Top manager of Mediobanca sell the shares: Nagel collects 22 million. For the succession possible internal solution
Mps prepares to make the en plein on Mediobanca. Today the terms of the Opas have been reopened until Friday. According to forecasts, the percentage of memberships, today to 62.3%, should reach 80%. In these hours the possibility of arriving much higher is concrete.
Sales of managers
The highest managers of the bank also decided to leave the fort and collect the earnings. In the front row, the CEO Alberto Nagel who has lost the battle of power but can be consoled with robust capital gains. Yesterday he sold a million shares at the average unitary price of 22,0822 euros, thus collecting over 22 million euros. A consistent figure that can add to the maxi-liquidation. The imminent exit from the institute could fruit, according to rumors, about one hundred million euros.
The president of Mediobanca, Renato Pagliaro, also sold 100,000 shares for 22,009 euros, for a total collection of about 2.2 million euros. Not least, the general manager Francesco Saverio Vinci paid 400,000 shares to 22,1043 euros, bringing home around 8.8 million.
The succession to the summit
Vinci, however, is in pole position to take the bank in hand at the end of the Opas. His appointment would serve to give continuity to the management and avoid even more violent jolts than those who are checking. On the other hand, Luigi Lovaglio, the current CEO of MPS, has always shown to appreciate the internal solutions.
As an alternative to Vinci we talk about Gian Luca Sichel, current at the head of Compass and Head of Mediobanca Premier. Both represent the reassuring side of Mediobanca, given that the choice of an internal “ferryman” could serve to maintain cohesion between the bank’s ranks and to avoid a possible bleeding of talents, particularly in the crucial area of the Wealth Management, increasingly under assault by the competitors.
External candidates
In addition to the internal names, the list of candidates is enriched with personalities from other realities. One of the most popular names for the bank guide, together with Marco Morelli, former CEO of MPS and currently head of Axa Investment Managers.
Among the other papabili, Flavio Valeri (Lazard Italia), Victor Massiah (ex CEO of Ubi Banca) and Fabrizio Palermo (ex CEO of Cassa Depositi e Prestiti and Acea) includes. Stefano Marsaglia, current president of Azzurra Capital and former number one of Mediobanca’s investment banking, replied with an enigmatic comment on the possibility of his return to what was his home for many years: «I’m sorry to disappoint who would like to have me there, but he is very unlikely, I am very busy in the bottom. I never say never ».
The game for the presidency
As for the presidency, Vittorio Grilli, former former Minister of Economy and President of JP Morgan Italia, has returned overwhelmingly at stake, despite having been excluded at first for reasons of governance. Luigi De Vecchi, a former president of Citi for Europe, was also mentioned as a possible successor of Pagliaro, but his candidacy could meet resistance due to the internal dynamics of Mediobanca.
