--UniCredit SpA is planning to slim down its corporate structure in a move that will see the departure of Stefano Vecchi, who heads its Italian private-banking and wealth-management unit, Reuters reports, citing an internal memo.

--The change follows Chief Executive Andrea Orcel taking direct responsibility for managing the Italian bank's domestic activities, Reuters reports.

--UniCredit didn't immediately respond to a request for comment from Dow Jones Newswires.

Full story: https://reut.rs/3z5liD4

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

July 25, 2022 11:31 ET (15:31 GMT)

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