Customers: Inviduals and Families-
Companies
Product committees
The section on the “Corporate Governance Approach”, which is based on transparency, well-informed
management and compliance with the rules and principles of professional ethics, also includes a reference to
the Product Committee, as a meeting point between company strategies and the management of customer
relations and the fulfillment of their needs, while providing concrete sustainable solutions over time.
In line with the goals of the “ONE4C” Project, the Committees of UniCredit SpA’s three Italian networks (i.e. Family
& Small and Medium Enterprises Italy Product Committee, Private Banking Product Committee and Corporate and
Investment Product Committee) and the Product Committees of the Group’s main Italian companies continued their
work in 2012.
Specifically, in line with the sustainability principles defined in the Group guidelines and policies, and coordinating
with the other bodies and functions of UniCredit involved/responsible, these Product Committees worked to ensure
the consistency of external and internal regulations on products and services offered and commercial campaigns
and initiatives, by firstly assessing the individual competent functions and, thus, with an overall vision.
In this view and with this goal, the Committees offered an additional opportunity for discussion and synthesis
on conclusion of the process of creating banking and non-banking, financial, investment and insurance
products/services which are part of UniCredit’s commercial strategy, as well as campaigns/initiatives to
support marketing activities, in order to strike the right balance between our products and services, compliance
with regulations and meeting customers’ needs over time.
The activities of the Committees in the Italian network took the operational form of binding opinions on the
admissibility of commercial products and services, which:
• ensure – with a view to value generation for all stakeholders – the commitment to putting customers first
• assess external and internal regulations and all related implications on risk
• safeguard business needs and those of customers with a time-to-market perspective
Now, following the reorganization launched with the “GOLD” Project to more effectively support customers and
local communities, but substantially continuing on from the previous Committees (which ceased operations on
14 January 2013), two new Product Committees have been established:
• the CIB Italy Product Committee, for activities concerning CIB Italy operations of the CIB Division, targeted to
Corporate Investment Banking customers (in the set up phase), under the direction of the Head of CIB Italy Network
• the Country Italy Product Committee, for activities concerning Commercial Banking Italy, focused on Italian
network customers, under the direction of the Italy Country Chairman, with the support of a Technical
Secretariat that ensures its continuity and pro-active operation
In this new organizational context, and in light of the current conditions of the national and international
markets, the Country Italy Product Committee began operations. A managerial body which, in fulfilling the goals
of its Chairman (the Italy Country Chairman) must achieve its assigned mission not only by issuing a formal opinion
on the suitability of products and services for sale, commercial initiatives and personnel incentive campaigns, but
also – where suitable/necessary – by defining operational instructions and/or changes to the features/structure
of products/services/initiatives to better ensure customer satisfaction. The goal of these actions is to ensure and
maintain the overall quality of the following, over time:
• commercial products and services, adjusted to customers’ needs over time
• correct, fair and sustainable prices, both due to suitability and low cost for customers and profitability of the Bank
• regulatory compliance and operational excellence in the entire sales and marketing process
UniCredit’s commitment and achievement are represented in its way of banking and, also through the Country Italy
Product Committee, in its every day operations meeting the needs of customers and the communities it serves.
50 2012 Sustainability Report · UniCredit