Monte dei Paschi bank’s cfo, Francesco Mele, resigned a few days ago (see here the press release). Several sources say that the top banker has negotiated a primary role in the new management team that is going to lead the new bank that will be built by  Spaxs, the Special purpose acquisition company promoted by former Italian Economic Development Ministry and former Intesa San Paolo and Poste Italiane’s ceo Corrado Passera together with former head of Banca Ifis’s NPLs area Andrea Clamer (see here a previous post by BeBeez). Former Montepaschi’s chief risk officer, Andrea Rovellini, has been than nominated as new bank’s cfo.
Mr. Mele arrived in Mps in September 2016 coming from Nomura and has been working together with Montepaschi’s ceo Marco Morelli both to the first 5 billion euros capital increase try and to the following talks with the Ecb and the EU Commission about State aids and the Italian Government involvement in the bank recap.
Speaking at a workshop orgaized by BeBeez about SPACs in Italy last March 7th, Massimo Brambilla, a board member at Spaxs and a partner of Mr. Passera in its invested veichle in Spaxs, said that the company is finalizing in these days the new management team that will be leading the new bank. Actually Spaxs is targeting a small commercial bank in order to transorm it a totally new banking player thanks to the injection of the 600 million euros that the Spac raised among international investors last January. The new bank will be focused on SMEs financing and corporate NPLs investing, while looking for funding from retail customers through an innovative web bank.
