The building is the headquarters of UniCredit, Italy's largest bank by assets, and is part of a larger development of new residential and business structures in Milan's Porta Nuova district, near Porta Garibaldi railway station, located at Piazza Gae Aulenti.

[3] The building was designed by architect César Pelli and reached its full height on 15 October 2011 when the spire was attached.

The tower ranked eighth in the Emporis 2012, that rewards skyscrapers for excellence in their aesthetic and functional design.

On the evening of 14 November 2015, the spire was illuminated with the colors of the French flag to represent Italy's condolences for the victims of the attack at Stade de France and at the Bataclan theatre in Paris, which had occurred the night before.

On 13 June 2016, the tower was lit up with the colours of the rainbow flag in acknowledgement of the 49 victims of the Orlando nightclub shooting in Florida.