Monte Paschi’s Di Stefano Quits Board Over Probe Against Him

Banca Monte dei Paschi di Siena SpA board member Stefano Di Stefano is leaving the bank shortly after a news report that he’s under investigation for alleged insider trading linked to Monte Paschi’s takeover of Mediobanca SpA last year.

Di Stefano “resigned from office today, with immediate effect, for personal reasons and in connection with the commencement of investigations concerning him,” Monte Paschi said in a statement on Wednesday. It thanked him “for the service rendered in his capacity as a member of the Board of Directors throughout these years.”