Despite its involvement, NatWest was not fined as it revealed the cartel, while Bank of America, Natixis and Portigon also evaded penalties.
Key factors of UniCredit’s changes include streamlining the executive committee down to 15 people, removing a layer of management and increasing responsibility for country chiefs.
With the addition of Unicredit, BME Clearing now has 25 clearing members in the fixed income segment.
The UniCredit board of directors has nominated Andrea Orcel for the role of CEO, a decision expected to be approved at the bank’s upcoming annual general meeting.
Trad-X launched its electronic D2C CLOB platform earlier this year and has expanded participants with UniCredit and ACTIAM.
Eurex Clearing has cleared its first inflation swap transactions, with BNP Paribas, UniCredit and Societe Generale the first to submit trades.
BTIG launched its London-based fixed income credit division earlier this year as it expands services across Europe.
Amundi confirms it will purchase UniCredit’s Pioneer Investments for €3.5 billion.