Photographer: GIUSEPPE CACACE/AFP/Getty Images
Banking

Unicredit's Mustier Must Be Ruthless

The Italian bank CEO needs bold action to win access to more capital.

Next week, Unicredit Chief Executive Officer Jean-Pierre Mustier is scheduled to present his five-month review of the bank's strategy. To salvage a bank that's seen its market value drop to just 13 billion euros ($14 billion) from almost 40 billion euros in the space of just eighteen months, Mustier needs to become best-in-class -- and that means aggressively shrinking his bank to a more manageable size relative to its country of domicile.

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