Unicredit reshuffle sees Ermotti quit October 26, 2010 UNICREDIT SpA’s top investment banker Sergio Ermotti will leave the bank after being passed over in a management reshuffle, the first casualty of a revamp that followed the appointment of a new chief executive. UniCredit’s board yesterday named retail chief Roberto Nicastro as sole general manager at Italy’s largest bank – a move which paved [...]
Unicredit reshuffle sees Ermotti quit October 26, 2010 UNICREDIT SpA’s top investment banker Sergio Ermotti will leave the bank after being passed over in a management reshuffle, the first casualty of a revamp that followed the appointment of a new chief executive. UniCredit’s board yesterday named retail chief Roberto Nicastro as sole general manager at Italy’s largest bank – a move which paved [...]
UniCredit CEO resigns after Libyan crisis September 21, 2010 UniCredit chief executive Alessandro Profumo resigned yesterday, his high-flying tenure at Italy’s biggest bank halted by a row over Libyan shareholders and lagging results. Profumo, Europe’s longest-serving bank chief, had steered UniCredit’s rise from a regional bank to a pan-European player with operations in 22 countries. Analysts say his departure could leave Italy’s most international [...]
UniCredit boss Profumo set to resign today September 20, 2010 UniCredit chief executive Alessandro Profumo is expected to hand in his resignation today after tensions over stake-building by Libyan groups in the bank boiled over. Profumo has been accused by some Italian shareholders and politicians of letting Libya increase its stake in the bank without informing other top managers. It was not immediately clear, however, [...]
UniCredit starts hunting for permanent chief after Alessandro Profumo quits September 23, 2010 ITALY’S biggest bank UniCredit took a first step in picking a replacement for its chief executive yesterday, who resigned this week after a power clash with shareholders. The board’s strategic, governance and remuneration committees began to prepare the criteria for a successor to Alessandro Profumo, but there is still no list of candidates, said a [...]
UNICREDIT CHANGEOVER September 22, 2010 Italian banking group UniCredit confirmed yesterday that Alessandro Profumo has resigned as the group’s chief executive after a row over Libyan investment in the bank. UniCredit’s board has transferred the executive powers to chairman Dieter Rampl, who will lead the group until a new CEO is appointed. The board has also given Rampl the mandate [...]
HSBC axes its Russian retail banking unit April 25, 2011 HSBC has become the latest international lender to pull the plug on its retail operations in Russia, as foreign banks struggle to crack the dominance of the country’s state-backed giants. The London-based bank’s exit follows that of Barclays, which quit its Russian retail banking operation last month. Barclay’s boss Bob Diamond said at the time [...]
Austrian firm lists despite lower price April 7, 2011 AUSTRIAN aluminium group AMAG has raised €366m (£320m) in the first Vienna listing since October 2007. The manufacturer sold at €19 per share, at the bottom end of its anticipated price of between €19 and €24. The range was narrowed earlier this week to between €19 and €21, amid tough market conditions for initial public [...]
Europe suffers in Middle East unrest February 21, 2011 EUROPEAN shares fell sharply yesterday after unrest in Libya fuelled concern over energy supplies and sapped investor risk appetite, with Italian stocks among the hardest hit. A rise in the level of violence between protestors and the government of autocratic Libyan leader Muammar Gaddafi over the weekend prompted a broad-based share pullback across the region, [...]
Unicredit puts heat on Libyan investors September 6, 2010 ITALY’S biggest bank UniCredit will ask Libyan investors to show they are independent shareholders, chief executive Alessandro Profumo said yesterday, after their stakes triggered concern among some politicians. Libya’s sovereign wealth fund took a 2.075 per cent stake in UniCredit in late July, joining the Central Bank of Libya as a top shareholder. The two [...]