UniCredit to internalise securities back office with new platform, creating over 200 jobs in Italy and Germany
UniCredit will create more than 200 new positions through newly announced plans to internalise its back-office operations for securities services in Italy and Germany.

UniCredit to internalise back office for securities services
The internalisation process will be led by the development of a new back-office platform, initially focused on the bank’s German custody services business, which is currently managed under HypoVereinsbank, a subsidiary UniCredit acquired in 2008.
A statement from the group, which solidified its presence in Germany through its purchase of a 9% stake in Commerzbank in September, confirms that back-office services throughout this division were “previously mostly outsourced”, with the ascent of a new dedicated platform projected to create 140 new roles.
A further 60 jobs will be created in UniCredit’s home market of Italy through a reskilling programme created in collaboration with unnamed trade unions. The bank says it is also in “close contact with the relevant Works Councils to define the necessary next steps together”. An official timeline of proceedings has not been disclosed.
The intended outcome of these efforts is to deliver “a standardised approach across Italy and Germany, underpinned by common partners and a modern platform”, the statement continues, and ultimately “a more secure, flexible and cost-efficient foundation for the delivery of the bank’s custody services”.
“We continue to focus on the simplification of our business – internalising value chains and leveraging our scale so we can become more impactful on behalf of our clients,” comments Richard Burton, head of client solutions at UniCredit. “This latest move in custody services is a step in the same direction”.