This article appears courtesy of Institutional Investor
Source: InstitutionalInvestor.com
Antonio Fazio , governor of the Bank Of Italy, has resigned following accusations that he favored a takeover bid from Banca Poplare Italiana for Banca Antonveneta over one from Dutch ABN Amro. Financial News reports, however, that Fazio had to resign or face being forcibly removed from office in what is was terms “an extraordinary meeting” by the Consiglio Superiore, the Bank of Italy’s overseeing body. Fazio reportedlty was under criminal investigation for his actions related to the takeover.
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