MILAN (Reuters) – UniCredit is revamping its construction so that every one home firms from small companies to giant multinationals are sorted by one division, Italy’s second largest financial institution stated on Monday.

UniCredit stated the goal was to offer smaller companies entry to services and products developed by its company options division, reminiscent of advisory or capital markets entry.

The brand new streamlined construction shall be led by Massimiliano Mastalia, who joined the group in November after earlier roles at BNL, the Italian arm of BNP Paribas (OTC:), and as co-founder of instant-lending fintech Prestatech.

Underneath the earlier set-up, UniCredit’s Italian company division served firms with revenues of at the least 5 million euros ($5.7 million).

Smaller companies belonged, like people, to the financial institution’s retail division, whereas very giant corporations fell underneath the funding banking arm.

Italian firms are sometimes very small. Some 98% of corporations have fewer than 10 employees.

Reporting to Mastalia, Francesco Iannella will lead the small enterprise phase for firms with a turnover of as much as 50 million euros.

Lucio Izzi shall be accountable for firms with as much as 1 billion euros in revenues as head of company, and Monica Campilongo of enormous company Italy.

“One of many priorities of the brand new company perform led by Massimiliano Mastalia is to help innovation and the sustainable transformation of firms’ enterprise fashions,” Unicredit (MI:) stated.($1 = 0.8821 euros)