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About: http://data.cimple.eu/news-article/9d71b942e16911bf83dcc2b01c2a0c174e7b905c4a00960ba6a0f402 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Italy's second-largest bank UniCredit named Wednesday Andrea Orcel as its new chief, putting a consummate dealmaker in charge of the Milan-based lender. "I am pleased to report that the board has unanimously chosen Andrea Orcel as designated CEO of UniCredit," Chairman Cesare Bioni said in a statement. Orcel's appointment will be finalised following its approval at an upcoming shareholders meeting on April 15, UniCredit said. The 57-year-old Italian, who takes over as chief executive from Frenchman Jean-Pierre Mustier, previously worked at UBS, Bank of America and Merril Lynch. Forbes Magazine has called him "the Cristiano Ronaldo of bankers," while Italy's La Stampa daily referred to him as a "merger champion". He has worked on several high-profile mergers, including those that in the late 1990s led to the creation of UniCredit in Italy and BBVA in Spain. He was also an advisor on the ill-fated acquisition and break-up of Dutch bank ABN Amro in 2017, which effectively bankrupted two of its buyers, the Royal Bank of Scotland and Fortis. "With the benefit of hindsight we should have done things differently. I cannot help but feel responsibility for my role," Orcel told the Financial Times in 2019. In November, Mustier announced he was leaving because his vision for UniCredit "no longer corresponds" with that of the board. Mustier had been against making acquisitions and had sought for the bank to grow on its own. UniCredit has long been seen as a leading candidate to buy Italy's struggling Banca Monte dei Paschi di Siena, which has been in state hands after being bailed out in 2017. Orcel's previous job was president of UBS Investment Bank from 2012 to 2018. He should have then gone on to lead Santander, but his hiring was cancelled in January 2019. The Spanish bank ditched Orcel before he began, judging that his remuneration deal was exorbitant. Orcel responded by suing them. According to the Financial Times, Orcel was offered a 50-million-euro sign-on package, more than five times what the previous Santander chief executive earned. aa-bh/rl
schema:headline	'Cristiano Ronaldo of bankers' to lead Italy's UniCredit
schema:mentions	UniCredit UBS Banco Bilbao Vizcaya Argentaria Financial Times Italian language La Stampa Dutch language Banco Santander Spanish language Forbes Spain Scotland Cristiano Ronaldo Italy Chief executive officer Andrea Orcel Banca Monte dei Paschi di Siena ABN AMRO
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-01-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	69 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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