Bellwether

摘要

As another year of harsh restructuring draws to a close for the European banking industry, it's time to pay tribute to the executives who have sweated blood and tears for the cause. But they've had enough publicity already, so what of the bankers who toil away from the spotlight, or better still those who have been clever enough to stay under the radar altogether? Take Italy's UniCredit, for example. While the bank's CEO Jean Pierre Mustier slaved away at UniCredit's capital markets day explaining the bank's new strategy, what was remarkable was that among the 14,000 job cuts, a €13bn capital increase and a €17bn sale of non-performing loans, it was easy to forget that none of these actions were due to problems caused by UniCredit's investment bank - an almost unique occurrence when compared to the overhauls at, say, Deutsche and Credit Suisse.