During today's meeting the Board of Directors of UniCredit Group approved the creation of a "Strategy and Business Development" department, which will be run by the current head of the Planning, Strategy and Research Division, Francesco Giordano, who will take up the role of Chief Strategic Officer (CSO).
The new structure, reporting directly to the Chief Executive Officer Alessandro Profumo, will contribute to the strategic business development including Mergers & Acquisitions. More specifically it will contribute to drawing up the Group's strategic objectives, analysing the banking and financial system and its main dynamics, carrying out strategic benchmarking and setting up the process of capital allocation.
Francesco Giordano has been head of the Planning, Strategy and Research Division since 2005. Forty-one years old, he graduated from the University of Genoa with a degree in Economics and completed a master's degree at the University of Warwick. He worked as European Economist in London for various banks (including Credit Suisse First Boston and San Paolo Bank). In 2000 he joined the Group as head of the Studies Office of UniCredit Banca Mobiliare, and went on to become the head of planning for UniCredit Banca d'Impresa. He has produced a number of publications including "The Political Economy of Monetary Union" (Routledge) published in 1998 and more recently, "Storia del Sistema Bancario Italiano" (Donzelli).
Milan, July 15th, 2008
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