July 16, 2012 / 2:48 PM / in 5 years

Intesa's deputy CEO Morelli to leave bank

MILAN, July 16 (Reuters) - Italian bank Intesa Sanpaolo said on Monday Marco Morelli, its deputy manager to the chief executive, was leaving the group to pursue “new professional opportunities.”

Morelli had taken the reins pending the appointment of a new CEO after Corrado Passera left the bank to become minister of economic development in November in the unelected government of Prime Minister Mario Monti.

Former Allianz manager Enrico Cucchiani replaced Passera as CEO at the end of November, ending a stalemate which, according to sources, saw the bank’s shareholder foundations favouring an internal candidate and the influential supervisory board chairman Giovanni Bazoli pushing to hire somebody from outside. (Reporting by Philip Baillie)

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