MILAN: UniCredit is working to simplify its management structure, a spokesman for the Italian bank said on Friday when asked about a possible departure of Managing Director Roberto Nicastro.
"The company is considering simplifying its structure in a plan that will be discussed at a board meeting on August 5," the spokesman said. Financial daily Il Sole 24 Ore reported on Friday Nicastro would soon leave UniCredit, possibly headed for BNP Paribas' Italian unit BNL.
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