Glass Lewis Backs Paschi Board Slate in Governance Battle

Shareholder advisory Glass Lewis & Co. endorsed the board-backed slate of candidates at Banca Monte dei Paschi di Siena SpA, weighing in to support Fabrizio Palermo as the bank’s next chief executive officer.

The slate presented by the outgoing board appears designed to maintain board continuity while overseeing a transition in executive leadership, Glass Lewis said in a report dated April 2.