Investing.com UK - Financial Markets Worldwide
🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

UniCredit shares fall at open after report Mustier vying for HSBC top job

Published 21/02/2020, 08:05
UniCredit shares fall at open after report Mustier vying for HSBC top job
HSBA
-
FTITLMS3010
-

MILAN (Reuters) - Shares in Italy's biggest bank UniCredit fell more than 1% at open on Friday following reports Chief Executive Jean Pierre Mustier is being considered for the top job at rival HSBC (L:HSBA).

HSBC this week unveiled a drastic overhaul, the third since the financial crisis, under interim CEO Noel Quinn.

Bloomberg News reported on Thursday Mustier had emerged as a contender for the job, which Quinn is vying to secure on a permanent basis. HSBC said in August it would pick a permanent CEO within six to 12 months.

A source familiar with the matter confirmed to Reuters Mustier is a candidate. Both banks declined to comment.

UniCredit shares were down 1.3% in early trade on Friday, following a 2.9% drop the previous day when it underperformed a 2.1% fall in the sector (FTIT8300).

Mustier arrived at UniCredit in mid-2016 to oversee a turnaround that has seen the bank slash costs and bad debts while also selling assets and new shares to boost capital.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.