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One for clients project
The Board of Directors of UniCredit approved in its meeting of last 13th April the "One for Clients" project and the merger of seven subsidiary companies (UniCredit Banca, UniCredit Banca di Roma, Banco di Sicilia, UniCredit Corporate Banking, UniCredit Private Banking, UniCredit Family Financing Bank, UniCredit Bancassurance Management & Administration) into the parent company, UniCredit.
The project "One for Clients" is designed to further increase customer satisfaction through specialization and quicker response times.
The Board decision will allow for a simplification of the Group structure, increasing its proximity to territories and communities, safeguarding the most important brands (UniCredit Banca, UniCredit Banca di Roma, Banco di Sicilia). Furthermore, the project will ensure a more efficient organization granting additional authority to the networks.
Bank of Italy gave its authorization on the merger plan on June 15, 2010.
The merger has been approved respectively by the shareholders' meetings of the incorporated companies and finally by UniCredit Board of Directors (pursuant to section 2505 of the Italian Civil Code) on August 3rd 2010. The merger will become effective as of November 1, 2010.