Bloomberg The Bank of Italy replaced its second-highest official and named two new members to its top body following months of tense relations with a populist government that questioned its record on banking supervision. Fabio Panetta, 59, has been promoted to director general to succeed Salvatore Rossi, who told staff this month he didn’t intend to stay beyond the expiration …

Bloomberg Morgan Stanley President Colm Kelleher, who helped navigate the firm through the financial crisis and was once seen as a potential successor to Chief Executive Officer James Gorman, plans to depart at the end of June. Kelleher, 61, will continue as a senior adviser after his official retirement, according to an internal memo Gorman sent employees. “I am extremely …

Bloomberg New York’s financial regulator is asking two Nordic banks for detailed information about their transactions with Danske Bank A/S as part of a burgeoning investigation into global money laundering, according to a person familiar with the matter. The two banks, Nordea Bank Abp of Finland and SEB AB of Sweden, must also give New York’s Department of Financial Services …