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Stefano Porro, currently co-CFO alongside Bianchi, will assume sole responsibility for the job and report to Wouter Devriendt, the former Dexia CEO now in charge of group finance and controls at UniCredit.
Bianchi, who will be supported by deputy Stefano Vecchi, the current head of wealth management in Italy, will report directly to UniCredit’s co-CEOs for commercial banking in western Europe, Francesco Giordano and Olivier Khayat.
Bianchi replaces Marco Bizzozero, who has decided to leave the group to work at a U.S. fintech firm.
The appointments are effective from Thursday.
