MILAN (Reuters) – Pan-European stock exchange Euronext on Friday said it was “deeply committed” to fostering growth at the recently acquired Milan bourse following reports in the Italian press about impending job cuts at Borsa Italiana.
“Borsa Italiana is a key part of Euronext’s European project. Euronext can’t succeed in Europe if Borsa Italiana’s business in Italy doesn’t grow,” Euronext said in a statement.
Euronext is due to present a strategic plan in November, when its strategy for Borsa will also be outlined.
Euronext kept CEO Raffaele Jerusalmi, who has led the Milan stock exchange for 11 years, in his position after completing the acquisition in April.
But two people close to the matter have told Reuters a new chief executive will be recruited to replace Jerusalmi.
Jerusalmi did not reply to a request of comment.
The 4.4 billion euro ($5.2 billion) deal has turned Italy into the main trading venue for the group.
($1 = 0.8508 euros)
(Reporting by Giulio Piovaccari; editing by Valentina Za and Dan Grebler)
