Portugal 
Spain 
Greece 
Intrum looking for NPL
06 November, L’Economia
There is a mountain of NPLs in the Italian branch of Lindorff/Intrum. The group, born from the merger signed on 27th June 2017 and that it will change the name into Intrum in February 2018 (with much relief of the shareholders), is guided by Antonella Pagano, who joined Lindorff last years after having worked for 17 years for Pwc, where she had also been responsible for NPLs. Besides Pagano, there is also Francesca Carafa leading the company, responsible for structure integrations, who was the founder of Gextra, a company specialised in small-sized credits collection, recently acquired by Lindorff. At their side, there is Maria Grazia Pacifico, the former Cofactor Ceo (Mediobanca group), who will take care of compliance. Fausto Travisi, who was the director for the NPL division in Intrum Justitia Italia, is the sales director, while Alberto Marone, coming from the London branch of Ubs Investment Bank, is the investments director and Roberto Guidi is the operations director.
Lindorff/Intrum Justitia is one of the leading global companies in the credit service sector. It gathers the businesses of the Norwegian Lindorff, the company established in 1898 by Eynar Lindorff, and the Swedish Intrum Justitia born in 1923 and listed on the Stockholm Stock Exchange. The merger between the two companies generated an issue concerning fair competition that brought the company to sell last week some of its assets on the markets in Denmark, Estonia, Finland, Sweden, and Norway to Lowell in exchange of 730 million euro.
In Italy, explains Antonella Pagano, Intrum currently has “a gross portfolio of about two billion euro. But we’re ready to grow in the consumer credits as well as the mortgage credits and the SMEs sectors. We’re an industrial operator with a long-term approach to the purchase and management of credits on behalf of third parties. The group currently has a significant investment capacity. We’ve recently refinanced the debt with the issuance of 3-billion-euro bond along with the proceeds from the sale in five countries. This permits us to be active in the operations concerning 68-billion-euro net of bad loans still burdening banks. Another very interesting sector is that of UTP, the unlikely to pay, currently amounting to 80 billion net. Spain is the first market of the group at the moment, but Italy shows a very interesting potential, especially with the current cultural change happing among banks that started a deleverage process”.
Real estate and the asset manager
Polis sgr aims at commercial and retail properties. The company, in fact, is operating with the alternative investment fund called Italy Retail Fund. The operation concerned the transfer to the fund of a property portfolio owned by Fondo Martin, managed by Savills Investment Manager sgr. The portfolio is composed of six properties for rental for commercial use located in Northern Italy. The fund is 100% controlled by a real estate investment company called Patrimmo Commerce Scpi, managed by the French group Primonial Reim. Polis, headed by Roberto Ruozi, is led by Paolo Berlanda, son of Enzo Berlanda, who from 1992 to 1997 was the president of Conso. Berlanda is the CEO and general director.
The profit of Assimoco
The cooperative insurance company has published the results for the first part of the year. The total collected amounted at the date of 30th June 2017 was 350 million (on 30th June 2016 it was 403 million). The financial activities managed have been 3.62 billion (they were 3.15 billion in the same period of last year). The profits for the damages division is equal to 14.13 million (growing compared to the 12.32 million of the first semester of 2016). The life division has registered a significant growth with 6.10 million (1.59 million in June 2016). “We’re happy with the results and we’re hopeful for the next months’ trend,” said the general director Ruggero Frecchiami.
Safer Soft Strategy
Cybersecurity and data protection will be one of the fastest growing sectors worldwide in the future. To the point of massively requiring new professional roles able to grant to companies the maximum protection against cyber-attacks. For this purpose, Soft Strategy, the Rome-based group with offices in Milan, Bologna, Genoa, Florence, Matera, and Rio de Janeiro and with a turnover expected by the end of 2017 of 18 million euro – has launched the second edition of its IT security training. “We strongly believe in this project. Helping young people to enter the job market with concrete opportunities is the greatest satisfaction – explains Antonio Marchese, Soft Strategy executive partner – with the last edition, we’ve added 8 new hires to our team, we’re counting to do the same with this edition”. Whoever is interested, must be below 30 years of age, can go on www.softstrategy.it and apply to the ad Academy ICT Security.
Source: L’Economia
Translator: Cristina Ambrosi