MILAN (Reuters) - UniCredit (LON:0RLS) has picked Franco Brescia, 61, as it new head of group institutional affairs from January when his predecessor Maurizio Beretta, will become senior adviser to the bank, an internal memo seen by Reuters showed.
Both Brescia and Beretta, will report to UniCredit's head of stakeholder engagement Joanna Carss.
Beretta, who is 67 and was promoted to lead UniCredit's institutional and cultural affairs in 2018, "will be responsible for continuing to build and leverage relationships at the highest level," the memo signed by Carss said.
In the new position, Beretta will have more time to spend "with leading figures within Italy's institutions and organisations."
"He will continue to be a relevant member of the UniCredit team and have a critical role within group stakeholder engagement," the memo added.
Brescia, currently a senior adviser to UniCredit, has a 30-year experience in public affairs, having held posts at leading companies such as Telecom Italia (BIT:TLIT), Poste Italiane and Atlantia.
Fabrizio Sadun, UniCredit's current head of institutional affairs for Italy and Germany, will expand his remit as part of the reorganisation.
Sadun will "focus on and lead all of the technical elements of group institutional affairs, including management of all key relationships with (banking lobby) ABI and wider trade bodies, and leading on policy development and relevant associations, reporting directly to Franco (Brescia)," the memo said.
Tania Viarnaud, who reports to Carss, will take on responsibility for cultural affairs, it added.