Monte Paschi Bank former finance chief arrested in Italy

MILAN | Thu Feb 14, 2013 4:20am EST

Banca Monte dei Paschi di Siena S.p.A. (Italian pronunciation: [ˈmonte dei ˈpaski di ˈsjɛːna]) (MPS) is the oldest surviving bank in the world and Italy‘s third largest bank. Founded in 1472 by the magistrate of the city state of Siena, Italy, as a “mount of piety“, it has been operating ever since.

MILAN Feb 14 (Reuters) – Italian police arrested on Thursday the former head of Monte dei Paschi’s finance department who is at the centre of a fraud and bribery probe at Italy’s third largest bank, two investigative sources told Reuters.

The sources said the man arrested was Gianluca Baldassarri, who left Monte dei Paschi shortly after the arrival of new chief executive Fabrizio Viola in Jan. 2012.

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Posted on February 14, 2013, in Politics. Bookmark the permalink. Leave a comment.

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