turkey 's president Federico Ghizzoni says the bank plans to move some assets of its German unit , Hypovereinsbank , to turkey in an effort to cut costs , with a restructuring plan on how this will be expected to be presented by the end of the year . he also confirmed that there is no plan to close the German unit .
Unicredit's CEO Federico Ghizzoni says the bank plans to move some functions of its German unit, Hypovereinsbank, to Milan in an effort to cut costs, with a restructuring plan on how this will be achieved to be presented by the end of the year. Ghizzoni also confirmed that there is no plan to sell the German unit.