UniCredit creates UniCredit Italia, Orcel: “Focus on the bank”

MILANO – New and incisive steps have been decided in the process of simplifying the operational structure of the UniCredit group, in order to reduce overlaps and complexity. With the applause of the banking sector unions. The main novelty of the new structure wanted by CEO Andrea Orcel and announced is the birth of UniCredit Italia, confirming the “crucial” importance of the country “in which the roots, essence and spirit reside” from which the UniCredit Group. Italy, therefore, as Orcel himself explained in a note, 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 has no equal “.

«From the beginning of this journey together – Orcel pointed out in a letter to the employees – I promised you that we would simplify our business. I did it because I know it is essential to do it to work efficiently and serve our customers in the best possible way. I did it also because you asked me so insistently, first of all you, the people who know this bank better than anyone else. You have expressly asked me to remove the series of bureaucratic processes that slow you down and prevent you from doing your job at best ”.

“It’s easy to let this kind of complexity develop over time, in good faith, but it’s harmful to a business like ours. For too long – he noted – UniCredit has operated despite its structure, rather than thanks to it. The bank, and all the extraordinary people who work there, have not had the opportunity to exploit their full potential. Every success has been an arduous achievement ».

“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 strive to unleash our potential”, the CEO wrote again, adding that ” the first step to go in this direction must be the removal of any superfluous structure, any process or intermediate layer that blocks us or that only acts as an intermediary between activities and people who should instead communicate directly ». A first step that “will bring its fruits, its dividends, to everyone”.

“These changes – he concluded – are only the beginning: our journey is in constant evolution and the changes are part of a general reorganization that we are committed to carrying out”.

The leadership of the new UniCredit Italia – which includes all the Italian activities of the group and which is “equipped with all the necessary levers to best support and satisfy the specificities of the territories and the different local needs” – was entrusted to Niccolò Ubertalli, appointed Head of Italy. The business areas on which it 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 (Cib Italia) area, led by Alfredo De Falco.

Customers are served by two complementary networks for the distribution of services and products: the Physical Distribution Network, which guarantees proximity and relationship services throughout the territory and is organized in 7 Regions (North West, Lombardy, North East, Center-North Italy , Central Italy, Southern Italy and Sicily) and the structure dedicated to Alternative Distribution Channels, which deals with remote channels, UniCredit Direct, buddybank and Atm.

The first line of each business and geographical area has been “redesigned to reduce overlap and complexity, while maintaining well-defined control and supervision functions, with the aim of further improving overall efficiency”. The individual structures are redesigned with the aim of “guaranteeing faster levels of execution and decision-making skills as well as promoting operational excellence, facilitating even stronger links between management, customers and the communities in which the bank operates”.

As for Germany, all activities on the German market are led by Michael Diederich as Head of Germany and the management board of Hvb. As in all the autonomous geographical areas of the Group, the assignment of responsibilities to the management board will reflect the structure of the GEC (the Group Executive Committee, made up of 15 members, of which 6 are women) and will report functionally to it. Markus Beumer and Jan Kupfer respectively lead the areas dedicated to Businesses and Cib Germany; the new head of the Individuals area will be announced in the coming weeks.

As regards the area of ​​Central and Eastern Europe (EEC) Europe: Central Europe includes Austria, the Czech Republic, Slovakia, Hungary and Slovenia under the leadership of Gianfranco Bisagni; Eastern Europe, led by Teodora Petkova, includes Bosnia and Herzegovina, Bulgaria, Croatia, Romania and Serbia. The CEOs of the banks in the individual countries remain unchanged. The Retail CE & EE structure, led by Pierre Yves Guegan, and the CIB CE & EE structure, led by Fabio Fornaroli, report to Gianfranco Bisagni and Teodora Petkova, who also hold joint responsibility for Russia.

All the geographies of the Group (Italy, Germany, Central and Eastern Europe) are equipped with dedicated support functions such as: People and Culture, Finance, Digital & Information Office and Operations. In addition, structures dedicated to the individual geographies have been created within the Compliance, Legal and Risk functions.

Orcel’s new moves have received an initial appreciation from the trade unions. “The post-Mustier period has finally begun, even if the new management team has been working for some time for a real simplification and better efficiency of the internal organization,” commented Fabi’s general secretary, Lando Maria Sileoni. “In every banking group, single men in command will not be enough, but a professional and up-to-the-minute executive class will be needed that knows how to give concrete answers on the issue of commercial pressures, on compliance with the national contract, on smart working, on technological innovation and above all that he knows how to respect workers not only in words as unfortunately happens in some banking groups », he added.

Source: RSS DiariodelWeb.it Economia by www.diariodelweb.it.

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