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Hi, everybody and welcome to In Good Company.

And today, I'm in a particularly good company because I'm here with Andrea O'Sell, who is also called the Ronaldo O. Banking.

Now, Andrea has really left his mark on the European banking industry.

It's now the helm of UniCredit and just so many exciting things going on in your business and in your life.

So, warm welcome.

Thank you very much. I'm very happy to be here.

What is the biggest challenge that the European banking industry is facing just now? Scale and transformation. I think they combine. Scale because

without scale, you don't have enough innovation, you don't have enough ability to invest in technology

and in all the things that you should invest to then transform.

And transformation because we tended to look at legacy banks on one side, fintech on the other side.

We looked at them, we didn't consider them, but if you take the next five years, five, seven years, they're going to converge.

And therefore, you need to ask yourself, can I offer the same level of client journey,

the same level of client experience with the same level of efficiency and beat them on what they

don't have, which is the clients that we start with, primary clients.

And secondly, the ability to deal with multiple products and complexity.

Do we need stronger banks in Europe to make Europe more competitive?

The parallel I always use is if the industry, which we always talk about, is the engine, financial services, banks and capital markets are the gasoline.

So now Europe has two things. One, it is trying to transform itself because we have never been faced with such a challenge

in terms of the structure of our industry, the leadership of our products.

I mean, if you go, if you travel to Spain today or if you travel to Italy, I would say

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