13th August 2019

Chairman of UniCredit Fabrizio Saccomanni dies suddenly, aged 76

It has been reported that Fabrizio Saccomanni, chairman of UniCredit, Italy's biggest bank, has died suddenly at the age of 76. The bank said deputy chairman Cesare Bisoni has taken over as interim chairman until a new appointment is made.

In a statement, Jean Pierre Mustier, UniCredit Chief Executive, said: "I have lost a friend of great intelligence and humanity, highly competent with a fine sense of culture and wit. Our daily interactions were both stimulating and intellectually challenging. UniCredit has also lost a chairman who expertly guided the board through a period of intensive challenges, always maintaining a clear strategic vision and a strong sense of direction.”

Mr Saccomanni was appointed chairman of UniCredit's board, a non-executive role, in April 2018, as part of measures taken to improve corporate governance. He earned a degree in economics from Milan's Bocconi University before moving on to postgraduate studies at Princeton in the US. He held a series of senior roles representing Italy at the International Monetary Fund, the European Central Bank and other European institutions.