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UniCredit may make announcement later on Friday on CEO Mustier's future: sources

Published 2020-02-21, 12:33 p/m
UniCredit may make announcement later on Friday on CEO Mustier's future: sources
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MILAN (Reuters) - Italy's biggest bank UniCredit (MI:CRDI) may make an announcement as early as Friday night on the future of boss Jean Pierre Mustier, two sources familiar with the matter said, after reports he is vying for the top job at rival HSBC (L:HSBA).

Shares in UniCredit fell 3.9% on Friday, against a 2.3% drop in Italy's banking index (FTIT8300), hit by reports of Mustier's possible departure.

A third source familiar with the matter had said earlier on Friday Mustier was a candidate to succeed HSBC interim CEO Noel Quinn who earlier this week unveiled a major overhaul at the bank, its third since the financial crisis.

Speaking on condition of anonymity because deliberations are private, the sources said the bank was considering whether to make an announcement but there was no certainty that it would.

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