March 20, 2015 / 6:29 PM / 3 years ago

Monte Paschi key shareholders back Profumo as chairman

SIENA/ROME (Reuters) - Three key investors in Monte dei Paschi di Siena (BMPS.MI) have proposed confirming Alessandro Profumo as the bank chairman for the next three years, two sources with knowledge of the matter said.

A panel with logo of Monte dei Paschi di Siena bank is seen in downtown Siena, November 5, 2014. REUTERS/Giampiero Sposito

Monte dei Paschi’s board is up for renewal and a shareholder pact comprising the Monte dei Paschi banking foundation as well as Latin American investors BTG Pactual and Fintech have submitted their list of board candidates.

The list presented on Friday confirms Profumo as the bank chairman and Fabrizio Viola as its CEO, the sources said.

It remains unclear whether Profumo is prepared to stay on for three years. Press reports have said he would like to step down after a 3 billion euro capital increase is completed in May-June.

Reporting by Silvia Ognibene and Stefano Bernabei

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