Reuters, MILAN, June 29 – According to two sources familiar with the situation, UniCredit (CRDI.MI) will see more senior management changes in the coming weeks as part of new CEO Andrea Orcel’s reorganization of Italy’s second largest bank. Orcel announced an overhaul of top management in May, little than a month after inheriting the position, streamlining a system built by his predecessor Jean Pierre Mustier. find out more Orcel eliminated co-heads for key responsibilities, reduced the number of internal committees from 44 to 15-20, and replaced a 27-member executive management committee with a 15-member committee. According to the sources, the bank is moving forward with a rearrangement of senior management reporting to the 15-person group executive committee, which will be announced to employees in the coming weeks. UniCredit’s spokesperson declined to comment. Fiona Melrose, the former head of strategy for the investment bank at UBS, is now in charge of “Strategy and Optimisation” at UniCredit, thanks to the ex-boss of UBS’ investment banking arm. Last week, sources informed Reuters that Giacomo Marino, a former UBS banker, was scheduled to join Melrose’s team, leaving his role at Cariverona, a UniCredit shareholder. Orcel took over as CEO of UniCredit in mid-April after a strategy disagreement with his predecessor. find out more He is expected to present a new business plan later this year, and he has hinted that mergers and acquisitions may be considered as a method to speed up his approach for increasing UniCredit’s profitability. find out more Our Standards: The Thomson Reuters Trust Principles; reporting by Valentina Za and Elisa Anzolin; editing by Jason Neely Continue reading