Negotiations over a potential purchase of Banca Monte dei Paschi di Siena inevitably attracted most attention during Andrea Orcel’s first year at UniCredit. The fall in the latter’s share price after the news in October that the deal was not going ahead indicates how much the market changed its attitude to that long-discussed deal since Orcel’s arrival in April.
Before deciding his strategy for the years ahead, though, Orcel’s priority has been to make sure that his team is properly structured and staffed.
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