Bloomberg News

Pop. Milano Modifies New Statute to Meet Bank of Italy Requests

October 15, 2011

Oct. 15 (Bloomberg) -- Banca Popolare di Milano Scrl modified its new statute due to be voted on by shareholders on Oct. 22 to accommodate requests by the Bank of Italy, the bank said yesterday in a statement.

The central bank asked Popolare di Milano to make changes to guarantee a clear separation between ownership and management, give shareholders a bigger role and strengthen the management board’s powers, the bank said.

--Editor: James Kraus

To contact the reporter on this story: Francesca Cinelli in Milan at fcinelli@bloomberg.net.

To contact the editor responsible for this story: James Ludden at jludden@bloomberg.net


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