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BlackRock Backs Dissident Slate for Monte dei Paschi CEO

BlackRock supports a dissident proposal to reappoint ousted CEO Luigi Lovaglio at Monte dei Paschi. The group is the third largest investor in the Italian bank.

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BLACKROCK INC has reportedly decided to support a dissident investor slate in the boardroom battle at Monte dei Paschi di Siena, according to reports from the ANSA news agency on Monday. The world's largest asset manager, which is also the third-largest investor in the bank, is backing a proposal to return ousted Chief Executive Luigi Lovaglio to a leadership role within the institution in Italy.

A trader is seen at the BlackRock trading station on the floor of the New York Stock Exchange. REUTERS/Brendan McDermid
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