Financial Institutions Key to CIB Growth Strategy:
Vincenzo Tortorici New Global Head of Financial Institutions Group
Additional Appointments Announced in Business Areas
Where UniCredit is a European Leader
- Tim Hoffmeister Appointed Co-Head of Global Syndicate, within Global Syndicate & Capital Markets, Alongside Christian Reusch
- Alexander Tumminelli Appointed Head of Financial Sponsor Solutions (FSS)
- Pietro Rey and Klaus Vukovich Appointed Co-Heads of Corporate Finance Advisory (CFA)
Gianni Franco Papa, current Deputy General Manager of UniCredit Group and Head of the Corporate & Investment Banking (CIB) Division said: "UniCredit confirms its commitment to the UK where we support our large client base of corporates and financial institutions with our unique financing strengths throughout our Western, Central and Eastern European network. I am delighted with Christian Steffens' appointment as new UK Country Head. This will further strengthen our commercial push into UK business, which we increased in the last 12 months with the establishment of a Global Transaction Banking team and a new Head of UK Coverage in London as well as an increased focus on UK banks and asset managers".
"In a phase of profound restructuring and consolidation in the banking sector across Europe, coupled with the ongoing search for appealing yields by institutional investors, UniCredit plays a pivotal role leveraging on its deep local knowledge across Europe and extensive international investor base and I am pleased to appoint Vincenzo Tortorici, a very experienced and strategy-minded manager, as Global Head of Financial Institutions Group to drive this effort".
UniCredit Corporate & Investment Banking is also reinforcing business segments where it is a leader in Europe, Middle East and Africa (EMEA) with senior appointments, including in Global Syndicate & Capital Markets, Financial Sponsors Solutions (FSS), and Corporate Finance Advisory (CFA).
In syndicated loans, UniCredit ranks #1 in EMEA (all asset classes) with Euro 16 Bln in the first half of 2016, according to Dealogic.
In leveraged loans for private equity clients (coordinated by FSS), UniCredit completed 148 transactions in 2015, according to Bloomberg, which is the highest number in Europe, and ranked #1 by number of transactions in the first half of 2016, according to Dealogic.
In Corporate Finance Advisory, UniCredit is a leading player in M&A transactions in Italy and Central & Eastern Europe.
Appointments in detail
UK Country Head
Christian Steffens has been appointed UK Country Head and UniCredit Bank AG London Branch Manager, effective 1 August. Mr. Steffens, previously Global Head of Financial Institutions Group (FIG), will report to Gianfranco Bisagni, Deputy Head of Corporate & Investment Banking, and, as UniCredit Bank AG London Branch Manager, to Michael Diederich, Head of Corporate & Investment Banking Germany. Mr. Steffens succeeds Ted Platt, who will take on a new role in UniCredit.
Mr. Steffens joined UniCredit in 2008, and has served as Global Head of Financial Institutions Group (FIG), Global Co-Head of Capital Markets and Head of Equity Capital Markets. Prior to joining UniCredit, he was a Partner at Seitz & Partner where he was responsible for major privatizations as well as IPO advisory business and M&A. Previous to this, he served as Head of the German speaking Equity Capital Markets business at Lehman Brothers and also held senior roles in the M&A Divisions of Merrill Lynch and S G Warburg. Mr. Steffens holds a Bachelor of Science degree in Economics from University College London.
Financial Institutions Group (FIG)
Vincenzo Tortorici has been appointed Global Head of Financial Institutions Group (FIG), reporting to Gianni Franco Papa, Deputy General Manager of UniCredit and Head of Corporate & Investment Banking, and Michael Diederich, Head of Corporate & Investment Banking Germany, effective 1 August. Mr. Tortorici succeeds Christian Steffens.
Mr. Tortorici joined UniCredit in 2013 as Co-Head of Corporate Finance Advisory (CFA) and assumed the role of Global Head of CFA in June 2014. Prior to joining UniCredit, he was a Senior Partner at McKinsey where he worked for more than 14 years based in London, Copenhagen and Milan. At McKinsey, he advised financial institutions and served as Head of the European Corporate Finance Practice, as Head of Italian Private Equity and as a Member of the EMEA Banking Practice. Before that, he worked at Morgan Stanley in New York and London and at Bain & Company in Rome. He earned a B.A. in Economics & Business from L.U.I.S.S. University of Rome and an MBA from MIT Sloan School of Management.
Global Syndicate & Capital Markets
Tim Hoffmeister has been appointed Co-Head of Global Syndicate, within Global Syndicate & Capital Markets, effective 1 August, succeeding Mathias Noack who will pursue other opportunities outside the bank. Mr. Hoffmeister's extensive experience in leverage finance and high yield capital markets ensures he is ideally positioned to successfully co-lead the Global Syndicate team alongside Christian Reusch. Mr. Hoffmeister and Mr. Reusch will report to Marco Bales, Head of Global Syndicate & Capital Markets.
Mr. Hoffmeister joined UniCredit in 2008 as Head of Financial Sponsor Solutions Germany. He successfully led a number of new landmark LBO transactions and was also instrumental in further expanding UniCredit's cross-selling efforts to private equity clients. In January 2012, he took on additional responsibility for UniCredit's High Yield Capital Markets business until it was moved to Global Capital Markets in 2014. He has led Financial Sponsor Solutions globally since March 2013, successfully protecting and expanding UniCredit's consistent position as top-3 Bookrunner in Europe. Before joining UniCredit, he worked for Barclays Capital in Frankfurt and London for eight years, where he successfully built Barclays' German leveraged finance business into a market leading position. Before that he worked at WestLB in project and leveraged finance and at Kloeckner & Co in project management and project finance. Between 1994-1995, he successfully completed the EU's Executive Training Programme in Japan.
Financial Sponsor Solutions (FSS)
Alexander Tumminelli has been appointed Head of Financial Sponsor Solutions (FSS), which delivers corporate and investment banking services to private equity sponsors and their portfolio companies. In his new role, which is effective 1 August, Mr. Tumminelli will report to Richard Burton and Andreas Mayer, Co-Heads of Financing & Advisory. Mr. Tumminelli succeeds Tim Hoffmeister who has been in the role since early 2013. Mr. Tumminelli brings with him substantial experience in the leveraged finance business having led the German Financial Sponsors & Leveraged team to date.
Mr. Tumminelli joined UniCredit in 1998. He has worked in leveraged finance in Germany, corporate structured finance in Germany, and for the private equity fund EquiVest. He became Head of Financial Sponsor Solutions Germany in 2013. He is a graduate of Fachhochschule Konstanz in Business Administration.
Corporate Finance Advisory (CFA)
Pietro Rey and Klaus Vukovich have been appointed Co-Heads of Corporate Finance Advisory (CFA) effective 1 August, reporting to Andreas Mayer and Richard Burton, Co-Heads of Financing & Advisory, and will be based in Milan and Munich respectively. In their current roles as Heads of CFA in Italy and in Austria & Central and Eastern Europe (CEE) respectively, Mr. Rey and Mr. Vukovich have played instrumental roles in establishing UniCredit as a leading M&A house in those markets. Mr. Rey and Mr. Vukovich succeed Vincenzo Tortorici.
Mr. Rey joined UniCredit's investment banking division in 2007 as Senior Banker for large Italian corporates. In 2013, he took over as Head of CFA Italy leading the team to rank as No.1 M&A advisor in Italy in 2015. From 2001 to 2007, he worked at Lehman Brothers in Milan and London as the Lead Banker for a number of large Italian corporates. Prior to this, he worked at JP MorganChase, Flemings and Swiss Bank Corporation in M&A advisory for Italian clients. He graduated in Business & Economics from La Sapienza University in Rome and completed an Executive Programme at INSEAD.
Mr. Vukovich joined UniCredit in 2012 as Head of CFA Austria and CEE and has led numerous prestigious cross-border M&A transactions establishing UniCredit as a leading player in M&A advisory in CEE. Previously he worked at Erste Group, where he re-launched the M&A franchise in the region with a number of notable successes including high-profile mandates. Prior to joining Erste Group, he spent 10 years in London with Lehman Brothers and UBS. He graduated in Law and Business and Finance from the Vienna University.
Milan, July 28, 2016
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1) Data as at March 31, 2016. FTE "Full Time Equivalent"= number of employees counted for the rate of presence. Figures include employees of Koç Financial Group calculated
2) Data as at March 31, 2016. Figures include branches of Koç Financial Group calculated at 100%.