Christine Licci, head of German bank HVB’s private clients and private banking, has resigned, according to reports in the local press. Ms Li...

Christine Licci, head of German bank HVB’s private clients and private banking, has resigned, according to reports in the local press. Ms Licci is to leave the bank after an internal power struggle, according to one report. Ms Licci sat on the board of HVB and was considered one of the most powerful women in German banking. HVB is currently in the process of a number of managerial changes since its acquisition by Italy’s UniCredito. Ms Licci is understood to have wanted to be in charge of HVB in Germany, but insiders reported it had been apparent for some time that her ambitions clashed with, among others, those of Alessandro Profumo, UniCredito's chief executive. The new HVB/UniCredito entity is to headquarter its private banking business in Milan.