Italy’s UniCredit is to return previously outsourced back-office activities for securities services inhouse, creating more than 140 new jobs in Germany
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The internalisation will involve building out a back-office platform for the bank’s custody services business, initially focused on Germany, while staffing teams to manage these operations inhouse – creating more than 140 new jobs at its Hypoveriensbank subsidiary in Germany, where the service was previously mostly outsourced.
There will also be a further 60 roles created in Italy, drawing on both the market and the bank’s reskilling programme agreed with the trade unions.
The overhaul reflects a desire by the bank to provide a more unified platform for back office custody services across Germany and Italy.
“We are constantly developing our processes and checking whether it makes sense to build up external expertise internally,” says Marion Hรถllinger, CEO, HypoVereinsbank Germany. “We see great potential in our in-house custody services to strengthen our German business and at the same time maximise synergies throughout the Group.”
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