Piermario Motta, chief executive officer of Banca Generali SpA, has died at the age of 58, the company said in a statement on Saturday.

Motta served as Banca Generali’s general manager from 2005 to 2012, when he was appointed CEO. “His memory is linked to the growth path of the bank that in a few years has become a benchmark in wealth planning and financial advisory in Italy,” the company said in the statement.

Chairman Paolo Vagnone will temporarily hold CEO powers until the board of directors names a successor, while the bank’s operations and customer management activities will continue to be overseen by General Manager Gian Maria Mossa, Banca Generali said.

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