Part of a huge turnaround plan.
UniCredit is a major international financial institution with strong roots in 22 European countries and an overall international network present in approximately 50 markets.
Aberdeen Asset Management abandoned a bid for UniCredit’s Pioneer Global Asset Management because the $3.7bn price was too high, Aberdeen Chief Executive Officer Martin Gilbert said.
'It would be too complex in the current regulatory environment'.
Italy's largest bank UniCredit is seeking a strategic partner for its asset management business Pioneer, as part of a plan to bolster its capital base, several sources close to the matter said on Wednesday.
The UniCredit Board of Directors, further to the recommendation of the Nomination Committee, has approved a new organisational structure aimed at simplifying the Group, establishing a more efficient operational set-up, clarifying roles and responsibilities of senior management and bolstering accountability through shorter reporting and decision making lines.
Big banks are nearly half a trillion dollars in the hole.
UniCredit has appointed French investment banker Jean-Pierre Mustier as its chief executive on Thursday, a choice that is likely to lead to a multi-billion euro capital increase and asset sales to boost the bank's financial strength.
UniCredit’s decision to replace CEO Federico Ghizzoni after almost six years at the helm paves the way for a strategy review that may include a capital increase and asset sales, according to analysts.
'There is a 90% probability'.
UniCredit's new business plan envisages 12,000 job cuts worldwide, a source close to the matter said on Friday, indicating a larger reduction compared with 10,000 layoffs that had been expected.
The urge to merge ?
The Financial Times reports that BlackRock boss / co-founder Larry Fink is a phone friend of U.S. Treasury Secretary Tim Geithner.
Unicredit was left with a red face this morning, as it was forced to admit it had accidentally published its third-quarter results more than two weeks before planned.
Italian banking giant Unicredit has agreed to sell off a big portion of its book of bad loans to US investors Pimco and Fortress, in its latest step to leave the legacy of the Eurozone debt crisis in the rear-view mirror.
UniCredit has confirmed it racked up losses worth billions of euros during a difficult 2016.