Andrea Orcel

Money Moves

Abandoned his 2024–25 bid for Banco BPM

Crédit Agricole already owns 29.6% of Banco BPM. On Nov. 9, it proposed folding its Italian subsidiary into the Milan-based lender, creating a bank with 6.5 million customers and more than 2,300 branches. Banco BPM shares jumped 11%; Crédit Agricole's fell about 1%.

Updated 2 days ago

Money Moves

Leading the takeover of Commerzbank

The European Central Bank gave UniCredit permission on Oct. 15 to raise its stake in Commerzbank above 30%, with no upper limit. The approval lets the Italian bank take delivery of shares tendered in its €45 billion offer. UniCredit expects to hold about 50% of voting rights and take control around the end of 2026, once the remaining regulatory steps are done.

Updated 7 days ago

Money Moves

Overseeing the Russian exit

On October 5, Vladimir Putin signed an order letting UniCredit restructure its Russian subsidiary and sell most of it to a UAE-based private investor. The Italian bank keeps a slimmed-down payments operation; the buyer takes the rest.

Updated Oct 17