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UniCredit Names New Asset Management CEO

Wendy Spires Deputy Editor 11 December 2009

UniCredit Names New Asset Management CEO

UniCredit, the Milan-based financial services group, has named Roger Yates - the former chief executive of Henderson Group - as the new CEO of its asset management division, Pioneer Investments.

Mr Yates will assume leadership of Pioneer in mid-January 2010, succeeding outgoing head Dario Frigerio who is reportedly leaving the firm for personal reasons at the end of January.

During his time as CEO of Henderson Group, between 1999 and 2008, Mr Yates oversaw the firm’s demerger from its Australian parent, along with developing several new business lines for the UK asset manager. Prior to joining Henderson he was chief investment officer at Morgan Grenfell and LGT / Invesco Global.

According to November Reuters report, which cited unnamed sources, UniCredit’s board is meeting this month to consider reorganising its Italian business in a move which will integrate private banking into the group holding.

UniCredit is thought to be mulling the integration of UniCredit Banca, Banca di Roma, Banco di Sicilia, private banking and corporate banking into the group holding as part of a long-held desire to streamline its operations in Italy.

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