August 7, 2019 / 2:55 PM / a month ago

UniCredit could shift December presentation from London over Brexit

FILE PHOTO: The Unicredit headquaters is seen at Porta Nuova's district downtown Milan February 17, 2015. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Italy’s UniCredit (CRDI.MI) could move a presentation of its latest business plan from London to Milan in the event of a no-deal Brexit, Chief Executive Jean Pierre Mustier said on Wednesday, emphasising the bank’s European focus.

Mustier, a Frenchman, is due to unveil the bank’s new 2020-2023 plan to investors on Dec. 3 in the British capital.

But with Prime Minister Boris Johnson vowing to pull Britain out of the European Union without a deal on Oct. 31 if Brussels refuses to renegotiate the terms of the divorce, Mustier was keen to show his European credentials.

“If we have a no deal Brexit, maybe we will have a financial communication in Milan because we want to remain in Europe. We are a very happy pan-European bank headquartered in Milan,” he told reporters after the bank released first-half results.

Reporting by Silvia Aloisi; Editing by Keith Weir

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