Monte Paschi Said Planning to Name Morelli as CEO This Week

  • Morelli appointment said to need informal ECB approval
  • Padoan tells RAI that bank will appoint a new CEO on Wednesday

A statue of Sallustio Bandini stands in Piazza Salimbeni near the headquarters of Banca Monte dei Paschi di Siena SpA in Siena, Italy.

Photographer: Alessia Pierdomenico/Bloomberg

Banca Monte dei Paschi di Siena SpA, the Italian lender seeking to raise 5 billion euros ($5.6 billion), plans to propose Bank of America Corp.’s Marco Morelli as its new chief executive officer this week, according to people with knowledge of the matter.

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