Enhancement of internal resources and generational change at the heart of next May’s renewed managerial line New organisational evolution to support the Bank's full relaunch and accelerate technological innovation

Siena, 17 April 2018 –Banca Monte dei Paschi di Siena launches a new organisational structure, accompanied by a change in the managerial line with a view to progressive generational renewal and the enhancement of internal resources.

The new structure supports the full commercial relaunch of the Bank, which finds its strong focus on attention to the territory and to innovation, in a logic of managerial enhancement and of an acceleration to the revival of the Bank.

In particular, a new Network Division is created, which will report directly to the CCO and will be in charge of overseeing the MPS commercial network through its 5 Territorial Areas, concentrating on commercial coordination with a strong customer focus

In a logic of ever-increasing attention to technological innovation, Widiba, the Group's on-line bank, and the Group’s IT Service Company, Consorzio Operativo, will report directly to the CEO of Banca MPS who, together with Andrea Cardamone, confirmed CEO of Widiba and of the Consorzio Operativo, will develop the digitalisation of the Bank, bringing it to the best market standards.

At the same time, following the exit, effective from 1 May 2018, of Acting Deputy General Manager Angelo Barbarulo, of the CCO and Deputy General Manager Antonio Nucci, and of the COO Enrico Grazzini, the managerial line will be renewed, with the enhancement of internal resources who have distinguished themselves for their competence and professional capacity.

In particular:

Giampiero Bergami, current Head of the Corporate Division, will take on the role of Chief Commercial Officer. In his professional career he has accumulated roles and experience that consolidate a profound knowledge of both the Corporate and the Retail market (in Unicredit he served as Head of the North-Central Regional Area, with over 1,000 branches and about 7,000 employees). Furthermore, his experience in BMPS at Head of the Corporate Division has favoured his knowledge of the processes and operations of the BMPS network and the development of synergies with the Parent Company's governance and support functions.

Vittorio Calvanico, is the new Chief Operating Officer, replacing Enrico Grazzini. He began his professional experience in management consulting, and since September 2001 has been developing his professional career in Banca MPS, covering roles with increasing responsibilities in the fields of Development, International Operations and Planning, until his current post as Head of Strategic Planning.

Maurizio Bai, current Head of the Tuscany Territorial Area, assumes responsibility for the new Network Division, reporting directly to the CCO, which will oversee the 5 Territorial Areas. Maurizio Bai has a consolidated experience and a deep knowledge of the commercial network, both Corporate and Retail.

Dimitri Bianchini currently responsible for the Tuscany Territorial Area’s Coordination, Monitoring & Commercial Development Department, is promoted to Head of the Tuscany Territorial Area.

Fabiano Fossali, currently Area Manager of the Corporate Territorial Division of Eastern Veneto and Friuli Venezia Giulia, assumes responsibility for the Corporate Division, replacing Giampiero Bergami. Fabiano Fossali has developed his entire career within the Group with increasing roles in the Corporate market.

Finally, Giovanni Ametrano, currently Head of the Centre and Sardinia Credit Area, becomes the new Head of the Performing Loans Division, replacing Moreno Sonnini who is the new Head of the North-West Territorial Area.

Mr. Ametrano, a resource with a complete professional profile, has held various roles of responsibility in the course of his career, both in Corporate and Retail markets, which have led him to develop a broad vision of the Bank's business dynamics.

Marco Morelli, Chief Executive Officer of Banca MPS, commented: “On behalf of myself and of the entire Board of Directors, I wish to thank the managers who will soon leave the Bank for the exceptional contribution provided in a difficult phase, characterised by extraordinary and highly complex operations. To them goes all our gratitude for all the work they put in with dedication and professionalism in these years. Their constant commitment, together with the sense of responsibility of all the colleagues of the Group, has enabled the launching of an intense and challenging Restructuring Plan.

The choice of the new managers, who have shown great ability and strong management skills in their respective fields, was made with the intention of enhancing internal resources and of encouraging the company's generational change. I am sure that they will know how to interpret their role in the best way and that they will contribute new ideas and new stimuli to the relaunch and the growth of Monte dei Paschi”.

The three managers, who are leaving upon reaching retirement age, will receive no severance paid with own shares.


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Last modified: 14/06/2018