UniCredit to Name Investment-Banking Head in Next Few Weeks, Nicastro Says

UniCredit SpA, Italy’s biggest bank, will name the new head of its corporate- and investment-banking division in the next few weeks, according to General Manager Roberto Nicastro.

UniCredit will also appoint a new leader for its business in central and eastern Europe after the former head of the division, Federico Ghizzoni, replaced Alessandro Profumo as chief executive officer in September, he said. Sergio Ermotti decided to step down as head of the investment-banking unit after a management shakeup on Oct. 26.

“We are working on the matter,” Nicastro told reporters today while at the Ita-Turk forum in Rome. “The nominations will be made in the next weeks. There are no changes in our strategy.”

UniCredit, based in Milan, expects a “strong contribution” from the CEE division because of the “faster economic growth in the area,” Nicastro said.

To contact the reporters on this story: Alessandra Migliaccio in Rome at amigliaccio@bloomberg.net; Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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