UniCredit
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HSBC wealth buy boosts BNP Paribas’s Germany strategy
As HSBC retrenches from domestic business on the continent, BNP Paribas steps up its ambition in Europe’s biggest economy – focusing largely on the family-owned Mittelstand.
Long Reads
UniCredit: Mustier’s magical year
As a self-described ‘insider-outsider’ at UniCredit, Jean Pierre Mustier has transformed the image of Italy’s biggest bank – inside and out – over an extraordinary 12 months as CEO.
UniCredit’s new guard fights to revive its empire
After a few difficult years, culminating in the resignation of its long-serving CEO, Italy’s biggest lender is hoping for a fresh start. But plenty of hurdles need to be overcome if it is ever to reassume its position as one of Europe’s leading banks.
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In rushing to oust chief executive Jean Pierre Mustier halfway through the reporting cycle, UniCredit’s board may have revealed its weaknesses, not its strength. -
UniCredit entered the Covid-19 crisis flush with capital. That money was earmarked for dividends and share buybacks. So far, it has gone on frontloading loan write-offs.
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Jean Pierre Mustier and António Horta-Osório join Tidjane Thiam as the outsiders who rescued national champions before departing.
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The recent wave of M&A has left behind weaker banks such as Banco BPM, Sabadell and, above all, Banca Monte dei Paschi di Siena. Jean Pierre Mustier’s exit from UniCredit shows why.
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Jean Pierre Mustier’s decision to leave UniCredit raises the alarming prospect of the crippled Banca Monte dei Paschi di Siena pulling down a much bigger and stronger Italian bank.
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Tighter BTP-Bund spreads obviate the need for an international sub-holding, UniCredit CEO Jean Pierre Mustier tells Euromoney.
