Unipol’s CEO reassures Siena that Montepaschi’s headquarters will stay local and no layoffs are planned, with Tuscany’s governor citing positive signals
Executive summary: Unipol president Carlo Cimbri reassured Siena that Montepaschi’s seat will stay in the city and that there will be no layoffs, while Tuscany governor Eugenio Giani noted positive signals regarding the bank’s future. The statements seek to shore up confidence in Montepaschi during a period of negotiations with Intesa Sanpaolo and an antitrust examination, influencing regional banking stability and credit availability in Tuscany.
Who is involved: Carlo Cimbri (Unipol president), Eugenio Giani (Tuscany governor), Monte dei Paschi di Siena, Intesa Sanpaolo, Italian Antitrust Authority (AGCM).
Likely next: The AGCM will advance to phase two of its review of Intesa Sanpaolo’s Opas on Montepaschi; Unipol may consider further support measures; Tuscan officials could announce additional financing packages for Siena‑based banks.
Carlo Cimbri, president of Unipol, told Siena’s authorities that the Monte dei Paschi di Siena (MPS) headquarters will remain in the city and that no job cuts are envisaged, while Tuscany governor Eugenio Giani described the outlook as positive. The remarks aim to calm concerns amid ongoing takeover talks with Intesa Sanpaolo and an impending antitrust review of that operation.
Timeline
- — Cimbri rassicura Siena sulla sede e i prestiti. Giani: “Segnali positivi” (la Repubblica — Economia)
- — Unipol, l’ad Cimbri sull’Opas con Intesa: “La sede di Mps rimarrà a Siena, nessun licenziamento” (la Repubblica — Economia)
- — Intesa va avanti su Siena il piano non cambia al vaglio solo piccoli ritocchi (la Repubblica — Economia)
- — Rilancio o cessioni: la strategia di Siena per fermare Intesa (la Repubblica — Economia)
- — Unipol, la lunga traversata di Cimbri da Bologna a Siena per far nascere la seconda banca italiana (la Repubblica — Economia)
- — Scacco matto di Intesa in direzione Siena (la Repubblica — Economia)
Analysis — what this means
Sectors affected
- Italian regional banking (Monte dei Paschi di Siena)
- Tuscan financial services
Regulatory implications
- Italian Antitrust Authority (AGCM) phase-two review of Intesa Sanpaolo’s Opas on Montepaschi, assessing market concentration and overlapping insurance assets.
Historical parallels
- Unipol ad Cimbri’s 2026-08-28 statement guaranteeing Montepaschi’s Siena headquarters and no layoffs (archive)
- Intesa Sanpaolo’s 2026-06-13 offer of €30 billion for Montepaschi (archive)
- Unipol’s 2026-06-13 plan to raise €2.5 billion for a second banking pillar (archive)
Key entities
Sources
- Cimbri rassicura Siena sulla sede e i prestiti. Giani: “Segnali positivi” — la Repubblica — Economia
- Unipol, l’ad Cimbri sull’Opas con Intesa: “La sede di Mps rimarrà a Siena, nessun licenziamento” — la Repubblica — Economia
- Intesa va avanti su Siena il piano non cambia al vaglio solo piccoli ritocchi — la Repubblica — Economia
- Rilancio o cessioni: la strategia di Siena per fermare Intesa — la Repubblica — Economia
- Unipol, la lunga traversata di Cimbri da Bologna a Siena per far nascere la seconda banca italiana — la Repubblica — Economia
- Scacco matto di Intesa in direzione Siena — la Repubblica — Economia
Related cases
- Italy opens talks with Crédit Agricole over Monte dei Paschi sale as political pressure mounts for a domestic buyer
- Intesa Sanpaolo’s plan to acquire Montepaschi di Siena moves forward with only minor tweaks, while alternatives are seen as riskier
- Unipol's Cimbri pushes for a second Italian bank via €2.5bn stake acquisition
- Intesa Sanpaolo commits €30 billion to acquire Montepaschi, reshaping Italy’s banking landscape