Weekly Global News Wrap: Julius Baer seeks new CFO; UniCredit mulls liquidating Russia unit

And an RBI official criticized FX market makers for aggravating the rupee’s weakness, according to a report.

From Reuters:
Julius Baer is replacing its chief financial officer (CFO), with the bank confirming the search in a statement, reports Reuters.

Current CFO Evie Kostakis will be stepping down in the second half of 2026. She is reportedly pursuing another international leadership opportunity following an orderly transition, the bank said.

From Reuters:
Italian bank UniCredit has reportedly abandoned plans to sell its Russian unit and is considering liquidating the business and relinquishing its banking license in Russia instead, Reuters reported, citing a Kommersant article published on 10 April, citing unnamed sources.

UniCredit was one of Russia's top 15 banks when Moscow launched its war in Ukraine in February 2022.

From Bloomberg:
A senior official of the Reserve Bank of India (RBI) criticized foreign-exchange market makers for their role in aggravating the rupee’s weakness during the Middle East tensions.

Addressing an annual foreign exchange dealers’ conference in Paris at the weekend, Deputy Governor T. Rabi Sankar said the arbitrage between local and offshore markets strained dollar liquidity at a time when the rupee was under pressure due to large foreign outflows, according to people familiar with the matter.