MILAN (Reuters) - BPER Banca said its newly elected board would meet later on Friday to appoint a new chief executive, as former UniCredit (LON:0RLS) manager Gianni Franco Papa prepares to take the reins at Italy's fourth-largest bank.
Papa, 68, was a former general manager at UniCredit and had already been sitting on BPER's outgoing board.
Papa has been selected by BPER's top investor Unipol, an insurance group which owns a stake of nearly 20% in the bank, to replace Piero Montani.
Montani is a restructuring expert who arrived at BPER in 2021, brought in by Unipol to oversee the integration of businesses the group had bought in recent years.