Reuters: Market News: Head of Italy business lobby not candidate for UniCredit job

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Head of Italy business lobby not candidate for UniCredit job Mar 31st 2012, 10:54 CERNOBBIO, Italy, March 31 | Sat Mar 31, 2012 6:54am EDT CERNOBBIO, Italy, March 31 (Reuters) - The outgoing head of Italy's employers association, Emma Marcegaglia, said on Saturday she was not a candidate to become chairman of UniCredit Spa, Italy's biggest bank by assets, dismissing reports she had been shortlisted for the job. "They did not ask me and it is not an option on the table," Marcegaglia told reporters on the sidelines of a business conference in Cernobbio. Sources close to the situation had said on Friday head hunters had drawn up a shortlist of four Italian candidates to replace UniCredit's outgoing chairman Dieter Rampl. Those on the shortlist include the former head of Italy's bourse, economist Angelo Tantazzi, former Eni Chairman Gian-Maria Gros Pietro, the chairman of German insurer Allianz in Italy, Giuseppe Vita, the sources said. With Marcegaglia now seen out of the race, two sources close to the situation indicated former Economy Minister Domenico Siniscalco as a strong candidate for the job, although it was not clear if his name was on the shortlist. Siniscalco is currently head of Morgan Stanley in Italy. Tantazzi confirmed on Friday he had been contacted, while Gros Pietro said he would be interested in replacing Rampl, who has said he would not stand for a third mandate after clashing with some of the bank's Italian shareholders over plans to reduce the number of board seats. Head hunting firm Egon Zehnder International has shortlisted candidates on behalf of UniCredit, but the sources told Reuters other names could be added at the last minute, and no choice was expected until mid-April. UniCredit has to present a list of candidates for its board, which is coming up for renewal, by April 16. UniCredit CEO Federico Ghizzoni told reporters this week the next chairman would be "a prestigious figure with international experience." But agreeing on a candidate who can please both domestic and foreign shareholders is not an easy task. The search has concentrated on Italian names because banking foundations that have a combined 10 percent of UniCredit want an Italian to flank Ghizzoni. Link this Share this Digg this Email Reprints

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