UniCredit to announce deal with external broker to replace in-house Western European equities business
UniCredit will announce on Tuesday morning that it has signed an exclusivity agreement with a third party brokerage to provide the Italian bank with Western European cash equities and research functions, according to market sources.
The move will see Kepler Capital Markets effectively replace the UniCredit in-house teams, will result in the loss of about 130 positions at UniCredit, including 60 in London.
Spokespeople for UniCredit would not comment on the speculation on Monday. The agreement was not mentioned in the Italian bank's new
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