UniCredit has appointed George Stein as head of Global Transaction Banking for the UK, with responsibility for strengthening the bank’s UK-based capabilities and business in trade finance and cash management. Based in London, Mr. Stein reports to Claudio Camozzo and Ernst Ohmayer, co-heads of Global Transaction Banking. The appointment is effective immediately.
Previously Mr. Stein served in senior roles in corporate and transaction banking at Bank of America, Deutsche Bank and Chase Manhattan, and at financial IT suppliers, which specialise in payments, financial messaging and billing, including VocaLink, Sentenial, Zafin and ACE Software. He has broad international experience having worked in London, New York and Frankfurt.
Claudio Camozzo, co-head of Global Transaction Banking, said, “We are very pleased to appoint Mr. Stein to this important role in London, where he will help build the trade finance business and enhance our cash management capabilities in the UK.”
Ernst Ohmayer, co-head of Global Transaction Banking, added, “The expertise Mr. Stein has developed both at leading transaction banking institutions and financial IT service providers, and his experience of working in the UK, German and US markets, will be invaluable as we support the development and growth of our customers across Western, Central and Eastern Europe and beyond.”
In trade finance, UniCredit was the first bank to complete a BPO transaction between Germany (Rühr- und Verfahrenstechnik, a producer of industrial mixers) and Japan (Mitsui & Co. Plant Systems, a provider of equipment and facilities to the industrial sector) and between Italy (SPIG, a producer of industrial cooling systems) and Germany (SPIG’s supplier, a UniCredit Bank AG customer). In cash management, UniCredit is a leading provider of account services, payments and collections in Italy, Germany and Central and Eastern Europe.