MILAN, Feb 21 (Reuters) - Shares in Italy's biggest bank
UniCredit fell more than 1% at open on Friday following reports
Chief Executive Jean Pierre Mustier is being considered for the
top job at rival HSBC.
HSBC this week unveiled a drastic overhaul, the third since
the financial crisis, under interim CEO Noel Quinn.
Bloomberg News reported on Thursday Mustier had emerged as a
contender for the job, which Quinn is vying to secure on a
permanent basis. HSBC said in August it would pick a permanent
CEO within six to 12 months.
A source familiar with the matter confirmed to Reuters
Mustier is a candidate. Both banks declined to comment.
UniCredit shares were down 1.3% in early trade on Friday,
following a 2.9% drop the previous day when it underperformed a
2.1% fall in the sector.
Mustier arrived at UniCredit in mid-2016 to oversee a
turnaround that has seen the bank slash costs and bad debts
while also selling assets and new shares to boost capital.
(Reporting by Valentina Za and Giselda Vagnoni)