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By Richard Metcalf
14 May 2021
Bankers woke up on May 12 to find themselves in a changed world, quickly realising they would need to adapt to a new set of circumstances.
No, not the capital markets bankers who are suddenly dealing with higher than expected US inflation figures, but the senior figures at UniCredit who finally found out what CEO Andrea Orcel had in store for them.
The changes at the top of the Italian lender came suddenly and unexpectedly, according to sources at the bank. Those tasked with communicating the firm’s strategy to the outside world claimed that even
they did not know who had survived the chop and who had not.