Published by Global Banking & Finance Review®
Posted on March 26, 2026
2 min readLast updated: March 26, 2026
Add as preferred source on GoogleMonte dei Paschi di Siena (MPS) lodged a formal complaint with ECB, Bank of Italy, and Consob over CEO Luigi Lovaglio’s bid for reappointment, arguing he failed to disclose his alliance with PLT Holding and that proper supervisory authorisation was not sought.
MILAN, March 26 (Reuters) - Monte dei Paschi di Siena (MPS) <BMPS.MI> filed a complaint with banking and markets supervisors on Thursday over a slate of board nominees that aims to keep CEO Luigi Lovaglio in the job, a person with knowledge of the matter said.
The move highlights the intensifying legal battle around the leadership of MPS, whose board on Wednesday stripped Lovaglio of his powers, but failed to force him out.
Supported by small MPS investor PLT Holding, Lovaglio has challenged the board's decision to rule him out for another mandate.
The bank complained to the European Central Bank, the Bank of Italy and Italian markets regulator Consob that the CEO should have disclosed sooner the alliance with PLT, given his duties towards MPS and its board, the person said.
The complaint also said the proponents of the slate should have requested prior authorisation from the ECB, the person added, given Lovaglio's position and his influence over the bank.
In acknowledging it had received the PLT list on Wednesday, MPS had said it would assess its compliance with relevant regulations.
PLT Holding declined to comment.
(Reporting by Valentina Za, editing by Gavin Jones)
MPS filed a complaint regarding a board slate aiming to retain CEO Luigi Lovaglio, citing concerns over disclosure and required authorizations.
CEO Luigi Lovaglio is supported by small MPS investor PLT Holding in his challenge against the board's decision.
MPS addressed the European Central Bank, the Bank of Italy, and Italian markets regulator Consob in its complaint.
The MPS board stripped Lovaglio of his powers but did not manage to force him out as CEO.
PLT Holding declined to comment on the board dispute and complaint regarding the CEO's reappointment.
Explore more articles in the Finance category
