The banker who led a sweeping reorganisation of the fixed income, currencies and commodities business at Societe Generale in the wake of the Jérôme Kerviel fraud scandal has joined his former boss Jean-Pierre Mustier at UniCredit.

UniCredit yesterday announced that Olivier Khayat would be joining as deputy head of the corporate and investment banking division and co-head of the financing and advisory product line with Vittorio Ogliengo.