UniCredit is looking for a new boss – several candidates in the running

finance

UniCredit is looking for a new boss - several candidates in the running

The Italian Bank Austria parent UniCredit is looking for a boss. According to the “Financial Times”, Niccolo Ubertalli, Co-CEO for the CEE region, is a favorite in the race to succeed the Frenchman Jean-Pierre Mustier to lead the banking group. Ubertalli was appointed Co-CEO for the CEE region with Gianfranco Bisagni in March 2019 after serving as Vice-CEO at UniCredit's Turkish subsidiary Yapi Kredi Bank.

The UniCredit Supervisory Board is examining the candidates for successor Mustier on Wednesday, who will leave the bank when his mandate expires in April. In addition to Ubertalli, the former UBS investment banker Andrea Orcel, the former Credit Suisse boss Tidjane Thiam and ex-Commerzbank CEO and UBS board member Martin Blessing are possible candidates for Mustier's successor. The headhunter “Spencer & Stuart” is currently reviewing the profiles of suitable candidates.

The procedure for the appointment of the new CEO has reached a good point, assured the outgoing UniCredit board chairman Cesare Bisoni in an interview with the Milan daily “Sole 24 Ore” (Wednesday edition). Bisoni will be replaced in April by former Economics Minister Pier Carlo Padoan. “The passport of the new CEO is not relevant – we are looking for a candidate with in-depth knowledge of the banking sector in all its facets,” said Bisoni.

The bank wants to maintain its international profile. “UniCredit's European identity is not in question. This banking group is a great resource for Italy and Europe and we must be proud of it,” said Bisoni.

The unions want an Italian boss for UniCredit. “We want an Italian manager who is not aggressive and does not close any branches, should it come to a merger with Monte Paschi di Siena,” said the general secretary of the trade union organization FABI, Lando Maria Sileoni. According to indiscretions, the government is pushing for the Bank Austria parent company to merge with the nationalized Tuscan bank Monte Paschi.

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