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UniCredit’s Annunziata to Leave Bank for Job in U.S.

UniCredit Bets on Czech Republic
A UniCredit SpA logo is seen on one of the bank's branches in Rome. Photographer: Alessandra Benedetti/Bloomberg

Nov. 30 (Bloomberg) -- UniCredit SpA Chief Economist Marco Annunziata said he will leave Italy’s biggest bank by the end of 2010 and move to the U.S. for a new job.

“I will leave UniCredit at the end of the year to pursue a new exciting professional challenge, U.S.-based,” Annunziata, 45, said in an e-mail today. He declined to elaborate.

Annunziata, who reports to Thorsten Weinelt, the global head of research and chief strategist, is departing for personal reasons and the lender is seeking a replacement, a spokeswoman for UniCredit said.

Annunziata, who joined the company from Deutsche Bank AG in 2003 and previously worked for the International Monetary Fund, oversaw economics, fixed-income and foreign-exchange research in the London office of UniCredit.

The Milan-based bank is reorganizing after a management shakeup that started with Chief Executive Officer Alessandro Profumo’s departure in September. The company now plans to name a new head of corporate and investment banking after Sergio Ermotti stepped down in October and it’s seeking a new head of its business in central and eastern Europe after Federico Ghizzoni replaced Profumo.

To contact the reporters on this story: Lorenzo Totaro in Rome at Elisa Martinuzzi in Milan at

To contact the editors responsible for this story: John Fraher at Edward Evans at

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