From 1st October Stefano Vecchi will lead the new division Wealth Management and Private Banking of UniCredit. As Head of Wealth Management & Private Banking Italy, Vecchi will report directly to Niccolò Ubertalli, Head of UniCredit Italy. He will therefore have responsibility for the Italian network of WM & PB serving 140 customers, for a total of over 100 billion euros in assets. The network is made up of a team of approximately 1.400 employees, including 700 Relationship Managers located in 132 cities throughout Italy.
The new Italian division joins the other three business areas of UniCredit Italia dedicated to customers: Individuals, Companies and Corporate & Investment Banking Italy. And it will accelerate growth within these business lines and further improve the quality of the banking group's offer.
“With the creation of a dedicated WM & PB division – he said Niccolo Ubertalli, Head of UniCredit Italy – the Group confirms its focus on HNW and UHNW clients seeking highly personalized service management incorporated into the unique offering of a pan-European commercial bank. The new approach aims to increase the focus on our offer of excellence and on advisory services through an integrated platform provided by our bankers".
“Stefano Vecchi has a long experience as a top manager in the best companies in the sector. I am confident that his professionalism and deep knowledge of the wealth sector will continue to be a key asset to the division and will help us thrive as a bank,” concluded Ubertalli.
Three business lines will report directly to Stefano Vecchi: Private Banking, Wealth Management, Ultra-high Net Worth families and family holdings. Furthermore, the Italian Investment Management, Investment Services and Investment Products functions will report to Stefano Vecchi and the CIB division, headed by Richard Burton.
Additionally, to further streamline simplification, the group led by Andre Orcel is transitioning to a regionally based Wealth Management & Private Banking setup for Italy, Germany, CE and EE. An important change that will allow UniCredit to strengthen the business in the geographical areas of interest, share best practices between segments and achieve operational excellence.
