Stefano Di Stefano has resigned as a director of Monte dei Paschi, Italy's third-largest bank, following an investigation by prosecutors into allegations of insider trading. The Milanese lender confirmed the departure in a brief statement, noting that Di Stefano stepped down after authorities opened an inquiry into his trading activities.

The resignation comes at a sensitive time for Monte dei Paschi, which has been working to restore its reputation after multiple scandals and government bailouts. The bank, founded in 1472, has undergone significant restructuring in recent years under CEO Luigi Lovaglio, who took the helm in 2021 with a mandate to clean up operations and improve governance.

Di Stefano's departure highlights the ongoing challenges facing Italian financial institutions in maintaining compliance and public trust. The insider trading investigation adds another layer of scrutiny to Monte dei Paschi's operations as it attempts to position itself as a stable regional lender. The bank has not disclosed whether Di Stefano's resignation is permanent or temporary pending the outcome of the investigation.