November 8, 2017 / 1:45 PM / a year ago

Former Italian Finance minister in pole position to chair Unicredit - sources

MILAN, Nov 8 (Reuters) - Former Italian Finance minister Fabrizio Saccomanni is in pole position to replace Giuseppe Vita as chairman of Italy’s biggest bank UniCredit, two sources said on Wednesday.

Saccomanni, a former director general at the Bank of Italy, could be appointed to the UniCredit board on Wednesday before being picked as chairman in spring next year, when the board is renewed, the sources said.

UniCredit, which holds a board meeting on Wednesday on third-quarter results, declined to comment.

“The candidature of Saccomanni has grown considerably in the last few days,” one of the sources said.

Both sources said Saccomanni had the support of UniCredit Chief Executive Jean Pierre Mustier and was also someone who could be counted on to preserve the Italian-ness of the bank.

Reporting by Paola Arosio and Gianluca Semeraro, writing by Stephen Jewkes

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