Ferrari head Montezemolo set to become UniCredit vice chairman

MILAN, Oct 10 (Reuters) - Ferrari Chairman Luca Cordero diMontezemolo is set to become the vice chairman of UniCredit, Italy's biggest bank by assets said in a statement onWednesday.

Montezemolo already sits on Unicredit's board as arepresentative of Abu Dhabi investment vehicle Aabar, which isthe bank's single biggest shareholder with a 6.5 percent stake.

UniCredit's vice chairman post was previously held by thehead of Aabar, Khadem Al Qubaisi, who stepped down earlier thismonth.

The bank's governance and nominations committee will proposeMontezemolo's appointment to the board on Oct.18, UniCreditsaid. Mohamed Ali Al Fahim, head of the finance division at AbuDhabi's investment company IPIC, will replace Al Qubaisi as aboard member.

(Reporting By Silvia Aloisi)

((silvia.aloisi@thomsonreuters.com)(+39 02 6612 9723))