UBI Banca Names Gaetano Micciche as CEO
August 06 2020 - 10:30AM
Dow Jones News
By Pietro Lombardi
Unione di Banche Italiane SpA has appointed Gaetano Micciche as
its new chief executive officer, a move that kicks off its
integration with Intesa Sanpaolo SpA.
Mr. Micciche replaces former Chief Executive Victor Massiah, who
stepped down earlier this week after opposing Intesa's takeover
bid.
UBI said Thursday that it will call a shareholders' meeting for
Oct. 16 to appoint the new board of directors, since the current
directors confirmed that their mandate will end with the
shareholders' meeting.
Intesa Sanpaolo secured strong support for its takeover bid for
smaller rival UBI, with more than 90% of the shares tendered under
the offer.
Mr. Micciche will steer UBI through its integration with Intesa,
a deal that creates Italy's largest bank by assets. The process
should be completed by the end of next year, Intesa said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
August 06, 2020 10:15 ET (14:15 GMT)
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