The title of this year’s event is inspired by the famous passage of the “Our Father”, the most important Christian prayer left to us directly by Jesus Christ. Furthermore, the concept itself of “forgiving debts” seems to permeate our culture very often. At least judging by the objective difficulties for creditors to enforce their rights, either in court, (where they must face huge time and costs), or out of court, (wher they seem to be always under accusation of “bother” the unfortunate debtors).
But even the official iconography, which probably reflects a bit the collective imagination, goes in this way. Just look at some scenes from the latest film on this subject, directed by Antonio Morabito and starring the couple Giallini-Santamaria, with the meaningful title “Forgive us our debts”…
And if, so far, the policy was limited not to facilitate the creditors’ life (except for certain provisions of the Renzi’s government), in the article n°5 of the 5Stelle-Lega government contract, there is a step that sounds rather sinister: “With regard to the forced loans recovery by banks and financial companies, we intend to eliminate any provision that allows to act against debtor citizens without the prior authorization of the competent judicial authority”..
As political-sociological scenario looks like this, reality tells us that the debt collection industry is running at full speed and is making a decisive contribution to regularizing the disastrous post-tsunami 2008-2012 budgets.. If we focus only on the extra judicial debt collection, the latest survey carried out by UNIREC shows that there is an over 35 million turnover for 69 million loans entrusted and, to these, have to be added judicial debt collection practices (regarding these latter, however, there are no accurate data and numbers).
If we take into consideration only extra judicial debt collection, undoubtedly the most relevant one because of its capacity to prevent Npls and to generate cash flow to creditor companies, we can see that the industry is undergoing a very particular moment. Data from latest UNIREC survey show that in 2016 65% of the associated companies closed their balance sheets with a profit lower than 1% and 27% at a loss. Basically, 92% of the analyzed balance sheets report a stagnation or a tiredness of the sector. But the entrusted volumes keep on growing.
How do you explain this?
And what happened in 2017? Is this data confirmed or denied?
Is the liveliness of recovery servicers acquisition by banks and investment funds, a trend destined to grow or decrease?
But then why should an investor, often enormously capitalized and structured, acquire a service that, compared to it, looks like a flea on the dog’s back?
With the war on delocalisation and to job insecurity declared by the 5Stelle-Laga government, together with the article n° 5, is there still a future for the debt collection industry? And if so, which future?
Starting from the presentation of an exclusive survey based on the most updated data of the economic-financial sector, specifically carried out by Cerved Group for this event, and through a series of round tables involving some of the most important market players, the 12th CvDay will try to answer to these and other questions.
Debora Rosciani – Journalist Radio24 (Gruppo Sole24Ore), Chairman CVDay
Born in Ancona on 8/6/1969, university studies in Macerata, Faculty of Political Sciences.
She is a professional journalist since February 2003. She started her career in the Marche region, working until 1997 as an editor and tv presenter in the news channel for the private television TVRS and Radio Cuore.
Until 2001 she has worked first as a television production assistant then as an program writer and tv presenter for Mediolanum Comunicazione. She then moved to 24Ore Tv where she hosted several shows and afterwards joined Radio 24 with a radio show called “Salvadanaio” (“the money box”), the programme “Soldi e dintorni” (“money and beyond”) and stock exchange news. She cohosted “Cuore e Denari” (“heart and money”) with Nicoletta Carbone and now cohosts “Due di Denari” (“two of diamonds) together with Mauro Meazza, that airs daily from 1100 to 1200, featuring the most discussed financial topics at home. She is the author of the book “Donne di denari – Le strategie vincenti per gestire i tuoi soldi” (“Women and money – winning strategies for investing your savings”) published by De Agostini. She is a renown presenter and moderator for awards and events and she holds seminars and masterclasses dealing with financial reporting alongside other professors and financial specialists in the “Banking & Finance” Master of Business School24, the school of Il Sole 24 ore.
Christian Arsenio, C.E.O. Distressed Technologies
Founding Partner of Distressed Technologies, Chris supervises Distressed Technologies’s proprietary investmentsand directs the Quantitive Research team. Christian is also Managing Director of RES Credit Management SpA.
With over 14 years experience in capital markets and investment banking, Christian has covered several roles in Structured Finance as originator, structurer and quant in Non Performing Loans team and CRE and ABN Amro and in a Royal Bank of Scotland in London.
For a couple of years he worked as a researcher, programmer and algorithmic trader of strategies and trading on Brent Oil futures and calendar spread..
Christian holds a Master of Applied Statistics, a Master in Financial Engineering and a Finance Degree.
Fabio Bolognini – Chief Risk Officer Workinvoice
Chief Risk Officer at WORKINVOICE srl
Degree in Corporate Finance at Università Commerciale ‘L.Bocconi’-Milan in 1980. He started in the Finance Department of Pirelli Group in Milan, 1980, in the Export Finance Department. He spent 18 years from 1982 to 1999 at Citibank – Milan. First in Export Finance and World Corporate Group (Large Corporate Accounts), then six years as Head of Treasury and Capital Markets (FX, derivatives, Gov.Bonds and Equity Warrants) and his last assignment was Head of the Private Banking Division.
In 2000 became head of Corporate at Unicredito Italiano S.p.A. and from 2003 deputy General Manager at UNICREDIT BANCA D’IMPRESA S.p.A. (corporate banking) From September 2003 to June 2006 he was Head of SME Marketing at Banca Intesa S.p.A., covering a business segment with approx.150.000 customers.
From September 2006 to 2010 he was corporate banking Subject Matter Expert at ACCENTURE – Strategy Division, Financial Services and re-designed the corporate banking platform offer.
In 2010 launched LINKER srl, an advisory firm mainly focused on financial support to SMEs and financial restructuring to prevent bankruptcy.
In December 2013 co-founded WORKINVOICE srl, the first Italian digital invoice-trading platform where he currently heads the Risk Management Area.
He publishes various articles in Italian online press and in his blog ‘Imprese+Finanza’ ( www.linkerblog.biz ) covering banking, credit and corporate finance topics. In 2015 published a short manual with Franco Angeli (“How to access credit”).
Francesca Carafa, C.E.O. GEXTRA, Gruppo Intrum
Francesca Carafa is Chief Executive Officer of GEXTRA, Gruppo Intrum, since April 2017.
After twenty years experience in the consumer industry, she started a collaborationin the debt collection industry dealing with copany sart-ups.
From 2002 to 2009 she was appointed Chief Executive Officer in Tarida S.p.A. (today known as Cerved), which in few years became the third player of the credit collection market, with a turnover of 30 ml.
In 2010 she started working with Gextra Srl, then sold to Italfondiario in 2011 and since 2017 a subsidiary of Intrum.
She is mother of Cecilia, a former athelte at copetitive level, her ain interests are travels, music and design.
Director – PwC Strategy & Financial Services
Francesco is a Director with 10-year experience in financial and management consulting of Strategy& Financial Services team within PwC and has served financial institutions focusing on strategy, market analysis, M&A and business due diligence.
Francesco has delivered numerous assignments in the lending industry (consumer credit, corporate and SMEs, leasing, factoring) analyzing the market dynamics and trends and the possible growth strategies for the main players and has significant experiences in credit collection market and NPL transactions.
He holds a degree in Business Administration and Finance from Università Commerciale Luigi Bocconi and has a previous experience in the corporate finance team of Mediobanca.
Maurizio Cattaneo, Managing Director & Shareholder Creden
Electronic engineer with many years of experience as Sales Manager, Maurizio Cattaneo is Chief Executive Officer and shareholder of Creden. His debut in the management of large accounts of big multinationals – from Texas Instruments to Dun & Bradstreet – has given him many skills in the management of medium-large companies.
Since 2007 this knowledge is available to Creden. Maurizio Cattaneo also contributes to the growth of the company in the role of supervisor of Business Information Unit.
Giovanni Cecere, Sole Administrator Consulgest Italia
Fifty years, married with two children, he graduated in Business Economics at late age for his own pleasure, after numerous professional experiences in the field, including in SDA Bocconi.
He has been working for thirty years in the credit collection industry where he gained his experience first as an external officer for various consumer credit companies and then as a managing director of debt collection companies. In 1997 he created Consulgest Italia located in Naples.
He is involved in numerous entrepreneurial projects and he is active in the social field, both as a member and as a sole administrator. Thanks to his heterogeneous activities, he acquired variegated skills in assorted fields.
Andrea Clamer – Responsabile Divisione NPL Illimity Bank
He graduated from the Faculty of Economy and Commerce at Pavia University and completed an MBA at the SDA Bocconi School of Management.
He gained significant professional experience in Deloitte Consulting and Toscana Finanza, where he took on the role of Manager of New Markets. He then became Manager of the Non-Performing Loans Area (NPL) in Banca Ifis.
Since January 2018, he has undertook a new project, aimed at the creation of SPAXS Spa (“Spaxs”), the largest Italian spac. The goal is to create an innovative bank which will operate across three synergic segments and which will be integrated in the Italian market of small and medium sized enterprises.
Cesare Colombi, President Assofin
Cesare Colombi, General Manager Prestitalia S.p.A. – UBI Banca Group, serves as President of Assofin since May 2018 and will be in charge till 2021.
Colombi held different key positions since 1990, first in Banca Popolare di Lodi and then in Banca Bipielle Network (ex Agos Sim). He has been General Manager and Legal Representativ of the GE Financial Insurance Start Up until 2001, when he became General Manager of Arca Network Sim. From 2004 he has been working for the UBI Banca Group: he has been General Manager at BPU Sim, at UBI Banca Private Investment and then, since 2015, of Prestitalia, the Group company dedicated to salary-backed loans.
Giorgio Costantino, Executive Director, Crif
Giorgio Costantino – Executive Director CRIF Management Consulting & Solutions EMEA and Global coordination.
Education: Bachelor Degree in economics (“Business & Administration”) – University of Genoa Executive Master on Business strategy and enterprise management – Business School Il sole 24 Ore/Cattolica University Milan.
Professional experiences: After Degree and 6 Month of experience within the Finance Area of an important Italian Retailer, I joined Accenture (before Andersen Consulting) in 2000 within the business Consulting Area and Financial Services market. I spent 14 Years in Accenture Management Consulting where I become Manager in 2006 and Senior Manager in 2010 within the Management Consulting practice, being part of the launch and development of the “Finance & Risk” and “Credit Services” practices and Service lines. During Accenture experience I focused on following areas of specialization: Credit Risk Management (Origination, Monitoring, Collection and Recovery), Basel Validation advisory and support (with exposure with Regulator – ECB), Banking accounting, Credit Process Operational excellence, Organization strategy evolution (Business and IT transformation), Business Plan. Since Jan 2015 I joined CRIF as Director the entire area of Management Consulting, for Italian and International direct Market. As of Jan 2017 I became Executive Director of Management Consulting and Solutions area for EMEA with a delegation to coordinate consulting globally.
Other information. Reference for relationship with Italian Industry Banking Association (ABI), partner of Italian Risk Manager Association.
Gianluca De Candia, General Manager, Assilea
Born in Rome on September 12 th 1970, he has graduated in the faculty of Economy and Commerce of the university La Sapienza in Rome.
Gianluca is general manager of Assilea , the Italian leasing association, and Assilea Servizi.
Chartered Accountant in Rome, he is enrolled in the bulletin-board of the company auditors.
Gianluca has extensive experience in banking and finance. He is renowned for his strong technical skills, and ability to innovate.
In addition to his practice, Gianluca sits on the board of Conciliatore BancarioFinanziario.
Gianluca is President of the “Leasing & Factoring” Committee of Roman ODCEC, the professional accounting association of Certified Public Accountants, Auditors and Advisors. Already president of the “Direct taxes & Special operations” committee and “IAS taxation” committee of Roman ODCEC.
Component of the Council of Founders of the OIC (Italian Accounting Standard Setter).
He has published the books “IAS/IFRS”, Ed. IPSOA, 2011 and “Il leasing azionario, su aziende e su marchi”, Ed. Edibank, 2006.
Gianluca is a regular contributor of national specialized newspapers in Italy and is lecturer at a lot of conventions and seminars organized by a number of different organizations.
Matteo Gatti – Direttore Servizi Business Information, Innolva
Matteo Gatti is Director-Head of Business Information Services at Innolva.
Innolva is a company of the Tecnoinvestimenti Group which operates in the Business Information & Credit Management field and is a strategic partner of banks, companies, professionals and public administration, supporting business decisions with evaluation and monitoring risk, target & market analysis, evaluation and debt collection services. He started his career as Project Manager in Dun and Bradstreet and afterwards worked as advisor at CRIBIS D&B, joining in 2010 Ribes SpA as Head of Product Development and Business Information and becoming in 2014 Business Information Marketing Manager.
Carlo Giordano – Sole Administrator STARCREDIT
Born in 1967, Carlo Giordano, has built his managerial background studying in accredited business schools and taking part in various training courses for his personal and professional growth.
He is a Member and the Sole Director at Starcredit S.r.l., a company founded in 1992 and operating in the credit management services industry.
He gained a significant experience in the debt collection industry, coordinating the creation and management of strategic projects, and taking care of the constant implementation of both internal processes and recovery strategies.
Claudio Iovino – C.E.O., Service Credit
After his studies he started his career in Credito Commerciale (now Cariparma) performing consultancy activities in the development of banking facilities; afterwards he worked for three years at the Milan branch of Banque Nationale de Paris. Since the constitution of Mediofactoring he has been consolidating the development of banking facilities.
He worked with Gruppo Mediobanca for almost 30 years; first as the General Director of Cofactor SpA (first Bad Bank in Italy, constituted in 1988); from 1992 to 2002 as Head of Business in Compass (Head operating officer) where for three years he also held the position of Company Director.
Since 2003 he devoted himself to the “Creditech project” (which is nowadays divided into MBcredit Solution e MBFacta ) first as DG, then AD and last as Executive Vice Chairman.
He managed the relaunch of Generale Gestione Crediti (gruppo Osculati & Partners) where he held the position of CEO.
Since May 2018 he’s the Managing Director of Service Credit SpA (Cosenza, Rome and Milan) where he is involved in a medium-long term developing project.
He has been for six years a Board Member of Unirec, performing analysis of the sector and supervising the annual brief.
Emanuele Leoni, Workout Manager IFIS NPL & General Manager CAPITALFIN, IFIS NPL, CAPITALFIN
Emanuele Leoni, IFIS NPL Spa’s Workout Manager, can boast important, long-term experience in the NPL world. From 2002 to 2010, he held various roles in major banking groups: Portfolio Manager, Team Leader, Area Manager and Advisor in the management and sale of NPL portfolios.
From 2010 to 2014, he carried out two banking roles in cooperative credit institutions, one in the Risk Management field and one as Deputy General Manager.
He joined Banca IFIS Group’s NPL BU in 2014 as Head of the Network, with the task of coordinating the network of agents in their financial activity of managing and recovering assigned portfolios.
He covered this position for two years before taking on the role of Head of Collection, coordinating the out-of-court and judicial networks in order to maximize collections of purchased portfolios.
Since June 2018, he has also been General Manager of Cap.ital.fin, a subsidiary of the Banca IFIS Group, specializing in salary and pension-backed loans, through which he aims to promote such backed-loans as debt payment instruments through IFIS NPL.
Carlo Losco – CEO of Si Collection S.p.A
Born in Milan on 03/02/1968 (50 years old); married with 2 guys, graduate in Information Sciences at the University of Study in Milan.
From 1994 to 1998 : Project Manager at Olivetti Group (O’Group consulting division), becoming responsible of the team of application development for the manufacturing industry, contributing to the growth of the company in consulting services for the industry sector.
From 1998 to 2008 : Chief Information Officer at Auchan Group taking responsibility for the ICT Research and Development Department of the company in the food sector, managing all the innovative projects for the supply chain, sales and procurement department. Here I partecipated actively in the most important change of brand project of Sma stores to Simply stores involving more than 1.000 stores through all Italian territory.
From 2009 till now : starting a new private equity project following the acquisition of Si Collection S.p.A by Palamon Capital Partners and Dea Capital from Carta SI (servizi interbancari) assuming at the beginning the role of General Manager member of the Board and from last december 2017 due to the change of control of the company to Alchemy Special Opportunities Fund I assumed the role of CEO of this prestigious collection company leader in NPL, finance and commercial collection services working for important investors, banks and industrial companies.
Claudio Manetti, C.E.O. Fire
Master’s Degree in Political Sciences (Economy Path) at the University of Torino, he was member of the Evaluation Group for Investments in Public Works of the Fund for Investments and Employment, established by the Ministry of Budget at the Region Piemonte.
He has a long established experience within the Fiat Group, where he started his career in 1986 within the Marketing Division of Sava Leasing. He filled different positions within Fiat Sava and in 1999 he became responsible for Customer Relationship Management, including credit collection activities.
In 2007 he moved to Fiat Group Automobiles Financial Services (now known as FCA Bank) as Marketing & Sales responsible for the new joint venture between Fiat and Credit Agricole.
From 2008 to 2011 he was Credit & Customer Manager at FGA Capital for the Italian Market.
Starting from 2011 he was CEO and General Manager at Leasys S.p.A., FCA Bank’s long rental company.
He’s CEO of Fire since November 2015.
Emanuele Reale, Chief Sales Officer Executive Management Member Team, Hoist Finance
After a degree in “Business Administration” in London in 1989, worked first for Citibank (‘89 -’91), then for the San Paolo Torino Bank ( ’91 – ’94).
He came back in Italy, in 1995, as CEO for TRC Spa (NPL), meanwhile still maintaining his different Board of Directors assignments for Countdown (Loyalty Program) and 3 Erre (Plastic Cards Producer).
He has been working in Hoist Finance since 2014 starting as COO & Head of Sales and Investments for the Italian branch of the Swedish group.
Since June 2018 Emanuele is the Chief Sales Officer (CSO) and a member of the Executive Management Team of Hoist Finance.
Guido Romano, Public & Economic Affairs Manager, Cerved Group
Public & Economic Affairs Manager – Cerved Group S.p.A.
Economist, he is the responsible of the Bureau of External Relations in Cerved Group, for which he supervises the researches based on the extensive and sophisticated information at the disposal of his company. He planned, projected and realised Cerved Group’s periodical Observatories and the other series of studies published by the company. Before, he had been working in Telecom Italia for four years, dealing with economic studies as a support for the top management’s analysis and institutional activities.
Paolo Scilironi, Chief Operating Officer & Member, Finarc
Born in Sondrio 52 years ago, is one of the founding partners of Finarc Srl, a leading company in the Credit Recovery sector since the early 90s.
His managerial experience has over 26 years of presence in the world of extrajudicial debt collection as well as having started as a freelancer in another field well before his entry into the company.
The cases he managed range from consumer credit to credit cards and then specialize mainly in extra-judicial leasing.
Professional growth over the years has allowed him to deepen all aspects and the facets of a very variable activity both in techniques and in regulatory volatility.
In Finarc, thanks to his relational skills and to the acquired cultural background, he holds the role of Coordinator thanks to which he manages to transfer his knowledge to both internal and external collaborators, actively participating in any recovery strategy.
With the increase in requests from financial institutions, it also specializes itself in corporate compliance, contributing to supervision and taking care of supervisory models and methods, thanks to which it has succeeded in making Finarc an excellence and a solid partner for each Mandator.
In addition to debt collection, his passions are family, viticulture and the mountains.
Alessandro Scorsone, C.E.O. AGE CREDIT and Sales and Servicing Director KRUK ITALIA
After graduating in Economics at the University of Siena, Alessandro Scorsone spent all his career in the financial service industry and IT companies, with significant experience in international organizations.
Alessandro is currently CEO of Age Credit S.r.l. (part of the Group KRUK SA from April 2018) and prior to joining the Kruk Group as Director of Strategic Transactions and Client Relations, position in which he’s responsible for the NPL and servicing business development of our company in the Italian market, he worked as Major Account Manager at Ribes S.p.A. and collaborated for many years with Thomson Reuters where he covered various European positions (Italian, Spanish and Swiss markets) focused on Business Development in different branches – Asset Management, Wealth Management, and Enterprise Solutions.
Francesco Vovk, President, UNIREC
President of UNIREC – National Union of Companies for the Protection of Credit.
He has been elected on 23rd May 2018, before he has been for a three-year period a member of the Managing Board, and held the role of Delegate of Education, a role carried out with numerous collaboration with partners in Universities and aimed at implementing e-learning projects.
Born in 1975, he consolidated his career in the debt collection industry performing reorganisational activities for processes and customer care for the company of which to date is member. His company is one of those “pioneers” that believed in the union spirit since the very beginning and committed to the constitution of UNIREC.
Claudio Zamboni, Co-Founder, 3rdPLACE
3rdPLACE is the data-driven tech company founded in 2010 by former senior Google managers, focusing on data governance, data intelligence and data modeling solutions. Claudio worked at Google Italy as Head of the Education, Entertainment and Telco industries, contributing to their vertical growth. He holds previous marketing (Tim.it) and sales (virgilio.it) roles as well as numerous collaborations as a propagator of technology and digital media. He is also Co-Founder at FinScience (finscience.com), the fintech company that with Artificial Intelligence synthesizes the molecule of Alternative Data to enhance Asset Management, Financial Advisory, Investor Relations, Marketing & Sales and ESG actions.
Raffaele Zenti, Co-Founder, Virtual B
Raffaele Zenti is Co-founder of the Fintech firm VirtualB SpA (that launched AdviseOnly.com) – where he leads the Financial Data Science team -, and indipendent board member of Fondaco SGR. An academic background in Statistics and Finance, he was Head of the Quantitative Portfolio Management in Allianz Global Investors Italy, and later in Banca Leonardo.
Lecturer at the University of Novara, Polytechnic University of Milan and LUMSA University, he published various articles in academic journals, including the Artificial Intelligence and Cognitive Science, Journal of Asset Management, Economic Notes.