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Transcript of crisis management
CCM 2012 Unicredit Bank- crisis management 40 million customers in 22 countries
UniCredit Bank was set up as International
Moscow Bank (IMB) in Moscow on
19 October, 1989. History overview 1989 In 2001 IMB merged
with Bank Austria Creditanstalt (Russia),
an affiliated company of Bank Austria Creditanstalt (Vienna, Austria). 2001 In 2005 Bank Austria joined UniCredit Group
and so the Group became one of the shareholders
of the Bank... 2000 “Central European”
IMB the title of
“The Best Russian bank of
the decade” (1989–1999). 2005 On 11 May 2007 at the Annual meeting the Bank shareholders decided to change its name and perform activities of the Bank under a brand of UniCredit Bank. In July 2007 Bank Austria Creditanstalt (Vienna, Austria) purchased 100-percent block of shares of IMB. 2007 2006 424 million $ for
UniCredit Securities Ltd. Background information
UniCredit Bank in Russia purchased investment bank "Aton", which further became "UniCredit Securities Ltd".
winning against rival suitors that included Goldman Sachs Group Inc. and JPMorgan Chase & Co., according to Russian media at the time. What is UniCredit Securities?
specializes in offering financial products and advisory services to institutional investors, large corporations and international institutions.
provides its clients with access to Russian and international stock exchanges and is acting as a global co-ordinator and advisor.
It is based in Moscow, and at the same time part of UniCredit Group's global research team, granting for top standards in client advice. 106 branches in Russia
3,700 employees serving
90,000 retail customers and 22,600 corporate clients 2011 UniCredit Securities said to be a failure and most of it's employers transferred to the UniCredit Bank. The CEO of the company Sergey Sidorov left . No comments from the UniCredit???? October "The Italian team wasn't probably ready to bear the additional risks associated with the operations of the financial markets," - says the analyst of "TKB Capital" Maria Kalvarskaya. "It's obvious, that the UniCredit group since the crisis of 2008, has not been oriented on the development of this business - analyst IK" Metropol "Mark Rubinstein. - Company's employees, and the group's leaders have hinted at this for some time. And when the debt problems emerged in the euro area, the main task of foreign bank players was the sale of superfluous assets" August Bank Austria Chief Financial Officer Francesco Giordano told journalists in Vienna: “We have reassessed partially our activity, and UniCredit wants to “do securities business mostly as support for corporates and a little bit less as a standalone activity.”
Giordano said the brokerage’s profit for the first half of 2011 was “about zero.” UniCredit will merge CJSC UniCredit Securities with ZAO UniCredit Bank. 2012 UniCredit Securities Ltd
was said to be closed no comments from UniCredit! Crisis Management Crisis management is the process by which an organization deals with a major event that threatens to harm the organization, its stakeholders, or the general public. Probability Impact What was the risk of crisis when purchasing Aton in 2006? Crisis Management Strategy Accomodation strategy through perfomance!- perception of organizational responsibility is high!
not much information in media from UniCredit. Thank you very much for your attention and choose your crisis management strategy carefully