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"UniCredit board loses faith in Profumo," leads Il Sole 24 Ore, after the CEO resigned from Italy’s No 1 bank. The board of directors censured Profumo for letting Libya take the biggest stake in the bank without apprising them. “Who’s afraid of a maverick bank?” asks the Italian daily. Elsewhere, Milan'sLa Repubblica explains that Profumo, one of the few maverick managers in Italy, had a number of political enemies – starting with the Northern League, whose bid for greater sway in the bank sector he firmly opposed.
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