UniCredit Orcel CEO works on reorganization of holding company

Andrea Orcel, the head of UniCredit, wants to reorganize his bank's holding company. This is aimed at simplifying the structure of the parent bank of Bank Austria, Orcel said, according to the daily. The Messager.

“Over three years, we have improved the efficiency of the organization, reduced bureaucracy and streamlined processes. A lot has happened, we have hired young people and increased salaries. The part that has lagged behind is that the holding company has become very large due to excessive control by central structures,” said Orsel.

“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

“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 has now been completed and the benefits are evident in the results and also in customer service. (…) We have separated ourselves from the areas of business that were no longer optimal or could no longer support the future of the company, however, we have invested heavily in the areas that are most important for the future of the company, and we have deployed them: the distribution network, digital, data and processing as well as technology,” the banker explained.

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.