Capitalia's Arpe Leaves After Producing Annual Market Gains of 53 Percent

(Bloomberg) -- No chief executive officer of an
Italian bank has done more for shareholders than Matteo Arpe. At
the end of the month, Arpe will be out of a job.

Arpe will exit Rome-based Capitalia after generating annual
stock market returns of about 53 percent since he became CEO in
2003. His departure follows UniCredit SpA's agreement yesterday
to buy Capitalia for 21.8 billion euros ($29.5 billion), creating
the third-largest bank in Europe by market value.


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