(Alliance News) - UniCredit Spa on Friday announced plans to internalize back-office operations related to securities custody in Italy and Germany, standardizing the set-up and suppliers, in a move that will create more than 200 new job opportunities.

As the company explained in a note, the internalization will involve the creation of a back-office technology platform for the bank's securities custody services business, initially focused on Germany, and the deployment of new resources to manage these operations in-house.

The decision will result in the creation of more than 140 new job opportunities in Germany, where the service was previously mostly outsourced. And another 60 in Italy, drawing on both the market and the reskilling program the bank recently agreed with unions.

UniCredit gives up 0.5 percent to EUR40.36 per share.

By Claudia Cavaliere, Alliance News reporter

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