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)
HSBC Holdings (HSBA)