Mustier to Stay as UniCredit’s CEO Amidst Leaving Rumors

On Monday Italy’s largest bank in assets and numbers UniCredit S.p.A (CRDI) firmly confirmed its Chief Executive Officer Jean Pierre Mustier will be remaining in his position amidst rumors that the CEO will be exiting the bank.

During the past few weeks, several media hoses have been publishing reports indicating the Mustier will be leaving UniCredit for its fierce competitor and Britain based HSBC Holdings Plc. (HSBC) which boasts of being Europe’s largest bank in term of assets.

UniCredit’s spokesperson said the bank had formulated its long term goals and current CEO Mustier will fully be part and parcel of them.

“UniCredit recently launched a new plan through 2023 and its “whole management team, including Jean Pierre Mustier, is fully focused on its successful execution” said the spokesperson.

Reliable sources revealed Mustier was being poached by HSBC to take after acting CEO Noel Quinn who is also eyeing the position permanent.

The sources added, late last week Mustier opted out of the race for reasons better known to him.

Mustier assumed the position of UniCredit’s CEO four years ago and on top of his biggest achievement at the bank is that he managed to consolidate the bank’s capital base which was largely weak back then. He has also reduced multiple services costs and solved various loans issues since assuming office.