Western Europe: M&A will not solve banks’ problems, warns SSM’s Angeloni

One of Europe’s top banking supervisors has sounded a cautious note on the prospects for more bank M&A, as speculation mounts for a new wave of European mergers.

Ignazio Angeloni, board member at the Single Supervisory Mechanism (SSM) and a frontrunner to replace outgoing chair Danièle Nouy, said the European Central Bank (ECB) is not against the possibility of large mergers.

“We want the banking sector to be safe and efficient, to be capable of providing high-quality services to individuals and firms, and ultimately promoting growth and collective welfare,” he tells Euromoney in an interview in Frankfurt.