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UniCredit SpA has appointed Federico Ghizzoni as its new chief executive

Published: October 1, 2010; 00:25 · (Vindobona)

Italy's biggest bank UniCredit SpA named central and eastern European head Federico Ghizzoni its chief executive as expected on Thursday and underscored its commitment to an international role.

UniCredit SpA has appointed Federico Ghizzoni as its new chief executive / Picture: © UniCredit

The board unanimously backed Ghizzoni, a 54-year-old deputy chief executive, to succeed Alessandro Profumo, who had turned the bank into an multi-national player, UniCredit said in a statement.

As reported by Vindobona, Profumo quit last week in a clash with shareholders over Libyan stake-building, leaving UniCredit, the biggest bank in central and eastern Europe, rudderless. The Bank of Italy had urged the lender to make a quick replacement.

"UniCredit is a European group. We'll keep on growing organically in Europe. There are no transactions in the loop," Ghizzoni told reporters after the board meeting at Warsaw's Bank Pekao, a UniCredit unit.

Chairman Dieter Rampl said in a statement Ghizzoni "will continue to advance UniCredit's position as a leading international bank".

Federico Ghizzoni was born in Piacenza (Italy) on October 14, 1955.

He holds a Degree in Law from University of Law in Parma and started his career in 1980 as customer relations manager at Credito Italiano's Piacenza Branch.

Having worked as the Head of Credit & Marketing Department at Piacenza Branch, Ghizzoni assumed the position of Branch Director in Trieste between 1988 and 1989. Continuing his career as Director of Seriate Branch between 1990 and 1992, Ghizzoni was appointed

Deputy General Manager to Credito Italiano's London Office.

After having been appointed the Credito Italiano's Singapore Office General Manager in 1995, Ghizzoni became Executive Director responsible of Corporate and International Banking between 2000 and 2002 at Bank Pekao S.A, affiliate of the UniCredit Group. In 2003

Ghizzoni started to work at Koç Financial Services, a 50-50 joint venture of Koç Holding and UniCredit Group.

In his capacity as Executive Board Member of Koç Financial Services and all its affiliates, Ghizzoni has also been serving in the upper management, responsible of auditing, risk management, planning and control. After the acquisition by Koç Financial Services of Yapi ve

Kredi Bankasi and its affiliates, he become the COO & Executive Board Member of Koç Financial Services and COO & Vice Chairman of Yapi ve Kredi Bankasi.

In July 2007, he was appointed Head of Poland's Markets Division at UniCredit, Head of CEE Banking Operations and Board Member responsible for the CEE Banking Division at Bank Austria AG.

In April 2009 he has been appointed Member of UniCredit Group Executive Management Committee.

In August 2010 he assumed the position of Deputy CEO and Deputy General Manager of UniCredit.

Since 30 September 2010 he is Chief Executive Officer of UniCredit.