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Top BPER investor puts forward Gianni Franco Papa as new CEO of bank

Italy's BPER Banca CEO Piero Montani presents a new business plan

MILAN (Reuters) - BPER Banca's largest investor on Friday put forward former UniCredit executive Gianni Franco Papa as the candidate to take the top job at Italy's fourth-largest lender.

BPER shareholders will meet to name a new board on April 19.

The bank's top investor, insurer Unipol, is proposing replacing CEO Piero Montani, a turnaround expert that BPER brought in to oversee integration of businesses it bought in recent years.

Unipol, which owns nearly 20% of BPER, said it would submit a slate of seven candidates for the bank's board, including Gianni Franco Papa, who already sits on BPER's board, as the first name on its proposed list.

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It is customary that if the list is voted, the first candidate on it is designated as CEO of the bank.

Gianni Franco Papa, 67, was a former director general at UniCredit, where he held various senior roles mostly in Eastern Europe, before joining BPER's board in 2021.

Unipol, which also holds around 20% of smaller bank Banca Popolare di Sondrio, has been working to widen BPER's footprint to secure a bigger distribution network for its products.

(Reporting by Andrea Mandalà; Editing by Gianluca Semeraro and Shounak Dasgupta)