UniCredit Reconfigures Regions in Simplification Push
15 Julho 2021 - 7:49AM
Dow Jones News
By Mauro Orru
UniCredit SpA is reshaping activities in some regions in a bid
to fast track decision making as part of a new structure unveiled
in May by Chief Executive Officer Andrea Orcel.
The Italian bank said Thursday that UniCredit Italia would
manage all operations in the country as a new standalone geography
led by Niccolo Ubertalli.
UniCredit Italia will focus on three business areas, namely
individuals, enterprises, and a corporate-and-investment bank.
"Part of this simplification journey includes the creation of
UniCredit Italia, as a standalone, fully empowered geography,
alongside newly configured activities in Germany, Central Europe
and Eastern Europe," Mr. Orcel said.
"A move that underscores both the importance of our heritage and
roots, but also the strength of our unique and unified pan-European
offering," he added.
Michael Diederich will lead all German operations, with Markus
Beumer and Jan Kupfer respectively heading the enterprises and
corporate-and-investment bank in the country. The bank is yet to
appoint a head for the individuals segment in Germany.
Central Europe, covering Austria, Czech Republic, Slovakia,
Hungary and Slovenia, will be led by Gianfranco Bisagni, with
Teodora Petkova heading Eastern Europe, which includes Bosnia and
Herzegovina, Bulgaria, Croatia, Romania and Serbia.
The announcement comes just two months after UniCredit backed
the creation of a CEO office responsible for strategy and
optimization, and set up a group executive committee of 15 people
to replace the 27-strong executive management committee.
Mr. Orcel, who succeeded Jean Pierre Mustier at the helm of the
bank earlier this year, said reducing complexity and simplifying
UniCredit's structure would be one of his first priorities.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 15, 2021 06:37 ET (10:37 GMT)
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