April 27, 2018 / 3:06 PM / 3 months ago

UBI CEO, chairman sent to trial in governance probe-sources

BERGAMO, Italy, April 27 (Reuters) - The top executives of Italy’s fifth-largest bank UBI Banca were sent to trial with another 28 people on Friday over alleged obstruction of regulators and governance irregularities, legal sources said.

Prosecutors had alleged the running of the bank had been secretly influenced by two groups of core shareholders led by Giovanni Bazoli, honorary chairman of bank Intesa Sanpaolo , and Emilio Zanetti, who are both among those sent to trial.

The bank itself must also stand trial, which is due to start on July 25.

UBI, which in the past has said it had always acted correctly, had no immediate comment.

The shareholder groups are suspected of having unduly influenced the outcome of the 2013 annual general meeting by collecting proxy votes without having previously informed market watchdog Consob and the Bank of Italy. (Reporting by Emilio Parodi, writing by Valentina Za, editing by Francesca Landini)

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