People Moves
Senior Management Shake-Up at Unicredito

Unicredito Italiano has reorganised its business lines through the appointments of Sergio Ermotti, Paolo Fiorentino, and Roberto Nicastro as deputy chief executives. All three will report directly to the bank’s chief executive officer Alessandro Profumo and will focus on the implementation of the divisional model across the different geographies and in executing the group's strategy across the different business lines. Mr Ermotti will have responsibility for the Markets & Investment Banking, Corporate Banking, and Private Banking divisions. Vittorio Ogliengo will continue to head up Corporate Banking. The Private Banking Division will continue to be run by Dario Frigerio. Mr Fiorentino will oversee the Global Banking Services functions, as well as Legal Affairs, led by Maurizia Angelo Comneno on an interim basis, and Group Identity & Communications led by Marc Beckers who will also retain a direct reporting line to the chief executive with respect to corporate identity strategy development and will become a management committee member. Mr Nicastro will have responsibility for the Retail, Central and Eastern Europe, and the Poland Markets division. Erich Hampel and Federico Ghizzoni continue to lead respectively the CEE and the Poland Markets Divisions. Compliance and Corporate Affairs is now established as a separate governance function reporting to the CEO to signal a strong commitment to maintaining highest compliance standards. Ms Comneno will lead it and will become a management committee member.