Prospectus - Notowania

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The combination is consistent with the new integrated management model for the mortgage and consumer loan
businesses, launched with the creation of a “household financing department” at the Parent company.
This approach will not only encourage the cross-selling of the products concerned, but will also achieve operating
synergies, especially in governance functions, as well as greater efficiency than the previous organizational/distribution
model with the resulting rationalization of cost structures and simplification of corporate structures.
As of April 1, 2009, UCFin took on the new name of “UniCredit Family Financing Bank” to better convey to the market
the completeness of its offerings and to strengthen its internal identity.
Rationalization of the salary-guaranteed loan business within UCFin
In order to implement the integration of the salary, pension and payment mandate guaranteed loan business, currently
handled either by UCFin or its fully-owned subsidiary Fineco Prestiti, and to enable improved risk control and the
achievement of cost synergies, on November 9, 2009, a partial spin-off to UCFin of the “salary-guaranteed loan”
business unit of Fineco Prestiti was concluded, represented essentially by the assets, liabilities, resources, rights,
obligations and, in general, all the substantial subjective situations involved in the assessment, disbursement and
management of salary, pension and payment mandate guaranteed loans.
After this operation, Fineco Prestiti, as well as managing its own distribution network of 40 agents and 80 brokers and
the associated activities of commercial support, will also continue to handle pension-guaranteed loans to individuals who
receive their pension payments from INPS and are unconnected with the representative companies.
Implementation of a new management model for leasing operations
at the Group level
The project for the implementation of a new management model for leasing, begun in June 2008, in order to ensure
better management and coordination of leasing activities worldwide, was completed in January of this year.
This project was completed with the business combination, effective as of January 1, 2009, of UniCredit Global Leasing
and Locat (which changed its name accordingly to “UniCredit Leasing”) and the allocation to the latter (as the operating
sub-holding company) of the activities of guiding, coordinating and controlling the business concerned at the Group level
in accordance with the Parent company’s guidelines, as well as directly managing the business in Italy.
This structure allows for a quicker and easier transition from the organizational/distribution model (characterized by a
“non-homogenous” mix of companies located in different countries and overlapping structures) to the new business
management model focused on the creation of a global company that is charged with managing the business in a
uniform manner, optimizing resource allocation, and at the same time leveraging the unique features of each country
and/or specific business area.
In addition, this approach has laid the foundation for:
� a significant simplification in organization;
� a simplification of governance and key processes;
� a reduction in the number of legal entities (using, where possible, the model of the sub-holding company’s foreign
branches), thereby making the organizational structure more streamlined and “flat” and shortening reporting lines;
� a better transfer of best practices to facilitate the exchange of skills in the Group’s complex leasing operations
(including through the establishment of dedicated “competence centers” managed in a uniform and coordinated
manner);
� the ability to take advantage of a commercial strategy based on the “one face to customers” model, which is
specifically intended for the vendor agreement and cross-border leasing segment.