Corrado Passera, former CEO of Intesa Sanpaolo and former Italian Minister to head UniCredit Bank?

Former Italian Minister of Economic Development, Infrastructure and Transport Corrado Passera will be the new CEO of UniCredit Bank and the successor to the leaving CEO Federico Ghizzoni.

Passera is also the former CEO of UniCredit Bank's biggest Italian rival, Intesa Sanpaolo Bank, reports Reuters.

By the way, UniCredit Bank is under pressure from large investors to name the new CEO as soon as possible. Ghizzoni resigned by consent in May, following the criticism relating to the fall in the value of stocks and the inability to increase the bank's capital.

The bank's stocks have risen by 4% since the naming of Corrado Passera as the future head of the biggest Italian bank.