UniCredit has unveiled a new leadership team for its corporate and investment bank, eliminating some senior roles as the bank looks to simplify its organisation under new boss Andrea Orcel.

The Italian lender has made a flurry of changes to its corporate and investment bank, including stripping out some dual leadership roles as it looks to "simplify set-ups, increase transparency, and boost accountability" under Orcel's leadership, according to an internal memo sent by CIB boss Richard Burton, seen by Financial News.