SIENA, Italy The outgoing chief executive of Monte dei Paschi di Siena said he did not expect his resignation to affect a 5 billion euro ($5.6 billion) rescue plan at Italy's third largest bank.
Monte dei Paschi said on Thursday that CEO Fabrizio Viola had agreed to step down and a replacement would be found quickly, as the bank readies its third cash call in as many years and a record sale of bad loans.
"I don't believe it will," Viola told journalists when asked if he thought his resignation would have an impact on the emergency plan needed to stave off the risk of the lender being wound down.
Viola said a successor had not yet been found. A source with knowledge of the matter said earlier on Thursday Bank of America Merrill Lynch's Italy head Marco Morelli was likely to be Viola's replacement.
Leaving the bank after a board meeting, Chairman Massimo Tononi said Viola's departure was unexpected.
"I'm very sorry, I've worked very well alongside Fabrizio and I wished we could have continued to do so. However our task now is to find very quickly a new chief."
($1 = 0.8890 euros)
(Reporting by Silvia Ognibene)