Munich  - A major management shake-up at UniCredit's HVB unit is expected when the German subsidiary's supervisory board meets Wednesday with UniCredit's chiefs in Milan, Italy, banking sources said.

The changes would include the departure at the end of this year of chief executive Wolfgang Sprissler, to be replaced by Theodor Weimer, who was earlier recruited to HVB from Goldman Sachs, the sources said Tuesday, backing a report in the same day's Handelsblatt newspaper.

They said the HVB executive board would be cut from 10 to six seats as well, as the Italian group brings the German unit under more direct control.

UniCredit and HVB declined to comment.

Sprissler, 62, has a contract until March 2009.