Unicredit in the swing, analysts promote the appointment of Mustier – Il Sole 24 Ore

Unicreditin swings in the stock market, together with the Milan Stock banking sector. After a start in deep red and a stop in the volatility auction, the street actions Gae Aulenti rose up to a maximum of 1,977 with an increase of more than 2% after the news of the appointment of the new CEO, Jean Pierre Mustier driving of the bank. The title is then returned in red and goes into the swing as the credit industry (hence the performance of the FTSE Italy All-Share Banks Index). The Board of Directors of UniCredit has unanimously co-opted Mustier. The manager will take the place of Federico Ghizzoni as from 12 July.

UniCredit, final test at the ECB for the new CEO

The Board has assessed that “Jean Pierre Mustier is the best person to fill the role of chief executive officer, as they possess all the necessary requirements. ” The appointment will be subject to the evaluation of the European Central Bank. In choosing, the appointments of Unicredit Committee “after reviewing several candidates of international level, has taken particular account of the quality and the Mustier professional skills as well as the considerable experience in the international financial services and the already gained knowledge of the group ‘ .

in a report this morning Intermonte assessed positively the possible appointment of Mustier ‘as good managers with international experience and have knowledge of Unicredit reality. ” Mustier is “the right manager to optimize capital and restructure the bank, with the sale of non-core assets with low profitability.” Mediobanca Securities analysts point out that the manager, as the favorite in the final hours, he was head of Corporate & amp; Investment Banking of UniCredit with Ghizzoni in the role of CEO, and has deeply restructured the unit leaving the bank to work concluded. The appointment of the new CEO, for analysts, is a key step to stop the sales on the title. However, it is likely that the shares will continue to suffer until the presentation of the new plan and the announcement of the possible capital increase.

(Il Sole 24 Ore Thomson Plus)

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