imageMILAN: 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.

Copyright Reuters, 2015

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