Thirteen former bankers from Monte dei Paschi di Siena, Nomura and Deutsche Bank were sentenced to jail on Friday in Milan.
Judges delivered a seven-year jail term to former Monte dei Paschi managers Giuseppe Mussari and Antonio Vigni, and five years for former Deutsche managers Michele Faissola, Michele Foresti and Dario Schiraldi. Sadeq Sayeed and Raffaele Ricci, former Nomura bankers, were sentenced to between three and five years. Mr Faissola was a senior executive at Deutsche, whose positions included head of asset management and head of commodities and rates. He left the bank in 2015 and became an adviser to Qatar’s al-Thani royal family, the largest shareholder in Deutsche.