MILAN, Sept 14 Troubled Italian bank Monte dei
Paschi di Siena as expected on Wednesday appointed the
head of Bank of America Merrill Lynch in Italy as its new chief
Marco Morelli, who served as Monte dei Paschi chief
financial officer before leaving the bank in 2010, returns to
the Tuscan lender as it prepares to raise up to 5 billion euros
($5.6 billion) as part of an emergency rescue plan to avert the
risk of being wound down.
Morelli replaces Fabrizio Viola, who agreed to step down
last week under pressure from the Italian treasury and
investment banks leading its capital raising consortium,
according to sources close to the matter.
The bank said on Wednesday Chairman Massimo Tononi would
also step down after a shareholder meeting due to be convened in
coming weeks to approve the bank's rescue plan.
($1 = 0.8889 euros)
(Reporting by Silvia Aloisi; editing by Francesca Landini)