Unicredit unveils management overhaul

Lender aims for efficiency, cost control

(ANSA) - Milan, July 26 - Italian bank Unicredit said on Tuesday it was overhauling its management structure to boost efficiency and control of costs.
    Unicredit Chief Executive Jean Pierre Mustier said the changes planned "represent the first step in the reorganisation of the bank," adding that the aims were to make the group more streamlined, simple and efficient.
    He said that a lighter structure, shorter reporting lines and clearer responsibilities would help develop a culture of rigorous cost discipline, focused on effective operations.
    New appointments on Tuesday include Gianni Franco Papa as general manager, Unicredit said in a statement.