Monte Paschi CEO Lovaglio Nears Exit as Committee Denies Backing

Banca Monte dei Paschi di Siena SpA’s list of candidates for a new board of directors will omit Chief Executive Officer Luigi Lovaglio, paving the way for his likely departure.

The nomination committee has prepared a slate of 20 candidates that will be submitted for approval to the bank’s board and won’t include Lovaglio, according to people familiar with the matter who asked to not be named discussing private information.