UniCredit CEO announced his resignation

As informs Agency Bloomberg with reference to the official statement of UniCredit, Ghizzoni himself and the Board of Directors came to a unanimous decision that the Bank needs a change of Manager. UniCredit thanked the Director General for the work. It is expected that he will continue to perform their duties until the appointment of a successor.

Likely contenders for the post of General Director of UniCredit, the experts referred to the head of the Italian division of Bank of America Marco Morelli, the head of Deutsche Bank Flavio Valeri, chief investment officer UBS Group Andrea Orsey, as well as the former head of the investment Department at Unicredit Jean-Pierre Moustiers.

Ghizzoni became CEO of the Bank in September 2010. During his leadership of UniCredit shares have lost about 76% of the cost. The plan to improve the proposed Ghizzoni in November last year, some investors felt ambitious enough to repay the Bank previous positions.

“It was quite an expected step from the management of UniCredit, as the management has not coped with the problems,” said Bloomberg expert Concentric Italy Massimiliano Romano. According to him, the new CEO will have to take decisive action, including to sell part of the assets and to increase capital.

The UniCredit group was established in 1998 by combining groups Unicredito and Credito Italiano, as well as a number of regional banks. Chairman of the Board of Directors Giuseppe Vita, who also heads the Supervisory Board of the publishing house Axel Springer.