Allianz Trade became the sole shareholder of Cosec, after completing the purchase of Banco BPII's stake, an operation that received approval from regulators.

With the change in the shareholder structure, Allianz Trade decided to make changes to Cosec's corporate bodies for the mandate that is now beginning. The first change concerns the Executive Committee, which will now consist of four members. Bruno Rodrigues, who has been with the company since 2017, until now holding the position of financial director, joins the Executive Committee as CFO.

Before joining Cosec, Bruno Rodrigues worked for several years in banking, particularly in the United Kingdom, where he held various positions in financial areas.

The remaining three members of the Executive Committee remain in office and are, respectively, Vassili Christidis, CEO, who will also serve as chairman of the Board of Directors, Placido Furnari, administrator responsible for Risks and Claims, and Andre Granado , administrator responsible for Commercial and Marketing.

The Board of Directors will also include, as non-executive directors, Nadine Accaoui, CFO of Allianz Trade Mediterranean, Middle East and Africa (MMEA), who renews her mandate, and Riccardo Noto, COO of Allianz Trade MMEA.

Cosec is a private equity company in Portugal in the credit insurance sector, which offers solutions to support the management and control of credits, as well as collateral insurance guarantees.

Source: Cosec / Allianz Trade / BPI / AIP