UniCredit CEO working on reorganization of holding company

Some employees will take early retirement and young people will be hired. You want to improve the efficiency of the organization.

Andrea Orcel, the head of UniCredit, wants to reorganize the holding company of his bank. The aim is to simplify the structure of the parent bank of Bank Austria, Orcel said, according to the daily Il Messaggero (Sunday edition).

“Over three years, we have been working to improve the efficiency of the organization, reduce bureaucracy and simplify processes. A lot has happened; we have hired young people and increased salaries. The part that has been left behind is the holding company, which has become very bloated due to excessive control from central structures,” Orcel said.

“Some employees will retire early, and we will ask others if they are interested in training to be deployed in other jobs or in more productive networks,” explained the banker, who has been head of the Bank of Austria since 2021. Positions

14 years no change

“UniCredit has not made any organisational changes that could have a direct impact on performance for more than 14 years. A large part of this restructuring process is now complete and the benefits are evident in the results and also in customer service. (…) We have separated from business areas that were no longer optimal or could no longer support the future of the company. However, we have invested heavily in employees and deployed them in the areas that are most important for the future of the company: the distribution network, digital processing, data processing and technology.

Since taking office, the bank has seen 11,000 employees leave. “In the meantime, we have hired around 9,000 young people, 2,400 of them in Italy,” Orcel explained. Romer, 61, has been CEO of the bank since 2021. He replaced Frenchman Jean-Pierre Mustier. He was confirmed for a second term in April. (APA)