Paschi’s Ousted CEO Lovaglio ‘Confident’ He’ll Get New Term

Ousted Banca Monte dei Paschi di Siena SpA Chief Executive Officer Luigi Lovaglio said he expects to win a new term at the helm of the Italian lender despite efforts by the board of directors to replace him.

“I’m confident,” Lovaglio said in an Bloomberg TV interview Wednesday when asked about his prospects. “My commitment will be recognized by the market,” he said, adding he’s “comfortable” running against the board’s wishes.