Mediobanca Volta Page. Following the success of the Opa launched by Monte dei Paschi di Siena, which totaled an adhesion of 64.7% of the capital, the entire Board of Directors resigned in bulk. To leave the helm after 22 years will also be the CEO Alberto Nagel, who announced his release with a letter sent to 6,200 employees of the group just before the board meeting.
The now ex CEO, meanwhile, is monetizing his actions, given that in the last few days he has sold different ones: only yesterday he sold 1 million Mediobanca shares for 21.30 euros each, for a total of 21.3 million euros.
How much they collected the AD and the top manager of Mediobanca
To the former CEO, who had already sold shares for an equivalent amount and therefore collected over 40 million euros in all, he remained shares for a value of about 20 million.
In conjunction with the opa on Monte dei Paschi, the top managers of Mediobanca took advantage of the price listing at its maximum levels – 21.2 euros in closing – to create significant capital gains on the performances of share over the years. In addition to Nagel, the operations of the other members of the first level are added; President Renato Pagliaro placed 100 thousand shares on the market for a value of 2.1 million euros, while the general manager Francesco Saverio Vinci collected 8.5 million from his sale.
To these names are also added second floor figures. Director Ryan Sinnott (Polus Capital Management) sold 560 shares for 21.30 euros, collecting less than 12 thousand euros, while Raffaella Maria Robbiani, councilor of Mbcredit Solution, sold 280 shares for 21.5 euros, for 6 thousand euros total.
Market operators carefully look at these sales, which could be read as a signal of redefinition of internal balances but also as an act of personal asset management by managers. In the meantime, the Italian banking scenario continues to live weeks of strong transformation, with MPS who, after years of difficulty, returns protagonist thanks to a maneuver capable of redesigning national financial geography.
The after Nagel
Alberto Nagel, 60, is one of the longest -running bankers in Europe. He led Mediobanca for 17 years, ferrying it to the management of consumer credit, in Wealth Management and in strengthening the corporate division. The exit from the role of CEO marks the end of an era for the Institute, but also the beginning of a new phase under the direction of Luigi Lovaglio and the new reference shareholder.
Meanwhile, yesterday the Board of Directors of Mediobanca resigned and convened the assembly which on October 28th will renew the top of the Bank of Affairs according to the indications of the Monte dei Paschi, a new control member. To anticipate the farewell of Nagel a letter to the employees, where he greeted quoting Orazio, “Graecia Capta Ferum Victorem Cepit” (Greece won won the ferocious winner) “.” I will never be able to thank you enough for giving me the privilege of working with you “, the final phrase of the CEO.
