Will Orcel in Unicredit focus on Banco Bpm? Facts and scenarios according to Bertone
How will the next CEO of Unicredit, Andrea Orcel, move? Conversation with Ugo Bertone, long-time journalist specializing in Italian and international finance
The arrival of Andrea Orcel in Unicredit lays the foundations for a new balance in the Italian financial system. With Luxottica's founder, Leonardo Del Vecchio, rowing in favor of a new Milanese credit center in which Banco Bpm could immediately have a role.
Ugo Bertone, journalist and columnist specialized in economics and expert in Italian and international finance, is convinced of this.
From Enrico Cuccia to the lawyer Agnelli, from the metamorphosis of Fiat to the revolution of American big tech, there is no character and story of finance that his pen has not described with wisdom and wit. With a point of view that is always different from the common feeling.
THE APPOINTMENT OF ORCEL IN PLACE OF MUSTIER IN UNICREDIT
For Bertone, Orcel – the «Cristiano Ronaldo of the bankers», according to some observers – is the man around whom an essential game will be played for the future of the country.
CHAPTER MPS FOR UNICREDIT?
In Piazza Affari, and not only, there are many who believe that he will be entrusted with the task of absorbing Monte dei Paschi di Siena. " Mps is a big problem for the State that has made specific commitments with Brussels – recalls Bertone – It is a dossier with a strong political value and for which a solution that is also welcome to the 5-star Movement must be found to abandon the stand-alone option . However, I believe that the ideal operation is Banco Bpm because it would strengthen Unicredit's Milanese center of gravity. It is an aggregation of a certain type that requires a banker of a certain level, capable of creating and managing an open platform that can be integrated with others. Exactly as Orcel did with the Spanish BBVA ».
ORCEL'S MISSION IN UNICREDIT
According to Bertone, Unicredit's future number one has ample room for maneuver to relaunch a bank that has left some important businesses such as managed savings. «He will have to restart the commercial bank which is a well known profession in Bpm. And then it will also be able to reopen the game of integration with the German side ”, Bertone comments.
THE ROLE OF DEL VECCHIO IN UNICREDIT AND NOT ONLY
A chapter, the latter, set aside by the outgoing CEO Jean-Pierre Mustier, naturally projected towards France. "In this path, you will be able to count on Del Vecchio" who is however the great enemy of the wedding between Unicredit and Monte dei Paschi. And above all, in addition to being a shareholder of Unicredit, he is also a significant shareholder in Mediobanca and in Generali, two companies in which a delicate reorganization of the equity balance has been underway for some time.
GENERAL OBJECTIVE?
"With Orcel, a new axis could really be born which naturally sees Unicredit projected towards Mediobanca and in the Generali perspective", concludes Bertone.
AND INTESA SANPAOLO?
The working hypothesis is not certain, however, it can please Intesa Sanpaolo, which is Unicredit's eternal rival in the conquest of Mediobanca and which has already tried, in vain, to get its hands on the Lion of Trieste.
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START MAGAZINE INSIGHTS ON UNICREDIT, ORCEL AND MPS:
Unicredit, all (or almost) on Andrea Orcel who will replace Mustier
Unicredit, here's who cheers and who doesn't for Andrea Orcel
All about the barbina figure of Mps on a strategic level
All the new issues of Mps (which sbrocca after the scoop of the Republic)
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/orcel-in-unicredit-puntera-su-banco-bpm-fatti-e-scenari-secondo-bertone/ on Wed, 27 Jan 2021 14:40:22 +0000.