A carve out of Monte dei Paschi di Siena, the bank will look to grow its partnerships with independent financial advisors

NEW YORK, June 2, 2026 /PRNewswire/ -- J.C. Flowers & Co. ("J.C. Flowers"), a private investment firm dedicated to investing in the global financial services industry, announced today that it has acquired Monte Paschi Banque SA ("the Bank"), a French lending specialist. Monte Paschi Banque was formerly the French subsidiary of Monte dei Paschi di Siena and will subsequently undergo a name change. Terms of the transaction were not disclosed.

With offices in Paris, Marseille, Nice, Lyon and the south of France, the Bank will look to create partnerships with independent financial advisors (IFAs) to target clients with niche product offerings such as mortgages, Lombard loans, other asset-backed credit, and deposit products. At the same time, the Bank intends to leverage its existing customer base, particularly among real estate owners and entrepreneurs, and to expand its tailored product offering providing specialized working capital solutions in the French market.

Leading the new organization will be Chief Executive Officer Michele Antognoli, who combines a longstanding retail banking career with an entrepreneurial background. Mr. Antognoli most recently served as CEO of BFF Spain, a subsidiary of BFF Banking Group. Joining him will be Deputy CEO and Chief Commercial Officer Garo Filibosoglu, who will lead business development. Mr. Filibosoglu formerly served on the management board of Crédit Foncier et Communal d'Alsace et Lorraine (CFCAL).

The Bank also named Mr. Howard Davies as Chairman of the Board of Directors. Mr. Davies is the former Chairman of NatWest Group and the UK Financial Services Authority, and currently also serves as Chairman of Inigo Ltd and Qivalis NV. 

"J.C. Flowers is proud to be one of the few firms that has the operational and sector-specific skills, backed by a proven track record, to undertake a broad transformational bank turnaround that will reposition the Bank in the French market," said Ilinca Rosetti, Operating Partner of J.C. Flowers. "We look forward to working with all the Bank's personnel to develop new clientele and to broaden its product offerings to address the needs of today's customers."

J.C. Flowers' past experience building successful financial institutions from carve-outs includes First Bank in Romania, HCOB in Germany, and Fidea in Belgium.

Ms. Rosetti will serve as a Director of the Bank, along with Thierry Porté, Managing Director and Vice Chairman at J.C. Flowers.

About J.C. Flowers & Co.
J.C. Flowers & Co. is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $18 billion of capital, including co-investment, in 73 portfolio companies in 19 countries across a range of industry subsectors including insurance and reinsurance, banking, securities firms, specialty finance, services and asset management. With approximately $5 billion of assets under management, J.C. Flowers & Co. has offices in New York, London and Miami. For more information, please visit www.jcfco.com.

Media Contact for J.C. Flowers:
Jennifer Hurson
Jennifer.hurson@llyc.global

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SOURCE J.C. Flowers & Co.