Deputy CEO of Zaba Appointed as Managing Director of Austrian Subsidiary Bank Austria

Last month, UniCredit announced a restructuring of its retail operations in Austria, targeting savings of 300 million euros. Subsequently, Bank Austria announced the departure of CEO Willibald Cernk.

The Italian bank UniCredit continued with management reshuffles, appointing on Friday the deputy CEO of the Croatian member of the Zagrebačka banka group, Romeo Collina, as the managing director of the Austrian subsidiary Bank Austria.

Last month, UniCredit announced a restructuring of its retail operations in Austria, targeting savings of 300 million euros. Subsequently, Bank Austria announced the departure of CEO Willibald Cernk.

On Friday, the Austrian bank announced that Helmut Bernkopf would leave his position as head of the commercial banking division on March 31, and that Romeo Collina, currently the deputy CEO of Zagrebačka banka, would take over as managing director at the beginning of the same month.

According to a statement on UniCredit’s website, Claudio Cesario, the current CEO of UniCredit Bank in Serbia, will take over Collina’s position at Zagrebačka banka on May 1 of this year.

Collina will also take on the role of deputy CEO of Bank Austria, currently held by Carlo Vivaldi, head of the Central and Eastern Europe division. Vivaldi will move to the Milan headquarters by the end of the year, which will take direct control of the large Central and Eastern Europe division as part of the planned restructuring.

Robert Zadrazil will take over as CEO of Bank Austria on March 1, managing all divisions except for corporate and investment banking, as stated in the Bank Austria announcement.

As part of the planned cost reduction, Bank Austria aims to transfer 3,300 employees from its own pension savings program to the state pension fund, which is opposed by the Austrian Ministry of Finance.