Luigi Lovaglio has launched his own candidacy list for the upcoming board of directors of Monte dei Paschi, marking the third list in the race next to the outgoing council and the Assogestioni list. This initiative, announced by the PLT holding owned by the Tortora family, which holds over 1.2% of Monte dei Paschi shares, features 12 nominees, including Lovaglio himself as the candidate for CEO. The proposed president is the experienced 81-year-old Cesare Bisoni, a former chief of Unicredit.

Yesterday, Pierluigi Tortora, head of PLT, emphasized that he has had no discussions with key figures like Francesco Milleri from holding Delfin or the Caltagirone group, reaffirming his commitment to the future of Monte dei Paschi. Tortora expressed confidence in the potential merger between Monte dei Paschi and Mediobanca, predicting a transformation into a major international banking player akin to JP Morgan. His comments seem strategically aimed at invigorating support for Lovaglio’s candidacy and influencing the overall narrative around the future of the bank.

The context of these developments is significant as Monte dei Paschi navigates challenging waters in the Italian banking sector with increasing pressures for restructuring and modernization. Lovaglio's bid, along with Tortora's backing, highlights internal factionalism and the pivotal role of influential stakeholders in determining the future direction of Monte dei Paschi amidst an evolving financial landscape.