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Report: Italian court to consider Banca Carige board dispute

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Report: Italian court to consider Banca Carige board dispute

An Italian court will meet Sept. 15 to hear a request by top Banca Carige SpA shareholder Vittorio Malacalza to block a rival list of candidates for the Italian bank's board submitted by other leading investors, insiders told Reuters.

A management row in Carige, which led to the departure of several board members, has brought the bank under heightened regulatory scrutiny. The ECB has told the bank to quickly solve its management issues and plug a capital gap by the end of 2018 or merge with another bank.

Malacalza has opposed a set of proposed board candidates put forward by other investors on the grounds that they failed to get the required regulatory permission before building up their stakes. He is looking to replace CEO Paolo Fiorentino with veteran banker Fabio Innocenzi.