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UniCredit boss is restructuring the holding company

Some employees are retiring early and young people are being hired. You want to improve the performance of the company.

Uncredit boss Andrea Orsel wants to restructure his bank’s holding company. According to the daily “Il Messaggero” (Sunday edition), Orcel said it planned to simplify the structure of Bank Austria’s parent company.

“For three years we worked on improving the efficiency of the company, reducing bureaucracy and simplifying processes. We hired young people and raised salaries. The part that lagged behind was the holding company, which was too bloated by the excessive control of central structures,” Arcel said.

“Some employees will retire early and we will ask whether others are interested in training in other functions or in more effective networking,” explained the banker, who will head the Austrian bank from 2021. Mother stands up.

No change for 14 years

“Unicredit has not implemented any organisational changes that have had a direct impact on performance in over 14 years. Much of this restructuring is now complete and the benefits are clearly visible in results and customer service. (…) We have exited business areas that were no longer optimal or could no longer support the future of the company. However, we have invested significantly and engaged employees in the areas that are most important to the future of the company: distribution network, digital and data processing and technology,” the banker explained.

Since he took office, 11,000 employees have left the bank. “We now employ around 9,000 young people, 2,400 of whom are in Italy,” Orcell explains. Romer, 61, will become CEO of the bank from 2021. He replaces Frenchman Jean-Pierre Mustier. He was confirmed for a second term in April last year. (APA)

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