The Wealth Management & Private Banking (WM & PB) division of the Unicredit group is born in Italy. Stefano Vecchi will be at the helm from 1 October, assuming the new role of Head of Wealth Management & Private Banking Italy. Vecchi will report directly to Niccolò Ubertalli, Head of UniCredit Italy and will be responsible for the Italian network of Wealth Management and Private Banking serving 140 thousand customers, for a total of over 100 billion euros in assets. The network is made up of a team of around 1,400 employees, of which 700 Relationship Managers located in 132 cities throughout Italy.
The new Italian division, Unicredit points out in a note, makes it possible to accelerate growth within these business lines and to further improve the quality of UniCredit’s offer. To facilitate simplification, UniCredit is moving to a Wealth configuration
Management & Private Banking on a regional basis for Italy, Germany, CE and EE.
The new WM & PB division joins the other three business areas of UniCredit Italia dedicated to customers: Individuals, Corporates and Corporate & Investment Banking Italy.
“With the creation of a dedicated WM & PB division – said Niccolò Ubertalli, Head of UniCredit Italy – the Group confirms its attention to HNW and UHNW customers who are looking for highly personalized service management incorporated into the unique offer of a pan-European commercial bank. The new approach aims to increase the focus on our offer of excellence and consulting services through an integrated platform provided by our bankers. Stefano Vecchi has a long experience as a top manager in the best companies in the sector. I am confident that the his professionalism and deep knowledge of the wealth sector will continue to be a key asset for the division and will help us thrive as a bank ”.
Private Banking, Wealth Management and Ultra-high Net Worth families and family holdings will report directly to Stefano Vecchi. In addition, the Italian Investment Management, Investment Services and Investment Products functions will report to Stefano Vecchi and the CIB division, headed by Richard Burton.