UniCredit plans to bring 54 securities-services specialists in-house

UniCredit announced on 20 October a planned transfer of a dedicated business unit and 54 specialists from Société Générale Securities Services SpA in Italy. Completion is expected no earlier than January 2027, subject to the applicable procedures and implementation steps.[1]

Their work includes reference-data management, corporate actions and ancillary securities-settlement tasks. The transfer contributes to the bank’s existing transformation programme involving more than 200 roles across Italy and Germany; the two figures describe overlapping scopes.[1]

The operating model separates direct control of processing work from the supply of custody and software. UniCredit’s September 2025 partnership announcement set out the following division of responsibilities.[2]

That structure gives the bank a different management task from outsourcing the entire workflow. Internal staff must coordinate with the custodian and technology supplier, with clear responsibility for data corrections, corporate-action processing and settlement exceptions. Bringing staff onto the payroll alone cannot demonstrate that those interfaces are working effectively.

The October disclosure identifies a staffing and business-unit milestone, rather than reporting achieved savings or a completed migration. Its timing leaves the implementation work ahead of the earliest expected transfer date.[1]

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