The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
BANKING

Mustier makes his mark on UniCredit

UniCredit CEO Jean-Pierre Mustier has unveiled his new strategic plan for the bank. At its heart is a €13 billion rights issue. But look deeper and Mustier is at pains to stress UniCredit’s European, rather than Italian, credentials. He’ll need to convince shareholders that this time the bank has a real prospect of breaking free of the country’s bad debt troubles.

Jean-Pierre Mustier lectern-600
UniCredit CEO Jean-Pierre Mustier

Just after Jean-Pierre Mustier rejoined UniCredit as CEO in July 2016, he attended an event organized by a leading Italian entrepreneur, who told Mustier that he did business with UniCredit not only because it was an Italian bank but because it had a large international network and was therefore able to support his development outside the country.

On another occasion Mustier heard a slightly different story, although no less positive. A client spent time telling him forcefully that his firm had done business with UniCredit for 50 years and was planning to do so for another 50 years. The client was a Mittelstand firm in Germany. 

It was with these two anecdotes that Mustier opened UniCredit’s marathon capital markets day in London on December 13. For him, the two stories illustrate a key point about the nature of UniCredit: in Italy, the bank is welcomed for the international reach it can provide domestic clients; on the other side of the Alps, it is seen as a local bank that is firmly integrated into the German economy.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree