Banca Monte dei Paschi di Siena (BMPS.MI) deputy chairman Francesco Gaetano Caltagirone will be suspended from his post after being sentenced to over three years in jail for the failed takeover of Banca Nazionale del Lavoro, now part of BNP Paribas SA (BNP.FR), in 2005.

When sentenced to jail, board members of banks are suspended from their posts until a general meeting is called to decide their fate, according to requirements applied by the Italian central bank.

Caltagirone was sentenced earlier Monday. His lawyers are expected to appeal the sentence in coming days.

Neither Banca Monte dei Paschi di Siena nor a spokesman for Caltagirone were immediately reachable for comment Monday.

-By Sabrina Cohen and Alberto Chimenti, Dow Jones Newswires; +39 02 5821 9906; sabrina.cohen@dowjones.com

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