MILAN, Oct 26 (Reuters) - UniCredit (CRDI.MI), Italy’s biggest bank by market value, lost its top investment banker, Sergio Ermotti, on Tuesday, with sources saying he will leave when a replacement is found. [ID:nWEA4526]
Here are five facts about 50-year-old Ermotti, UniCredit’s best-known banker internationally since the abrupt departure last month of former group chief executive Alessandro Profumo:
* Joined UniCredit at the end of 2005 as head of the markets and investment banking division. He became deputy CEO in 2007 and has been more internationally visible than peers.
* Prior to joining UniCredit, Ermotti worked at Merrill Lynch (BAC.N) for nearly 18 years. Between 2001 and 2003 he was responsible for the firm’s equity markets activities globally.
* At Merrill Lynch, Ermotti, always impeccably dressed, worked in Switzerland, London and New York. Born in Switzerland’s Italian-speaking canton of Ticino, he is an Oxford management graduate and has a Swiss banking master degree.
* Made his first investment at 17 or 18, buying a bond for its yield, he told Reuters in an interview this year.
Suffered his first loss, investing in silver in the late 1970s, but later saw it as a good lesson. “You make money, you lose money. You need to live with this reality.”
* A self-described “lazy reader” who would like to read more history. Prefers doing sports and watching movies in leisure time, with “The Sting” his favourite film, trailed by “One Flew Over the Cuckoo’s Nest”.
Compiled by Ian Simpson and Danilo Masoni; Editing by Dan Lalor