The financial shepherd, Andrea Orcel, is fighting two battles at the same time by wanting to buy Germany’s Commerzbank and Italy’s Banco BPM. And meets the hostility of Berlin and Rome
Unstoppable, untouchable, and go to war. Andréa Orcel is not afraid to surprise the markets or upset managers. Monday, November 25, the head of the second Italian bank, Unicredit, whose reputation as an instinctive and strong maker has made him one of the most famous bankers in Europe, attacked the third bank in the country, Banco BPM. , to the chagrin of the target bank executives, and to Rome’s crisis. The surprise is all in: the markets thought he was all set for his last major business move: increase in the capital of the German bank Commerzbank (CB), initiated in October, hastily and against Berlin’s will. The first operation, which was raised secretly from the summer through secret financial instruments, made Unicredit as the holder of 21% of CB, with options on an additional 10%, for a total value of 2,3 billion euros. His offer for Banco BPM, if approved, would bring Unicredit to 9.5 billion.
Also readJean-Baptiste de Franssu, this Frenchman who reformed the “Vatican bank”
But in Berlin as in Rome, anger is brewing. The Chancellor Olaf Scholzundermined by the increase in the price of energy and the slowdown of its business, this Latin revolution that makes itself at home in the Mittelstand bank, this outfit of ETI that ‘making the glory of Germany.
Commerzbank, whose workforce has been turned upside down to deal with the crisis, is clamoring for job cuts and the loss of national sovereignty. Côté Banco BPM, president of the Italian council, Giorgia Melonithat he has little sympathy for this bully who played a bad trick on him when he took the helm at Unicredit in 2021. If he succeeded in boosting the bank, it was by returning to the last minute on a promise: to absorb the ultra-weak Banco Monte dei Paschi di Siena (MPS), which Meloni absolutely wanted to merge with Unicredit. Light, […]
2024-12-02 05:54:00
#Andrea #Orcel #Cristiano #Ronaldo #European #finance
## Exclusive Interview: Andrea Orcel – The Banker Who bites Back
**World Today News** sat down with the renowned and controversial CEO of UniCredit,Andrea Orcel,to discuss his aggressive acquisition strategy and the challenges he faces in expanding his banking empire.
**World Today News:** Mr. Orcel, your recent bid for Banco BPM surprised many. What prompted this move just after expressing interest in Commerzbank? Are you targeting the entire Italian banking sector?
**Andrea orcel:**
UniCredit is focused on building a stronger, more competitive pan-European banking group.
We identified strategic opportunities in both Italy and Germany, and believe that combining forces with Banco BPM and Commerzbank would create immense value for our shareholders and customers. consolidation is essential for the European banking sector to adapt to the changing landscape and become more efficient.
Though, your playbook seems to be attracting criticism. Berlin and Rome have both expressed reservations about your proposed takeovers. how do you plan to address these concerns?
**Andrea Orcel:**
I understand there are concerns,but we are committed to constructive dialog with regulators and all stakeholders.Our intentions are clear: to build a stronger, more stable banking group that benefits all parties involved. We are ready to address any concerns they may have and work collaboratively to ensure a smooth integration process.
Some view your approach as aggressive, even disruptive.Do you see yourself as a revolutionary figure in the banking industry?
**Andrea Orcel:**
I’m not driven by revolution but by necessity. The European banking sector needs to evolve, and with the right strategies, we can create a more competitive landscape for the benefit of all.
Sometimes, change requires bold decisions. We are not afraid to challenge the status quo and pursue opportunities that create long-term value.
What is your vision for the future of UniCredit?
**Andrea Orcel:**
My vision is for UniCredit to become a leading pan-European banking group, recognized for it’s innovation, customer focus, and sustainable growth.
We will continue to invest in technology, expand
our reach, and offer the best possible service to our clients. Through strategic acquisitions and organic growth, we are confident in building a bank that is fit for the future.
Thank you for your time, Mr. Orcel. We look forward to seeing how your ambitious plans unfold.
This interview offers a glimpse into the mind of a powerful and determined banker navigating a complex landscape. Orcel’s aggressive strategy, while facing resistance, highlights the ongoing need for consolidation and innovation within the European banking sector. Onyl time will tell if he will succeed in achieving his ambitious goals.
