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The Italian bank is due to hold its annual meeting of shareholders on March 31.
UniCredit shareholders are asked to approve a new pay structure for CEO Andrea Orcel that offers a 30% rise if the bank beats a wide set of targets this year.
Orcel’s current pay package of up to 7.5 million euros ($8.06 million) a year makes the former head of investment banking at Swiss lender UBS one of Europe’s best paid bank executives.
The Norwegian fund owns 2.65% of UniCredit’s shares, worth some $728 million, at the end of 2022, according to fund data.
($1 = 0.9301 euros)
