(Alliance News) - Following the renewal of the board of directors resolved by the shareholders' meeting, the board of Banca Sistema Spa on Wednesday appointed Gianluca Garbi as chief executive officer, giving him the necessary proxies.

Garbi retains the position of general manager of the bank. "With the resolution, the continuity of Banca Sistema's executive function is ensured," the board announced.

The board also resolved to appoint Giovanni Puglisi to the position of vice chairman and members of the Appointments Committee in the persons of Francesca Granata, Daniele Bonvicini and Maria Leddi.

Banca Sistema's stock is down 0.3 percent at EUR1.44 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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