Finance
BlackRock to Support Dissident Slate in Monte Dei Paschi Boardroom Battle, Ansa Reports
Published by Global Banking & Finance Review®
Posted on April 13, 2026
1 min readLast updated: April 13, 2026
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BlackRock, holding around a 5% stake in Monte dei Paschi di Siena, has pledged support to a dissident board slate that seeks to reappoint former CEO Luigi Lovaglio, countering the official board’s attempt to replace him, as reported by ANSA.
BlackRock to back new mandate for ousted Monte dei Paschi CEO, ANSA reports
BlackRock's Support and Monte dei Paschi Board Vote
BlackRock's Decision to Support Lovaglio
MILAN, April 13 (Reuters) - BlackRock, the world's biggest asset manager and the third largest investor in Monte dei Paschi di Siena, has decided to back a proposal by a dissident investor to reinstate ousted boss Luigi Lovaglio, ANSA news agency reported on Monday.
Upcoming Investor Vote
Board and CEO Selection
Monte dei Paschi investors vote on Wednesday to select a new board and chief executive. They are called to choose between Lovaglio and the candidate put forward by the bank's outgoing board, utility ACEA CEO Fabrizio Palermo.
BlackRock's Voting Philosophy
Long-term Financial Interests
BlackRock's voting decisions are consistent with an approach "focused exclusively on safeguarding the long-term financial interests of our clients," a representative for the fund manager said in response to a Reuters' request for comment.
Background on Boardroom Dispute
Lovaglio's Ousting and Shareholder Clash
Mediobanca Acquisition Controversy
Monte dei Paschi's outgoing board has ruled out Lovaglio's reappointment after a boardroom and shareholder clash over future plans for recently acquired peer Mediobanca.
(Reporting by Valentina Za; Editing by Giulia Segreti)
Key Takeaways
- •BlackRock is the third‑largest investor in Monte dei Paschi with approximately a 5 % stake, lending significant weight to the dissident slate’s bid to reinstate Luigi Lovaglio (5.02 %) (en.wikipedia.org).
- •Consob has confirmed that all three competing board slates—including the dissident one endorsed by BlackRock aiming to renew Lovaglio's mandate—are deemed legitimate ahead of the April 15 vote (m.investing.com).
- •The move dramatically intensifies Monte dei Paschi’s boardroom showdown, as the influence of a major institutional investor like BlackRock could sway the outcome in favor of the dissident group.
References
Frequently Asked Questions about BlackRock to support dissident slate in Monte dei Paschi boardroom battle, ANSA reports
1Who is BlackRock supporting in Monte dei Paschi's boardroom battle?
BlackRock is backing a proposal by a dissident investor to reinstate ousted CEO Luigi Lovaglio.
2What proposal is the dissident investor making regarding Monte dei Paschi?
The dissident investor proposes giving ousted Chief Executive Luigi Lovaglio a new mandate.
3How significant is BlackRock's stake in Monte dei Paschi?
BlackRock is the world's largest asset manager and the third largest investor in Monte dei Paschi di Siena.
4Who reported BlackRock's support for the dissident slate?
The support was reported by Italy's ANSA news agency.
