The gripping saga of Italy’s NPLs proceeds apace, firstly with Unicredit’s alleged offer to put 1,5Bn Euros into rescuing Banca Popolare di Vicenza. Although Ghizzoni, the CEO and an old hand at Unicredit, claims the offer wasn’t binding, the Board appears to have taken exception to hearing about this commitment only when the Atlante fund had already stepped into the breach, since take-up had been only of ten percent. Ghizzoni’s resignation reveals a lack of succession-planning as demonstrated by the ...
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