Mediobanca CEO Nagel Quits After Monte Paschi Takes Control

Mediobanca Spa Chief Executive Officer Alberto Nagel is resigning along with some other members of the lender’s board, paving the way for a change in leadership after Banca Monte dei Paschi di Siena SpA effectively won control over the rival.

“To facilitate an orderly and timely transition through the appointment of a new management body, the directors all, with the exception of” one member tendered their resignations, the bank said in a statement on Thursday.