The CEO of Banca MPS, Luigi Lovagliohold going. Despite the tensions linked to governance, the banker confirms his want to not change the combination plan with Mediobanca already introduced to the market.
«What I feel is de facto necessary for the market and for buyers is that this plan is absolutely operational. It’s strong, and it is nicely constructed from a strategic perspective. It’s one thing very troublesome to alter,” Lovaglio said during the speech Morgan Stanley European Financials Conference.
Cautious line
On the governance front, and in particular on the failure to include his name in the list of candidates for the board of directors for the next three years, Lovaglio prefers not to expose himself: «There is an ongoing governance process on which I cannot comment. However, I can reiterate that the plan is fully operational, solid from both a strategic and operational point of view, financially robust, and provides 16 billion euros of remuneration for shareholders”, mentioned the banker, thus responding to an analyst who requested him to make clear the governance scenario for worldwide buyers.
Excess capital
Lovaglio then opened up the potential of returning the surplus capital to Monte’s shareholders, if no M&A speculation takes maintain. «We monitor all market alternatives to create worth. It is obvious that we can not keep this stage of capital perpetually and should transfer in a comparatively brief time horizon.”
«The subsequent 12 months will likely be crucial for us», he added, highlighting that «if there aren’t any alternatives it’s clear that it could make a whole lot of sense to remunerate shareholders higher».
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