Italy’s UniCredit has announced plans to bring previously outsourced back-office activities for securities services back in-house, resulting in the creation of over 140 new jobs in Germany.
The initiative will focus on developing a back-office platform for the bank’s custody services business, primarily centered in Germany. This shift aims to establish internal teams for managing these operations, transitioning away from a reliance on external providers. Additionally, 60 new positions will be created in Italy, leveraging both the market and the bank’s reskilling program, which has been coordinated with trade unions.
This restructuring aims to create a more integrated back-office custody service across both Germany and Italy. Marion Höllinger, CEO of HypoVereinsbank Germany, stated, “We are continually refining our processes and assessing the feasibility of bringing external expertise in-house. We see significant potential in our internal custody services to bolster our operations in Germany and enhance synergies within the Group.”