(ANSA) - Gianpiero Fiorani has resigned as chief executive of Banca Popolare Italiana after a new strand was added to judicial investigations into his bank's attempt to buy the bigger Banca Antonveneta.
BPI announced that Fiorani was quitting on Friday evening, just hours after it emerged that Milan prosecutors were investigating him for allegedly false declarations about himself and his personal property.
They are already investigating allegations that he resorted to price-fixing, insider trading and hindering the work of market regulators as he tried to engineer a takeover of Banca Antonveneta.
On the basis of these alleged crimes, prosecutors suspended Fiorani from his post on August 2, effectively snuffing out all hope of BPI achieving its goal. Fiorani, 46, let it be known that his resignation was "irreversible". Sources at BPI said the decision was taken "in the interests of the bank".
The bank's board met on Saturday morning to discuss Fiorani's resignation but directors were believed to have take no decisions on the future. The chief executive's departure came at the end of a week which saw his bank definitively give up its bid for Antonveneta. On Thursday the board approved the sale of BPI's 30% stake in the northern bank to Dutch rival ABN Amro for 26.5 euros a share.
The sale ended a six-month battle marred not only by judicial investigations but also by a scandal involving Bank of Italy Governor Antonio Fazio, accused of favouring BPI over ABN Amro.
Leaked transcripts of wiretapping evidence involving Fazio and his close friend Fiorani triggered a scandal this summer by appearing to lend weight to accusations that the governor has discriminated against foreign banks.
In one of the transcripts, Fiorani said he was "moved" after Fazio told him he had approved BPI's bid for Antonveneta. "I've got goosebumps ...I'd kiss you on the forehead," Fiorani said.
Fazio has refused to resign over the scandal, insisting he has done nothing wrong .
It is unclear when the financier made the allegedly false statements which form the basis of the new accusations against him. It is possible that they were declarations Fiorani made to Milan prosecutors themselves at the start of their investigations.
In recent days finance police have raided the offices of companies and professionals linked to Fiorani, although not under investigation themselves. The objective of the raids was reportedly that of establishing the scale of the assets and financial resources owned by the BPI's chief and their
managers.
