UniCredit Eyes Commerzbank Board Overhaul in January
UniCredit could overhaul Commerzbank supervisory board as early as January to steer strategy. The Italian lender plans an extraordinary meeting after receiving regulatory approvals. UniCredit has secured nearly 50 percent of Commerzbank share capital.
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UniCredit SpA Chief Executive Andrea Orcel could overhaul Commerzbank AG's supervisory board as early as January to steer the lender's strategy, people familiar with the matter said Tuesday morning. The Italian bank has secured nearly 50% of its German rival's share capital after a two-year pursuit. The move aims to accelerate integration once final regulatory approvals are granted.
