Castagna Hopeful Other Italian Bank Mergers Will Follow

Bloomberg Video

October 17 -- Banca Monte dei Paschi di Siena SpA’s restructuring plan will be crucial in restoring investor confidence in the country’s ailing financial industry with the merger of two regional lenders the possible beginning of a wider consolidation, said Giuseppe Castagna, who will oversee Italy’s third-biggest bank. “The most important thing right now is the Monte Paschi situation,” Castagna, chief executive officer of Banca Popolare di Milano Scarl that won approval to merge with Banco Popolare SC, told Francine Lacqua on "Bloomberg Surveillance."