How Italian banks built new foundations
Politics in and out of the boardroom
Founded in 1472 in the picturesque Tuscan city of Siena, Banca Monte dei Paschi di Siena, is the world’s oldest bank.
The bank, like the town and region with which it is synonymous, has an illustrious history of independence. But just as Siena’s influence was eventually eclipsed by neighbouring rival Florence in the 14th century, Monte dei Paschi, Italy’s fourth-largest bank, today faces the threat of being eclipsed by rivals pursuing an aggressive strategy of mergers and acquisitions.
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