When Milan tightens the reins | EUROtoday
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The Italian banking group Unicredit, led by its CEO Andrea Orcel, likes issues to be clear. Its international subsidiaries are stored on a brief leash. Hypo-Vereinsbank (HVB) has been dwelling as much as what this implies for 19 years now. Cost-cutting measures and restructuring are a everlasting situation, and executives have left. If Unicredit now goes after Commerzbank, anxious glances from its Frankfurt headquarters will most likely be directed in the direction of Munich, the place HVB relies. This has been a part of the Italian banking group since 2005.
https://www.faz.net/aktuell/wirtschaft/unternehmen/uebernahme-der-hvb-durch-unicredit-wenn-mailand-die-zuegel-immer-enger-spannt-19979798.html