Following the announcement of an investigation by the Milan Public Prosecutor Office, Massimiliano Fossati, UniCredit Chief Risk Officer, has asked to take a sabbatical and devote his time to vigorously defend his position and his good name against the allegation raised.
UniCredit supports and accepts Mr Fossati's request. Mr. Fossati will remain fully on staff during his sabbatical.
The bank expects that Mr. Fossati's position will be clarified in a short period of time, in the best interest of all parties.
In the interim, the role of MR Fossati will be covered by TJ Lim, Deputy Chief Risk Officer, reporting to the CEO.