He succeeds Gianni Papa, who will be in charge of the entire corporate banking of the Group from the beginning of the next year;

Carlo Vivaldi has gained professional experience in Yapi Kredi in Turkey and in UniCredit Bank Austria.

Carlo Vivaldi, Deputy Chief Executive Officer of Yapi Kredi, will lead the business of UniCredit in Central and Eastern Europe from February 16, 2015. In this position he will succeed Gianni Papa, who will head the Group's corporate and investment banking.

The name of the new Head of UniCredit for CEE was announced officially today at the meeting of the Board of Directors of the Group, which approved also the financial results for the third quarter. The news for Gianni Papa's professional advancement was announced at the beginning of August.

The appointment of Carlo Vivaldi as CEE Head is to be approved also by the Supervisory Board of Bank Austria.

Carlo Vivaldi, born in Treviso, Italy, is 48 years old. He has a degree in Business Administration from Ca’ Foscari University in Venice. He began his career in 1991 as a teller in a bank of UniCredit Group in Cassamarca. In 2000 he became the Head of Planning and Controlling Division of New Europe, working for development of the business of UniCredit in Central and Eastern Europe. Then he was appointed Chief Financial Officer, first in Yapi Kredi in Turkey and later in UniCredit Bank Austria. Since January 2011, he has been Deputy Chief Executive Officer of Yapi Kredi.

The Chief Executive Officer of UniCredit Federico Ghizzoni has commented the appointment: "The appointment decided today by the Board is consistent with the outcomes of the Executive Development Plan (EDP) and the related succession planning, and further testifies our ability to develop internal talents, who have grown within the Group also through international experiences, fostering the growth of a strong top management line."

In addition Gianni Papa says: "I am sure that Carlo Vivaldi, whom I had the opportunity to know and appreciate personally over the years, is the best person to continue the development and consolidation process in a region having a strong strategic importance for our Group."

More information for media:

UniCredit Bulbank, Identity & Communications Department

Ekaterina Ancheva, Phone: + 359 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch