This new structure creates a simplified organisation that will enable greater accountability across all businesses and areas. It ensures our clients remain at the heart of everything that we do, further integrates technology and digitalisation as a key driver of our future success and provides clarity on key roles and responsibilities.
In summary, the new UniCredit organisation:
- Creates a new Group Executive Committee ('GEC') of fifteen people to replace the former Executive Management Committee of twenty-seven, increasing ownership and accountability.
- Removes a layer of management, minimising co-Heads of businesses and functions and creates a more cohesive partnership
- Empowers country CEOs to better manage their geographies in delivering best practice and synergies across all business lines. Italy, Germany, Central Europe and Eastern Europe will now form the key geographic reporting lines for the Group.
- Positions Italy as a standalone geography, reflecting the critical importance of this country to our Group, honouring the roots, essence and spirit that underscore the origins of UniCredit.
- Puts in place a transversal matrix, positioning Corporate and Investment Banking across all geographies to offer our clients a seamless suite of products and services that serve different local demands.
- Creates a new Digital division that will elevate technology, digitalisation and data to the new GEC, ensuring it will be embedded in every strategic deliverable underscoring the critical importance of this area to the future of the business.
- Creates a new People & Culture division to expand the remit of the former Human Capital function, reflecting the importance of our people as carriers of our new culture and ensuring that the Group can attract, hire and retain best-in-class talent for the long-term benefit of UniCredit and its clients.
- Creates a CEO office to include Strategy & Optimisation, and the newly created function of Stakeholder Engagement. Both functions will be part of the GEC.