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Profumo Resigns: Bank Austria’s Parent Group UniCredit Under Pressure

Published: September 22, 2010; 12:40 · (Vindobona)

The surprise departure of UniCredit CEO Alessandro Profumo is the talk of the town in the financial industry, also in Austria.

Profumo Resigns: Bank Austria’s Parent Group UniCredit Under Pressure / Picture: © Reuters

The shares of UniCredit are under hard pressure on the stock market. Analysts are downgrading the paper. Already on Tuesday, UniCredit share prices fell by more than 2%. On Wednesday, the downtrend continued at a rapid pace. Already in the first two hours of trading about 200 million shares were thrown on the market, causing the price to fall another 3%.

Profumo sat for almost…

This article includes a total of 283 words.

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