Italy’s UniCredit has appointed Massimiliano Fossati as chief risk officer for Italy, effective from the start of next month.

Fossati succeeds Juergen Kullnigg, who is moving over to UniCredit Bank Austria to oversee the Austria and Central and Eastern European markets.

Fossati has been with UniCredit for two years, having previously worked for Turkey’s Yapi Kredi Bank.

In other developments at UniCredit Group, earlier this month the firm’s Pioneer Investments arm appointed Jonathan May to the newly-created post of head of institutional business development UK.

Based in London, May reports to David Hanratty, head of UK and Ireland distribution. He will be responsible for UK institutional business development strategy and will coordinate Pioneer’s international consultant relations activity.

May joined Pioneer from Aviva Investors, where he was head of global consultant relations.

This was the latest in a series of appointments by Pioneer to expand its London team.