Everything is now going very quickly in the vast area of the banking group Unicredit. Andrea Orcel has only been officially the boss since April, but in a few weeks the investment banker has mixed up a lot: he has rebuilt the structure and given more freedom to the regional subsidiaries. And he drastically reduced the management team at headquarters, the innermost management circle went from 27 to 15 members.
The renovation initiated in Milan is now continuing in Munich. Orcel recently re-headed the supervisory board of the large subsidiary of the Hypo-Vereinsbank group – and has now reassigned two of the six departments of the board under HVB boss Michael Diederich: private clients and finance. In addition, there is a new post on the board of directors “Digital & Information”, as the bank announced on Tuesday. This means that a woman is entering the last all-male management of Germany’s third-largest private bank.
It had been clear for a few weeks that the former head of private clients, Jörg Frischholz, would not keep his post. It is now certain that he will leave the bank and that Marion Höllinger will take over. Höllinger has been with the company since 1991 and until recently was responsible for sales of fresh wood. Ljubisa Tesic also replaces Simone Marcucci as CFO, who moves to the company’s headquarters in Milan. Until now, Tesic has been responsible for the finances of the Group’s activities in Central and Eastern Europe in a dual role in the same position. The post of “Chief Digital & Information Officer” will also be created. In this role, Artur Gruca will initially be responsible for IT at HVB as a general representative and, after approval by the financial supervisory authority, will move to the board of directors. He moved from Milan to Munich.
Angelique Keijsers is also leaving the Dutch Rabobank for Munich as a new person responsible for compliance, i.e. compliance with laws, guidelines and regulatory requirements. At the post, it is located just below the boss of HVB Diedrich. His predecessor Barbara Roth was leaving the bank at his own request, it has been said.
So in Munich you are ready for the new freedom of the group. Orcel should be fine, he already has other things to do – possibly taking over part of the Monte dei Paschi crisis bank, for example.