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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  UniCredit SpA    UCG   IT0005239360

UNICREDIT SPA

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UniCredit : Chairman of Italy's UniCredit Fabrizio Saccomanni dies suddenly at 76

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08/08/2019 | 01:07pm EDT
FILE PHOTO: Bank of Italy General Director Saccomanni poses during a meeting organized by young Confindustria members in Santa Margherita Ligure

ROME (Reuters) - Fabrizio Saccomanni, chairman of Italy's biggest bank UniCredit and a former Italian economy minister, has died suddenly at the age of 76.

UniCredit announced the death of Saccomanni on Thursday, only a day after the former deputy governor of the Bank of Italy attended the bank's results presentation in Milan.

"I have lost a friend of great intelligence and humanity, highly competent with a fine sense of culture and wit," UniCredit Chief Executive Jean Pierre Mustier said.

Saccomanni was appointed chairman of UniCredit's board, a non-executive role, in April last year as part of measures taken to improve corporate governance. The bank has been run by Mustier, a Frenchman, since July 2016.

"Our daily interactions were both stimulating and intellectually challenging. UniCredit has also lost a chairman who expertly guided the board through a period of intensive challenges, always maintaining a clear strategic vision and a strong sense of direction," Mustier added in a statement.

Born in Rome in 1942, Saccomanni earned a degree in economics from Milan's Bocconi university before moving on to postgraduate studies at Princeton in the United States. He held a series of senior roles representing Italy at the International Monetary Fund, the European Central Bank and other European institutions.

Deputy Chairman Cesare Bisoni will take on Saccomanni's role at UniCredit pending the appointment of a new chairman, the bank said.

(Reporting by Stefano Bernabei and Gianluca Semeraro, editing by Silvia Aloisi/Keith Weir/Alexandra Hudson)

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Financials (EUR)
Sales 2019 18 567 M
EBIT 2019 8 536 M
Net income 2019 5 272 M
Debt 2019 -
Yield 2019 5,34%
P/E ratio 2019 4,48x
P/E ratio 2020 6,51x
Capi. / Sales2019 1,34x
Capi. / Sales2020 1,31x
Capitalization 24 799 M
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Mean consensus BUY
Number of Analysts 27
Average target price 14,03  €
Last Close Price 11,15  €
Spread / Highest target 52,2%
Spread / Average Target 25,8%
Spread / Lowest Target -46,1%
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Managers
NameTitle
Jean-Pierre Mustier Chief Executive Officer & Director
Fabrizio Saccomanni Chairman
Ranieri de Marchis Co-Chief Operating Officer
Carlo Vivaldi Co-Chief Operating Officer
Mirko Davide Georg Bianchi Group Chief Financial Officer
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