On June 30th, the Board of Directors of UniCredit SpA has co-opted Jean Pierre Mustier and unanimously approved that, starting from next 12 July, he will take on the position of CEO in replacement of Federico Ghizzoni.
One of his most important tasks in his new role will be to decide and execute on the fusion of Pioneer Investments with Santander Asset Management. Operation which, according to Reuters, will no longer happen once Ghizzoni left. The merger would create one of Europe's leading asset managers with over 400 billion euros in AUM.
According to a press release, the Board Chose Mustier because of his international profile, the high quality of his professional skills as well as the excellent understanding of international financial services and the accrued deep knowledge of the Group structure he has.
Mustier, 55, began his career at Société Générale where he held various positions, primarily within the Corporate & Investment Banking from 1987 to 2009. In 2003 he was appointed as Head of the Société Générale’s Corporate & Investment Banking Division and member of the bank’s Executive Committee. Afterwards, from 2011 to 2014, he joined UniCredit Group as Deputy General Manager and Head of Corporate & Investment Banking Division. Currently he is partner at Tikehau Capital, an investment management company and member of the Board of Directors of Alitalia.
In compliance with applicable regulations, the appointment of Mustier as CEO shall be assessed by the ECB.