Nagel Sells More Mediobanca Shares, Reaching Total of 53 Million Euros

Milan: Alberto Nagel sold 465,222 shares in Mediobanca worth around 10 million euros on Thursday, the day he resigned as CEO of the Italian merchant bank after failing to stop Monte dei Paschi di Siena’s takeover. That took the value of the total amount of stock he has cashed in over the last few days to over 53 million euros.

According to Ansa News Agency, other members of the board who quit alongside Nagel have also been selling the stock they were given for the bank’s performance in recent years, including Chairman Renato Pagliato. Pagliato, however, will remain in his position until the general meeting of October 28. The recent developments mark a significant transition for Mediobanca as it navigates leadership changes and strategic challenges in the wake of Monte dei Paschi di Siena’s takeover.