New step forward in the reorganization of Unicredit by Orcel. After the appointment of a new Group Executive Committee (GEC), the revision of the first line of management was announced today “to reduce overlap and complexity, while maintaining well-defined control and supervision functions, with the aim of further improving efficiency overall, ”according to a note.
Part of this simplification process includes the creation of UniCredit Italia, which becomes an autonomous geography with full powers, alongside Germany, Central Europe and Eastern Europe. “A choice that underlines not only the importance of our heritage and our roots, but also the strength of a perfectly integrated pan-European business model, which is unparalleled,” says Orcel.
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The new organization chart
The new UniCredit Italia is led by Niccolò Ubertalli, who has been appointed Head of Italy. The business areas on which the new UniCredit Italia will focus are: the Individuals area, led by Barbara Tamburini, which caters to mass market, affluent and private customers; the Business area, led by Andrea Casini, which manages small, medium and large companies; the Corporate and Investment Banking Italy area (CIB Italia), led by Alfredo De Falco.
The physical network is organized in 7 Regions: North West, Lombardy, North East, Center-North Italy, Central Italy, South Italy and Sicily.
In a letter sent to employees, Orcel also – essentially – ruled out extraordinary short-term transactions: “At the moment, I want to focus on our Bank, on the resources within our Group: this is where our true value lies, and for this we must commit ourselves to unleash our potential ».