In this exclusive interview with UniCredit group CEO Andrea Orcel, we discuss the controversial remuneration package, his plans to grow the bank again in Italy, and his take on M&A. Read on to learn more about the controversial CEO and what He has planned for the future of the bank. Let’s take a closer look at Orcel’s plans for the future. And don’t forget to watch the video below to learn more about his vision. Best Aditsm Brands
Andrea Orcel is the CEO of UniCredit group
Andrea Orcel, the CEO of the UniCredit group, has been credited with turning the bank’s fortunes around. His efforts have increased the company’s shares by more than 20 percent since December. In the past six months, Unicredit shares have climbed more than 35 percent. However, Orcel has also been responsible for some notable deals being rejected by his bank. For example, in October, he turned down a rescue deal with Italy’s Monte Dei Paschi di Siena. LGLs990
His remuneration package is controversial
The remuneration package of UniCredit group CEO Andrea Orcel is proving controversial. Two investors, including Federated Hermes, said they would vote against the package. A UniCredit spokesman said the decision would be up to Orcel. If the package is rejected, it will be up to the bank to decide how to proceed.
He wants to grow the bank again in Italy
The move to create a new Italian leadership structure was an unexpected choice for UniCredit. Orcel had been looking for the opportunity to lead a major European bank and jumped at the chance. He had a long history of advising the Spanish lender and had been with the group for nearly two decades. His experience includes Goldman Sachs, Merrill Lynch, and a stint in the Italian government. In 1998, he was an adviser to the bank and helped arrange the merger of CreditoItaliano and UniCredit.
His approach to M&A
While interest rates are expected to rise in the near future, UniCredit group CEO Andrea Orcel says she doesn’t expect to make any major cross-border bank acquisitions until at least 2022. That may be true, but, she points out, inflation could offset the benefits of higher interest rates. She also doesn’t see any major acquisitions taking place anytime soon, given the possibility of a pandemic impact on Europe and regulatory complexities. On the other hand, she is serious about sustainability initiatives.
His capital return plan
Andrea Orcel, the new UniCredit group CEO, has hinted at the possibility of taking over a bank if the deal proves successful. The bank has 4.5 billion euros of excess capital and is unlikely to face any difficulties in its quest for sustainable returns. He believes deals will help the bank reach its strategic goals faster. While this isn’t exactly a surprise, it’s worth noting that the new CEO will be making the first public comments in his role.
While Orcel says that Italy is still recovering from Covid’s troubles, it has only just begun to recover from its bad-loan problems. This is a major challenge for any bank, and, as a result, Orcel plans to return more of the capital to shareholders. The good news is that Orcel has the funds to back up his capital return pledges. However, the question remains: Will this capital return plan work?