The banking risk always remains in the foreground in this hot summer, with Piazza Affari which continues to closely monitor developments on the UniCredit-Mps front. And while preparations for the wedding go on, the CEO of the group in Piazza Gae Aulenti, Andrea Orcel, has come up with a new shot to complete his team. Yesterday was the news that Ilaria Dalla Riva will become the head of ‘People & Culture Italia’ starting from 1 October 2021. He will report directly to Annie Coleman, Group People & Culture Officer and to Niccolò Ubertalli, head of UniCredit Italia.
Among his recent positions is that of head of human resources of the Montepaschi Group (Mps) from 2012 to 2019, and then (most recently) from September 2019 to today at the helm of the human resources function for Vodafone Italia. Orcel’s choice fell on a manager who managed the facility in 7 years of stay in Siena in extraordinary situations during which it has been actively involved in the construction of three industrial plans which led to two capital increases and a bail-out procedure by the central government, with full responsibility for reducing labor costs and consequent internal reorganization. An appointment, specify sources close to UniCredit, not linked to the operation with the Treasury but in the event that the operation goes through, Dalla Riva’s experience would represent a precious help.
The due diligence continues, with some issues to be resolved
Meanwhile, rumors continue to recur on the operation announced at the end of July, when the market was informed of the start of negotiations with the Ministry of Economy and Finance (Mef) to take over the commercial part of the Sienese bank. An offer on the Treasury table has not yet arrived, but at this stage it continues and the due diligence is working which should be completed by mid-September, and which will serve to define the scope and conditions of the entire acquisition. And according to some sources, reported by the national press, the due diligence could be concluded by the end of the month.
As anticipated by “The Corriere della Sera”By this week Orcel, who has been with UniCredit since last April, could have the first report on the transaction in his hands. One of the knots in the negotiations with the government remains that of redundancies, recalls the newspaper in via Solferino.
Another topic in the foreground and hot from a political point of view is that of the MPS brand, “Given that in Siena there is a vote for the supplementary parts of the Chamber and the secretary of the Pd Enrico Letta is a candidate – explains“ Corriere della Sera -. In the city, the aim is to save the brand in a 100% local Unicredit bank. But on this the ECB precedents go in the direction of effective consolidation (therefore only one brand) ”. And again the newspaper writes today: “the alternative idea gathered in government circles is to strengthen the brand in the foundation of the same name (CariVerona or Crt are strong in Unicredit, even if the Mps Foundation should not become a partner of the new Uni-Mps)”. The institution could play a role in cultural activities.