The Supervisory Board of HypoVereinsbank (UniCredit Bank AG) decided two changes in the Management Board. The responsible authorities had already approved these changes.
Francesco Giordano was appointed as the new Chief Financial Officer. He will succeed Peter Hofbauer on 1 June 2015, who will return to his home city of Vienna after five years in Munich to take on new functions within the UniCredit Group there. Francesco Giordano (48) has been working for the UniCredit Group for the past 15 years and he has been Chief Financial Officer at Bank Austria since 2011. Mirko Bianchi will take over this position from 1 June 2015 – subject to approval by the responsible authorities. The postgraduate economist Francesco Giordano started his career two decades ago at the S&P Group, further positions at San Paolo Bank and Credit Suisse First Boston in London followed.
As from 1 September 2015, Dr Michael Diederich (49) was appointed as new Board Member. He will then take over responsibility for Corporate & Investment Banking from Dr Andreas Bohn, who will move to SwanCap Partners as Managing Partner and retain close ties with the UniCredit Group. SwanCap Partners is an independent Alternative Asset Management company that was created by the spin-off of the private equity arm of HypoVereinsbank in 2013. Both companies maintain a relation of partnership that will be further extended. HypoVereinsbank holds a significant stake in the SwanCap Partners GmbH and considers this a strategic investment. As Chairman of the Advisory Committee Andreas Bohn was already involved in the establishment and the development of the company and has been responsible for the private equity and corporate finance business within the UniCredit for many years.
Dr Michael Diederich was to date responsible for Germany, Austria and Switzerland as CEO of Euler Hermes, the leading international credit insurer. Over the previous twelve years, he had held senior managerial positions in Corporate & Investment Banking and at the Unternehmer Bank of HypoVereinsbank. He will now return to Munich to take up his new appointment with the bank. Diederich studied business administration, carried out research for a doctorate in this area and took an MBA.
Federico Ghizzoni, Chairman of the Supervisory Board of HypoVereinsbank and CEO of UniCredit commented: “Once again, these changes in the Management Board bears testimony to the huge potential among the executive management in the UniCredit Group and safeguards continuity in Germany, an important market. For the Management Board of HypoVereinsbank we have gained an out-standing CFO in Francesco Giordano with an international reputation. Michael Diederich is familiar with the strengths of our Corporate & Investment Banking and its potential for growth; he understands the aspirations of our clients and the environment. This provides ideal enablers for enhancing role of HypoVereinsbank as a strategic partner. I should like to take this opportunity to thank Peter Hofbauer and Andreas Bohn for their excellent work and at the same time wish them every success in their new functions.”
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