• Initiative reflects the bank's ongoing efforts to simplify its operations and evolve its securities set-up in a move that is creating more than 200 jobs across Germany and Italy
UniCredit has today announced the next step in the evolution of its securities services offering - partnering with BNP Paribas for custody services and with FNZ for its cloud-based post-trade securities platform, as it continues to harmonise its set-up across Italy and Germany.
This comes following the bank's announcement in January of plans to bring its back-office activities for securities services in house, standardising its operations and suppliers across countries and creating more than 200 new jobs in the process.
UniCredit has selected BNP Paribas' securities services business as its custody services partner for Italy and Germany, with additional support for Luxembourg. Thanks to its global footprint and proven operational excellence, BNP Paribas is a natural long-term partner, ready to provide best-in-class services for UniCredit's clients.
The new back-office and digital teams will now work with FNZ to build out an industry-leading post-trade securities platform for the bank's custody services business in Germany. FNZ's highly scalable, end-to-end technology platform is fully aligned with the bank's ambition to enhance operational efficiency and accelerate innovation. Leveraging on FNZ capabilities, UniCredit will significantly streamline its processes, serving clients in the most seamless way possible.
The team managing this platform will be fully internal to UniCredit, creating more than 140 new roles in Germany, where the service was previously mostly outsourced, and a further 60 roles in Italy. On top of this, another 25 roles have been created within the Digital team across Italy, Germany and Poland to support the process, with more to come, while a cross-functional project team is already working on the transition.
Commenting on the initiative, Gianfranco Bisagni, UniCredit's Group Chief Operating Officer, said: "We are fully committed to harmonising and simplifying our set-up across UniCredit to provide a more secure, flexible and cost-efficient foundation for the delivery of custody services, enabling our clients to be more agile and impactful in their execution. Working with FNZ and BNP Paribas, we are confident we have the best possible foundation in place."
"By internalising key parts of the securities value chain, we are making a strategic investment in one of our most critical product areas. We are strengthening our in-house expertise, enhancing operational resilience, and accelerating our digital transformation. With our new partners on board, we are set to deliver more integrated, efficient, and future-ready services—setting a new standard for client-centric securities services in Germany and across Europe," said Marion Höllinger, CEO, HypoVereinsbank Germany.
Milan, 8 September 2025
For further information, please contact: mediarelations@unicredit.eu