Monte Paschi Plans to Replace Mediobanca CEO, Lovaglio Says (2)

Banca Monte dei Paschi di Siena SpA Chief Executive Officer Luigi Lovaglio said he plans to replace his counterpart at Mediobanca SpA, should he succeed in taking control of the larger rival.

Speaking in an interview with Bloomberg TV on Wednesday, Lovaglio said he tried to call Mediobanca CEO Alberto Nagel but hasn’t received an answer.

Nagel is “not interested in the deal,” Lovaglio said on Wednesday from London. “So I think we have to look for a new CEO” with an international profile who can motivate and develop existing staff and attract new talent, he said.