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Management changes

UniCredit today announced some management changes:


Jean Pierre Mustier has decided to step down from his position as Deputy General Manager in charge of Corporate and Investment Banking (CIB) activities and of the supervision of the Group's German activities as of January 1st, 2015. He will be succeeded by Gianni Franco Papa, currently Head of the Group's Central & Eastern Europe (CEE) division. Mr. Mustier will remain involved in the Group, as early next year he will join the UniCredit international advisory board as a non-executive director. He will also take on an external role focused on the financing of the real economy, through debt and equity, as well as pursue his pro bono financing of social entrepreneurs and education projects. The CEO and the Board would like to warmly thank Mr. Mustier for his valuable contribution and his continued commitment. 


Gianni Franco Papa - age 58 - joined UniCredit in 1979, first in the Italian network and subsequently in the international network, with increasing roles of responsibility. In these positions he gained an in-depth experience of Corporate and Investment Banking Business. In 2005 he was appointed General Manager of UniBanka, Slovakia, and in 2008 of Ukrsotsbank, Ukraine. Then in 2010 he became Head of the CEE Division.


Nadine Faruque has decided to accept a new professional challenge in another international financial institution, thus leaving her position as General Counsel and Group Compliance Officer in charge of legal affairs and compliance on November 30th. The CEO and the Board kindly thank Ms. Faruque for her important contribution to UniCredit in defining and setting up a new compliance function for the Group in line with new regulatory requirements, while continuing to assure high quality legal and litigation support to all business divisions.


In an increasingly complex regulatory environment, and in line with current European regulatory best practice in corporate governance, the Board decided to split Ms. Faruque's role in two and appointed Carlo Appetiti as Group Compliance Officer starting from December 1st, reporting directly to the CEO. In addition, the Group legal activities will be managed by two co-heads: Carlo Kostka and Gianpaolo Alessandro, both reporting to the Group COO and  Deputy General Manager Mr. Fiorentino.


Carlo Appetiti - age 48 - has gained deep experience in Risk Management, Compliance and Audit matters in various international financial institutions over the last 25 years. Before joining UniCredit he worked for 8 years at Deutsche Bank where he managed Compliance activities in a number of European countries covering Italy, Belgium, Poland, Portugal and Spain. He joined UniCredit in January 2013 as Co-Head of Global Compliance.


Carlo Kostka - age 53, U.S. citizen --began his career as a lawyer in New York. Since the early nineties, he has lived and practiced in Europe, where he spent a decade as a partner at leading U.S. and international law firms, advising major banks and companies on corporate finance, securities transactions and regulatory matters. He has extensive experience in Germany, CEE and Italy. He joined UniCredit as Head of Global Legal in 2011.

Gianpaolo Alessandro - age 44 - started his career in Milan and then worked as a qualified lawyer in Italy and UK for primary Italian and international law firms. Since 2005, he worked for a number of multinationals acting as General Counsel and Company Secretary with the responsibility of Legal & Compliance, covering mainly Italy, England and Germany. Before joining UniCredit he spent 4 years at GE Capital as Italian General Counsel advising on financial transactions, corporate governance, domestic and international litigation and debt restructuring matters. In 2013 he joined UniCredit as Head of Corporate Affairs and Board Secretary.



Milan, August 5th, 2014