Reuters beats competitors as top investment banker quits UniCredit
10.26.2010
Reuters was first as Italys biggest bank UniCredit announced its top investment banker, Sergio Ermotti, would be leaving. Reuters was also well ahead of the competition with the whole shakeup saga, which began earlier in the day on Oct. 26 with news that Ermottis rival Roberto Nicastro was getting the upper hand in a power struggle. Analysts said Ermottis departure, the first casualty at the bank since former CEO Alessandro Profumo quit in anger last month, leaves UniCredits largest division without a leader adding to the speculative appeal of the stock and to the turnaround potential of the bank`s corporate and investment banking division.
