MILAN (Reuters) – UniCredit plans to further simplify its corporate structure, in a move that will also see Stefano Vecchi, the head of its Italian private banking and wealth management unit, leave the bank, an internal memo seen by Reuters showed on Monday.
The move comes just weeks after Chief Executive Andrea Orcel took direct responsibility for running the Italian bank’s domestic business.
Vecchi became head of the wealth management and private banking division in October last year, when it was created.
(Reporting by Valentina Za, writing by Cristina Carlevaro, editing by Agnieszka Flak)
