EMCC European Monitoring Centre on Change



Geographic Location

Country: Italy


Sector: Financial services
Financial and insurance activities
64.99 - Other financial service activities, except insurance and pension funding n.e.c.
Number Employed: 44000
Group: Unicredit

Employment Effects

Announcement Date: 02-07-2015
Type of Restructuring: Business expansion
Employment Effect Start: 03-07-2015
Foreseen End Date: 31-08-2015
Planned Job Creation: 200

Additional Information

Italian banking group Unicredit has announced the hiring of 200 senior bankers.

The group intends to strengthen its private banking operations with the goal of exceeding 100 EUR billion of assets under management by 2018 from the current 90 EUR billion, thus consolidating its position in the domestic market. The strategy also entails the creation of a new subsidiary company in charge of managing  operations of customers with financial assets valuable more than 5 EUR million. The new company, Cordusio, is expected to appoint further 100 senior bankers through internal relocation and new hirings.

The new employees will be initially enrolled on fixed-term contracts, to be possibly switched to open-ended ones.

Unicredit is currently implementing a large-scale restructuring plan at its Italian facilities (for more details, see UnicreditIT-2014).