SIENA, Italy Oct 14 Italian bank Monte dei
Paschi di Siena looked set to rule that newly
appointed Chief Executive Marco Morelli meets good repute
criteria for his position, according to a board member.
Asked whether a board meeting on Friday would rule in
Morelli's favour, the board member said: "Everything is OK."
Morelli, a former chief financial officer at the Tuscan
bank, was fined by the Bank of Italy in 2013 for his alleged
role in misleading regulators over the true nature of a hybrid
financial instrument the bank used to partially fund its
acquisition of regional rival Antonveneta.
He denies any wrongdoing, is appealing the fine and a
judicial investigation against him over the same allegations has
(Reporting by Silvia Ognibene, writing by Silvia Aloisi)