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Sergio P. Ermotti serves as the CEO of UBS AG and holds various leadership roles, including Chairman of Investindustrial Acquisition Corp. and Swiss Re AG. His extensive experience includes previous positions at UBS Group AG, UniCredit SpA, and Merrill Lynch, among others, showcasing his influence in the financial sector. Additionally, he is involved with several foundations and organizations, emphasizing his commitment to global banking and economic development.
Cassa Depositi e Prestiti has issued an EUR800 million bond to UniCredit to support investments in Italian SMEs and Mid-Caps. The funds will be used for new loans of up to EUR20 million, with at least 51% allocated to small and medium-sized enterprises across Italy, particularly in southern regions. This initiative builds on a previous EUR750 million bond issued in 2022, enhancing credit access for over 27,000 companies and mobilizing more than EUR2.5 billion in resources in the last five years.
Last year saw a 30% increase in global separation announcements, with over half occurring outside the US, particularly in Europe. Activist investors are intensifying their campaigns, pressuring companies like BP and Honeywell to restructure, while European firms are consolidating amid geopolitical tensions and a need to compete with stronger US rivals. Despite an 8% drop in global M&A volume this year, optimism remains, with expectations of a 10-15% rise driven by corporate activity later in the year.
Sergio Ermotti, CEO of UBS AG, will receive a total compensation of 14.9 million Swiss francs in 2024. He holds multiple leadership roles, including Chairman of Investindustrial Acquisition Corp. and Swiss Re AG, and has an extensive background in banking and finance, having served in various executive positions across notable institutions.
Banco BPM CEO Giuseppe Castagna criticized UniCredit's recent statement amid escalating tensions in their takeover battle. UniCredit threatened to withdraw its bid for Banco BPM if the latter secures shareholder approval for a change in its own offer for Anima Holding.
Raiffeisen Bank's Russian unit has facilitated transactions for firms supplying materials to Russia's military, generating significant profits despite sanctions. Documents reveal that Unichim, a chemical company, provided acids for military systems, while Raiffeisen processed payments linked to sanctioned entities. The bank faces pressure to exit Russia amid regulatory scrutiny, yet it remains entangled in the war economy, accumulating stranded capital.
UniCredit SpA has acquired a stake of less than 4% in Assicurazioni Generali SpA, as reported by sources familiar with the matter. The Milan-based bank gradually built this position, motivated by financial reasons rather than strategic interests, coinciding with Generali's shares reaching €30, their highest since 2008.
In late 2024, UniCredit CEO Andrea Orcel ignited a wave of mergers and acquisitions in Italian finance by expressing interest in Commerzbank AG. This has led to a series of deals and negotiations, marked by public disputes and union pushback, with familiar names frequently appearing at various negotiation tables.
Commerzbank AG has labeled UniCredit SpA's approach as "hostile," escalating tensions amid ongoing discussions about a potential takeover. Commerzbank's CEO Bettina Orlopp emphasized the bank's openness to dialogue, contingent on receiving a formal proposal, while UniCredit has increased its stake to about 28% without prior talks. The situation has drawn criticism from the German government, highlighting the complexities of the unfolding scenario.
Sergio P. Ermotti serves as the CEO of UBS AG and holds various leadership roles, including Chairman of Investindustrial Acquisition Corp. and the UBS Optimus Foundation. His extensive experience includes positions at UBS Group AG, UniCredit SpA, and Merrill Lynch, among others, showcasing a robust career in financial services and governance.
UniCredit SpA
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