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Unicredit boss Mustier emerges as contender for HSBC CEO role - Bloomberg

February 20, 2020 at 12:27 pm EST

Unicredit Spa Chief Executive Officer Jean-Pierre Mustier has emerged as one of the main external candidates for the top job at HSBC Holdings Plc, Bloomberg reported on Thursday, citing sources familiar with the matter.

Mustier has been credited with turning around the biggest Italian bank through major restructuring in the past three years, including cost cuts, dumping bad debts and shrinking the bank's international presence.

Mustier has been in talks with HSBC about thejob, according to the report, although the board is still undecided and is considering candidates including the bank's interim chief, Noel Quinn.

Quinn took the interim role after HSBC ousted John Flint as CEO in August 2019 due to differences of opinion with Chairman Mark Tucker over Flint's more tentative approach to reviving growth.

Quinn, an HSBC veteran, is auditioning for the permanent role of CEO, which the bank said in August would be announced within six to 12 months.

HSBC on Tuesday announced a drastic overhaul to shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses that will mean 35,000 jobs cut over three years.

HSBC and UniCredit declined to comment.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Anil D'Silva)

Stocks treated in this article : HSBC Holdings Plc, Aerojet Rocketdyne Holdings, Inc., UniCredit S.p.A.

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DEERE & COMPANY	394.6 USD	-0.65%	-0.57%	110B
HSBC HOLDINGS PLC	663.6 GBX	-0.61%	+4.32%	153B
AEROJET ROCKETDYNE HOLDINGS, INC.	57.99 USD	+1.42%	+3.46%	4.67B
UNICREDIT S.P.A.	34.98 EUR	0.00%	+1.74%	62.88B

Jean-Pierre Mustier

Jean-Pierre Mustier is currently the Chief Executive Officer at UniCredit S.p.A.
(London Branch) and the Co-Chief Executive Officer & Executive Director at Pegasus Acquisition Company Europe BV.
He also holds the position of Non-Executive Chairman at Atos SE, Chairman-Supervisory Board at Aareal Bank AG, and Director at KT Educational Charitable Trust, Wembley Educational Charitable Trust, and Tikehau Investment Management.
In his former roles, Mr. Mustier served as the Group Chief Executive Officer & Executive Director at UniCredit SpA from 2016 to 2021.
He was also the Chief Executive Officer at UniCredit SpA Zweigniederlassung München, Director at LCH Group Holdings Ltd., Director-Supervisory Board at UniCredit Bank Austria AG, President & Director General at Société Générale Gestion SA, and Director at Alitalia - Trasporto Aereo Italiano SpA.
Additionally, he held the position of Head-Asset Management & Private Banking at Société Générale SA from 1987 to 2009 and Deputy GM, Head-Corporate & Investment Banking at UniCredit SpA from 2011 to 2014.
He served as the President of the European Banking Federation aisbl from 2019 to 2021 and is currently the President of Filarmonica Della Scala.
He is also a Partner at Tikehau Capital UK Ltd.Mr. Mustier completed his undergraduate studies at Ecole Polytechnique and École Nationale Supérieure des Mines de Paris.

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