Five Monte dei Paschi board members resign

ROME (Reuters) - Five independent Monte dei Paschi board members, who had all been picked by the Italian Treasury, resigned on Tuesday, the Siena-based lender said on Wednesday.

Paolo Fabris De Fabris, Lucia Foti Belligambi, Laura Martiniello, Annapaola Negri-Clementi, Donatella Visconti, were all part of the list presented in March 2023 by Italy's Economy Minister, which holds just under 12% of Monte dei Paschi

The lender did not give a reason for their decision.

The Italian government in November sold 15% of the Tuscan bank it rescued seven years ago to a group of Italian investors, raising 1.1 billion euros.

The move allowed it to meet re-privatisation commitments agreed with Brussels, giving up control of the bailed-out bank by the end of the year.

(Reporting by Giulia Segreti, editing by Cristina Carlevaro)