MILAN, Nov 27 (Reuters) - Giampiero Auletta Armenise, chief executive at Italy's UBI Banca SpA, has resigned for personal and family reasons, the bank said on Thursday.
Managing Director Victor Massiah will replace Armenise as top executive, UBI Banca, Italy's number-five bank by number of branches, said in a statement.
Massiah will take over on Monday.
Auletta Armenise will keep his seat on the executive board as well as other posts he holds, it said. The board will expand to 11 members from 10.
The bank also has earmarked 1.5 billion euros for loans to small and mid-sized businesses next year, the statement said.
Born in 1957, Auletta Armenise has been chief executive since UBI Banca was formed in April 2007 from the merger of Banche Popolari Unite and Banca Lombarda e Piemontese.
He had headed Banche Popolari Unite's main unit, BPU Banca, from mid-2003 to the merger.
Shares in UBI Banca closed up 0.7 percent at 11.49 euros. The DJ Stoxx banks gauge ended 4.19 percent higher.
(Reporting by Gianluca Semeraro, writing by Ian Simpson; Editing by David Gregorio) Keywords: UBIBANCA/ (ian.simpson@reuters.com; +39 02 6612 9666; Reuters Messaging: ian.simpson@reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Managing Director Victor Massiah will replace Armenise as top executive, UBI Banca, Italy's number-five bank by number of branches, said in a statement.
Massiah will take over on Monday.
Auletta Armenise will keep his seat on the executive board as well as other posts he holds, it said. The board will expand to 11 members from 10.
The bank also has earmarked 1.5 billion euros for loans to small and mid-sized businesses next year, the statement said.
Born in 1957, Auletta Armenise has been chief executive since UBI Banca was formed in April 2007 from the merger of Banche Popolari Unite and Banca Lombarda e Piemontese.
He had headed Banche Popolari Unite's main unit, BPU Banca, from mid-2003 to the merger.
Shares in UBI Banca closed up 0.7 percent at 11.49 euros. The DJ Stoxx banks gauge ended 4.19 percent higher.
(Reporting by Gianluca Semeraro, writing by Ian Simpson; Editing by David Gregorio) Keywords: UBIBANCA/ (ian.simpson@reuters.com; +39 02 6612 9666; Reuters Messaging: ian.simpson@reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.