UniCredit names co-CFO Bianchi as head of wealth management

MILAN (Reuters) – UniCredit said on Tuesday it had appointed Mirko Bianchi, currently co-chief financial officer, to lead the group’s wealth management and private banking business, in the latest management reshuffle at the Italian bank.

Stefano Porro, currently co-CFO alongside Bianchi, will assume sole responsibility for the job and report to Wouter Devriendt, the former Dexia CEO now in charge of group finance and controls at UniCredit.

Bianchi, who will be supported by deputy Stefano Vecchi, the current head of wealth management in Italy, will report directly to UniCredit’s co-CEOs for commercial banking in western Europe, Francesco Giordano and Olivier Khayat.

Bianchi replaces Marco Bizzozero, who has decided to leave the group to work at a U.S. fintech firm.

The appointments are effective from Thursday.

(Reporting by Valentina Za; Editing by Susan Fenton)