Italian bank Monte dei Paschi di Siena has a new chief executive, Marco Morelli, and his first job is to convince shareholders to approve a €5 billion capital raising and a €28 billion sale of non-performing assets. CNBC reports that Monte dei Paschi was weakest performer in a European bank stress test in 2014 and is calling on investors for funds for the third time in three years. Morelli is moving to Monte dei Paschi from Bank of America Merrill Lynch, where he was head of the Italian operation.