Weekly Global News Wrap: ECB raises concerns over UniCredit’s high turnover; China warns banks against “one-sided” credit pursuit

And two JP Morgan & Chase top dealmakers are reportedly leaving the bank.

From Reuters:
The European Central Bank has raised concerns with UniCredit about a high turnover of top managers, after a string of changes at Italy's No.2 bank under Chief Executive Andrea Orcel, two people with knowledge of the matter said.

The European Central Bank has raised concerns with Italy’s UniCredit about the high turnover of its top managers, two people with knowledge of the matter said.

Ever since chief executive Andrea Orcel joined the bank, UniCredit had reportedly seen a series of top departures. Orcel had moved to overhaul the bank’s leadership structure, picking new top executives and axing a dual head set-up.

European banking supervisors flagged the issue to UniCredit in recent months as part of the regular feedback to banks in their assessment of risks, said one of the sources, speaking on condition of anonymity because the matter is confidential.

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From Reuters:
China's central bank cautioned on Thursday against a "one-sided" pursuit of credit expansion after data showed a slowdown in bank lending.

Authorities vowed to prioritise the quality of credit over size and move to revitalise existing loans.

New bank lending in China rose less than expected in March from the previous month, whilst broad credit growth hit a record low.

From Reuters:
Two senior JPMorgan Chase dealmakers, Andy Lipsky and Haidee Lee, are leaving the bank, two sources familiar with the matter said on Thursday.

Reuters could not determine where Lipsky was headed.