of Banca Monte dei Paschi di Siena BMPS.MI said Friday it wants to ask for damages against the lender’s former managers and two foreign banks over loss-making derivative trades that brought it close to collapse.
The bank has already started legal proceedings. It is seeking 1.2 billion euros in damages from two former executives and investment banks Nomura 8604.T and Deutsche Bank DBKGn.DE over two 2008-09 trades it says were designed to conceal losses.
The foundation that controls the lender said it supports the bank’s decision to start legal proceedings.
Nomura and Deutsche Bank were not immediately reachable for comment.
Reporting by Jennifer Clark