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UniCredit takes control of CEE division from Bank Austria

UniCreditSpA said the transfer of the central and eastern European division,including shareholdings of CEE subsidiaries, from to theItalian parent has completed.

The reorganization is effective Oct. 1.

UniCredit said the reorganization will allow it tosimplify its structureand strengthen the central steering functions under the direct supervision ofgroup General Manager Gianni Franco Papa.

Carlo Vivaldi, head of the CEE division, will continue tohead the division's management team. Vivaldi will be supported by AndreaDiamanti as head of CEE CIB, Ivan Vlaho as head of CEE retail andJan Tronicek as head of CEE private banking. The majority of the team willcontinue to be located in Vienna.