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Euronext set to appoint MTS CEO at the helm of Milan bourse – sources By Reuters


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© Reuters. FILE PHOTO: Overview of the Euronext inventory change inside in Amsterdam, Netherlands, September 11, 2019. REUTERS/Piroschka van de Wouw/File Photograph

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ROME (Reuters) – Pan-European inventory change Euronext plans at hand the reins of the not too long ago acquired Milan bourse to the present head of the Italian group’s bond platform MTS, two sources near the matter instructed Reuters on Saturday.

The sources stated MTS CEO Fabrizio Testa, 53, was set to switch Raffaele Jerusalmi because the CEO of Borsa Italiana.

Each Euronext and Borsa Italiana declined to remark.

The appointment could possibly be introduced when Euronext unveils a brand new marketing strategy in Milan on Nov. 9.

The information was first reported by Corriere della Sera each day on Saturday.

Euronext – which runs inventory markets in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – accomplished in April its acquisition of the Milan inventory change in a 4.3 billion euro ($5.00 billion) deal that has turned Italy into the principle buying and selling venue for the group and a key income engine.

The takeover of Borsa Italiana, beforehand a part of the London Inventory Trade, has been a delicate political matter in Italy, principally on account of Borsa’s possession of MTS the place Rome’s 2.7 trillion euro authorities bonds are traded.

As a part of the deal, Italian state investor CDP and the nation’s greatest financial institution Intesa Sanpaolo (OTC:) have joined the ranks of Euronext’s core shareholders.

The sources stated that Euronext’s new marketing strategy wouldn’t embrace vital job cuts at Borsa Italiana, opposite to media stories that had raised alarm in Italy over the summer time.

($1 = 0.8593 euros)

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