UniCredit Urges Commerzbank Revamp as Orcel Steps Up Pursuit

UniCredit SpA Chief Executive Officer Andrea Orcel issued a stinging criticism of Commerzbank AG’s current strategy as he intensifies his acquisition push.

Commerzbank has a “a story of operating underperformance,” UniCredit said in a presentation published Monday. It suffers from “structural weaknesses” that are only “masked by financial tailwinds.”