UniCredit : Wealth Management strengthens in Italy with the arrival of Stefano Vecchi

Stefano Vecchi joins UniCredit as Head of Wealth Management Italy. He will also work alongside Cordusio Sim's CEO Paolo Langé as a member of the company's board of directors. As of March 2020, Stefano Vecchi will become CEO of Cordusio Sim while Paolo Langé will become Chairman of the board of directors.

Stefano Vecchi joined UniCredit as the Head of Wealth Management Italy, a member of the Group Wealth Management Executive Committee of UniCredit, ensuring the supervision of the Italian Wealth Management activities. At the same time, he has also become a member of the board of directors of Cordusio Sim, working alongside the CEO Paolo Langé to lead the company. This ensures an optimal business transition until March 2020, when Vecchi will succeed Langé as CEO, who will become Chairman of the board of directors of Cordusio Sim.

Thanks to his consolidated professional experience, Stefano Vecchi will contribute significantly to strengthen the position of UniCredit Wealth Management in Italy which, with a strong presence also in Germany and Austria, aims to become one of the European industry's top players.

Commenting on the appointment of Stefano Vecchi, Marco Bizzozero, CEO of Group Wealth Management stated: 'Stefano's arrival represents a decisive step in our journey to become one of the Wealth Management leading players in Europe. His expertise, his solid professional experience and his leadership will allow us to further strengthen our growth strategy in Italy, which began with the crucial contribution of Paolo Langé, who, in few years, managed to position Cordusio Sim as one of the leading players in the country for Wealth Management'.

Paolo Langé, CEO of Cordusio Sim, added: 'I am very happy that we have identified a person of such great substance and potential as Stefano, who will succeed me at the helm of Cordusio. I am pleased that we will work together in the coming months to ensure a smooth transition, ensuring continuity for our customers to make Cordusio even stronger, also in my role as Chairman in the future. I wish Stefano every success in his new position'.

Milan, September 12, 2019

Biography

Stefano Vecchi was born in 1979 and graduated in Corporate Finance from Bocconi University in 2002. Before joining UniCredit, Stefano Vecchi was Head of Private Banking at Credit Suisse in Italy and CEO of Credit Suisse SpA. Vecchi joined Credit Suisse Italy in 2011, responsible for the North East Region. In 2012, he was appointed head of Advisory and Sales for the Italy and Monaco markets, also supervising the Credit Suisse M&A transactions in Italy, including the purchase of Morgan Stanley's private banking activities and the sale of the bank's affluent activities.Before joining Credit Suisse, he worked for more than ten years at UBS private banking. He was Vice Chairman of the Board of Directors and a member of the Management Committee of AIPB.