Italy's Credem bank chief Angelo Campani dies suddenly aged 62

MILAN (Reuters) -The head of Italian regional bank Credem, Angelo Campani, died on Friday aged 62, the bank said, adding that it had convened a board meeting for July 9.

The country's sixth-largest listed bank, worth 4.2 billion euros ($4.95 billion), said that in the meantime its operational continuity would be ensured by assigning Campani's powers to the rest of the management team.

Campani had a long career with Credem, whose full title is Credito Emiliano and is based in the northern city of Reggio Emilia.

He began working at the group over 40 years ago and had served as general manager since January 2023.

He died suddenly this morning while at work in his office, a source close the matter said.

Credem is directly supervised by the European Central Bank (ECB) and was ranked first in Europe in terms of capital strength in the ECB's most recent annual assessment.

($1 = 0.8493 euros)

(Reporting by Andrea Mandalà, editing by Giulia Segreti and Gavin Jones)