UniCredit simplifies corporate structure, Vecchi, head of private bank, quits – memo

MILAN, July 25 (Reuters) – UniCredit (CRDI.MI) plans to further simplify its corporate structure, in a move that will also see Stefano Vecchi, head of its Italian private banking and wealth management unit , leaving the bank, a memo seen by Reuters shown on Monday.

The move comes just weeks after chief executive Andrea Orcel took direct responsibility for running the Italian bank’s domestic business. Read more

Vecchi took over as head of the wealth management and private banking division last October, when it was created.

Reporting by Valentina Za, writing by Cristina Carlevaro, editing by Agnieszka Flak

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