UNICREDIT

Unicredit CEO Andrea Orcel promises German corporate clients no cutbacks but more services following the announced takeover of Commerzbank, and says the bank will not reduce ties to clients. Experts warn of concentration risks: about 800 syndicated loans with a volume of roughly €500 billion list both banks frequently as lenders, especially in mechanical engineering and the automotive supplier industry. The statement lacks concrete commitments or figures, and it remains unclear how future foreign financings and the business model with the federal government will be handled. » More on faz.net

Pier Carlo Padoan will resign at the end of his term for personal reasons; the transition and timing were agreed amicably. Padoan took the post in 2021 and was re-elected for three years in 2024; the bank praises his “highly successful” tenure marked by record profits, above‑average distributions and strengthened capital. He supported CEO Andrea Orcel, for example in the fight over Commerzbank. The nomination committee under Jeffrey Edberg is seeking a successor; Padoan is expected to closely oversee the transition. » More on handelsblatt.com

UniCredit said Chairman Pier Carlo Padoan will resign for personal reasons at the end of his term. The board is working on appointing a successor as part of an "orderly transition" and is prioritizing leadership continuity. Padoan's term ends on the date of the annual general meeting to approve the 2026 financial statements, which is yet to be confirmed. CEO Andrea Orcel stressed that the board and Group Executive Committee remain fully focused on executing the strategy; the stock initially weakened, falling up to 0.94 percent to 73.64 euros. » More on finanzen.net