UniCredit appoints chair for Italy

UniCredit has decided to appoint a chairman for Italy as the bank folds all its domestic units into one. Italy’s second-biggest bank by retail branches said in a statement that Gabriele Piccini, head of the Italy retail network, would be country head from 1 November in the revamped group which sees seven separate Italian banking subsidiaries merged into one. The change follows pressure from major Italian shareholders, which collectively own 11.5 per cent of the bank.