UniCredit CEO Plans to Evaluate Damages as Libor Probe Proceeds

UniCredit SpA (UCG) Chief Executive Officer Federico Ghizzoni plans to evaluate potential damages caused by the interest-rate fraud in London as regulators continue to investigate rival lenders.

“Let’s see what comes out of this investigation and what road to take,” Ghizzoni, CEO of Italy’s biggest bank, said in an interview on the sidelines of a conference in Rome today. “It’s very difficult to understand, because no one knows today how much and how the interest rates were moved. So it’s impossible today to do an evaluation of this kind.”

To contact the reporter on this story: Andrew Frye in Rome at afrye@bloomberg.net

To contact the editor responsible for this story: Marco Bertacche at mbertacche@bloomberg.net

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