UniCredit CEO Andrea Orcel is reviewing the bank’s relationship with French fund manager Amundi. Amundi currently manages assets for UniCredit clients. Their agreement is set to expire in 2027.
Mr. Orcel stated that any partnership renewal must be mutually beneficial. He emphasized that the bank will not extend the deal automatically. UniCredit is actively scaling back client money invested through Amundi. They plan to reduce this level almost to zero in the next two years.
This move aligns with UniCredit’s strategy. The bank aims to grow its profitability and reduce costs. The bank has recently pursued other strategic deals. For instance, UniCredit is expanding its own asset management capabilities. The CEO’s comments suggest he is open to new options. French bank BNP Paribas has already expressed interest in a partnership with UniCredit. The future of Amundi’s role hinges entirely on delivering value to UniCredit.
