TORONTO, April 18, 2016 /CNW/ - Today, the International Banking Mergers Blog updates its archive with a detailed overview of Italy's Banca Monte dei Paschi di Siena – one of the world's oldest and largest banking establishments. This update complements an extensive chronicle of other banking merger records available on the website.
"Banca Monte dei Paschi di Siena, established in 1472, is one of Italy's largest banks, which also claims to be the world's oldest bank. Over the centuries, the bank has experienced many ups and downs and is an interesting case for anyone interested in the history of modern banking's Renaissance origins, as well as the impacts of the much more recent EU common-market policy and the global financial crisis that began in 2008," said Swire Chin, the owner and webmaster of the International Banking Mergers blog and longtime banking industry observer.
"The recent troubles at MPS provides an important lesson for bank management around the world," added Chin, "for centuries MPS was renowned for its conservative management, but its USD $13.2-billion purchase of Banca Antoveneta and involvement with derivative-trading when the global financial crisis was already under way were proofs that bigger doesn't mean better, and management must always exercise logic and reasons over emotions when planning for the long term."
More information about Banca Monte dei Paschi di Siena can be found on the International Banking Merger Blog:
About the International Banking Mergers Blog
The International Banking Mergers Blog is a Canadian-based website that specializes in recording the banking M&A history of over 70 of the world's most well-known banks. The information is provided for free and is used by academic researchers, journalists, business historians and the financial services industry around the world. The International Banking Mergers Blog started in 2009 and has since published close to 80 articles and is one of the top banking history resources available today. For a full list of all banking history available on the International Banking Mergers Blog, please visit its website at: http://bankingmergers.blogspot.ca/
SOURCE International Banking Mergers Blog
For further information: Swire Chin, Email: email@example.com, Phone: 416-938-7570