Board of Statutory Auditors
The Board of Statutory Auditors oversees the compliance with the law and the Articles of Association, in respect of the proper administration principles, the adequacy and correct functioning of the organisational, administrative and accounting structures.
Has been standing auditor of SACE since December 2019. Gandolfi graduated with Honours in Economics and Commerce at the Università di Parma (University of Parma) and obtained his PhD in “Business Economics” (graduating in 1996) at the Università Commerciale “L. Bocconi” di Milano (Bocconi University) and the Università di Pavia (University of Pavia). At the Università di Parma, he held the position of University Researcher and Associate Professor. He is currently Professor of Banking and Finance and is Senior Lecturer at the SDA Bocconi School of Management, where, over the years, he has organised numerous workshops and held training courses for some of the biggest representatives of the Italian and international banking and insurance sectors. At SDA Bocconi, he has received numerous awards: the prize for the best teacher of executive courses; the “Entrepreneurship Award”; the “Award for Excellence in Coordination”; the “Internationalization and Innovation” Award; and the Award for “Innovation in Technology-Based Learning”.
Gandolfi is enrolled in the official register of Expert Witnesses with the Court of Milan; he has held the role of Expert Witness in several important cases for the Courts of Bologna, Milan, Lodi, and Parma. He has been auditor and director on the board of important banking institutions. Since October 2017, he has been Chairperson of Fondazione Cariparma. Since November 2017, he has been a member of the Board of Acri, where he also holds the position of Chairperson of the “Asset Management” Committee. He has conducted research into and written papers on issues relating to asset management, risk management, pensions and insurance; he has several publications to his name.
Acting Representative of the Court of Auditors
Chief Executive Officer
He was the Group Chief Risk Officer of Cassa Depositi e Prestiti from June 2016 to December 2019, responsible for Risk Management, Risk Operations, Risk Governance and Compliance & Anti-Money Laundering areas.
He is currently a member of the Investor Committee of the Italian Recovery Fund and of the Board of Directors of AIFIRM and the Technical Expert Group on Sustainable Finance (TEG) for Sustainable Finance for the European Commission. He has also been member of the Board of Directors of Ansaldo Energia. From 2008 to 2016, he was at BNP Paribas Group, where he served as Chief Risk Officer of BNL and BNP Paribas Group for Italy.
He was a member of the BNL Management Committee and Executive Risk Committee of the Group, in addition to holding Director positions at BNPP Leasing Solution, Ifitalia International Factors, Business Partner Italia, CRIF and Associazione Italiana Financial Industry Risk Managers.
Before joining the BNPP Group, he held managerial roles in leading banking groups.
Resources, Organisation, Systems
In SACE since 2004, currently he is responsible for the ROS area, consisting of the department for Human Resources, Organisation, Information Systems and General Services. He gained a decade of experience in an ICT consulting firm, coordinating various initiatives mainly for the Fiat Group, Imi, Citibank and Alitalia. Subsequently, he held the role of Director of Applications Development at Euler Hermes SIAC. He was President of SACE BT from May 2016 to December 2019.
Marketing & Innovation
In SACE since 2017, he is currently responsible for the Marketing & Business Innovation Area, comprising the Divisions of Commercial Planning & Commercial Initiatives, Product Development, CRM and Education to Export. Previously he worked for 14 years in the UniCredit Group, holding positions of increasing responsibility - in Italy and abroad. These include the leadership of Network Development & Optmization activities for the Central Eastern Europe Division, the responsibility of the Private Segment in Unicredit Bank Russia and Head of Products, Marketing and Multichannel of Bank Austria.
Michele De Capitani
Planning, Administration and Finance
Since March 2017 Michele De Capitani has been Chief Financial Officer of SACE. Previously he held roles of increasing responsibility in General Electric - in Italy and abroad -, he led the planning and control activities of FinecoGroup e Capitalia, and took on various roles in UniCredit Group, where he was responsible for planning and control in Germany, CEO of UniCredit Bank Ireland and, finally, Chief Financial Officer of UniCredit Bank Russia.
Large Corporate Underwriting & Portfolio Management
In SACE since 2018, he holds the position of Chief Underwriting and Business Innovation Officer. Previously, he worked for eleven years at General Electric, where he held managerial positions in project financing, corporate strategy & business development, corporate finance and investment banking, until becoming Global Head of Government and Export Finance, managing General Electric’s dealings with export credit companies and international financial institutions. Previously, he worked at the Council of Europe Development Bank and at the European Commission. He performed much of his professional career abroad, including France, Switzerland, Russia, the United Kingdom and the United States.
Mid Corporate & PMI
Simonetta Acri has been in SACE since 2003, where she has held various key positions, contributing to the development of new operational areas and giving a significant boost to the commercial network. Previously she worked at Regional Head Structured Trade & Export Finance for the Corporates & Investment Bank Division of Deutsche Bank, in charge of the Italian market and South Eastern Europe, and was head of the Trade Finance unit at Morgan Grenfell. She now holds the role of Chief Mid Market.
Letterio Merlino has been with SACE since July 2017 with the title of Chief Risk Officer. Before joining the risk office of CDP in 2016, he held various responsible positions in some leading banking groups, with particular focus on risk management. He began his career at Banco di Sicilia and later moved to SanPaolo IMI and the UniCredit Group. He also worked at Accenture as a strategic consultant in the financial and banking field.
Legal and Corporate Affairs
In SACE since 2009, Rodolfo Mancini currently holds the roles of Chief Legal Officer of SACE and Chairman of SACE Fct. Previously, for fourteen years he was part of the management team of Mediocredito Centrale (Unicredit Group) as Head of the Legal Service, Compliance and Corporate Affairs. At the start of his career he worked in Italian and foreign legal offices, gaining significant experience in structured finance and in capital markets.
In SACE since 2003, she is currently Head of the Institutional Relations Division, after a long experience in the origination and structuring of export credit and internationalization transactions. In SACE, she held various responsibility roles in the business and commercial area. Previously she worked in the export finance sector of HVB, Royal Bank of Scotland and Mediocredito Centrale. Since 2019 she has been a member of the General Council of Assocamerestero.
Research and Studies
Chief Economist of SACE, he has previously worked as an economist at the Confindustria Center of Studies and has collaborated with several Italian universities as part of master's programs by giving lectures on issues regarding international economics, Italian economics and country risk assessment.
He is a lecturer in Analysis of International Markets and Country Risk at the highly regarded School of Economics and International Relations of the Università Cattolica del Sacro Cuore and member of the Executive Council of the Business Economist Group. He graduated in Economics at the LUISS University of Rome, where he also worked as an assistant for Political Economy courses at the Faculty of Political Sciences.
Since January 2018 he has been responsible for Internal Auditing and a member of the SACE Supervisory Body. For twelve years at Cassa Depositi e Prestiti, as Head of Audit Planning and Execution, he coordinated the audits in all the companies of the group. He was also responsible for the Internal Audit of CDP Immobiliare, CDP Investimenti SGR and SIMEST. Previously he had experience in internal control in Banca Intesa and Dexia Crediop and in auditing in the financial sector.
Chief Executive Officer and General Manager of SIMEST
General Manager SACE Fct
In SACE since 2005, Paolo Alfieri currently has the role of General Manager of SACE FCT. He gained experience in General Electric, first in the management and recovery of international receivables in GE Oil & GAS, and subsequently in GE Capital Finance as operations manager of the factoring company. Previously, besides a short period as risk manager of Banque PSA Finance, he collaborated as a consultant with the Capitalia Group in the group’s credit management and recovery company.
General Manager SACE BT
In SACE since 1 April 2017 as Director General of SACE BT, Valerio Perinelli has twenty years’ experience in Euler Hermes, both in Italy and abroad. In the last two years he was Chief Executive Officer of Euler Hermes UK & Ireland, after being based in France for eight years as the head of the Commercial and Marketing division at global level of the World Agency, the Euler Hermes unit for multinational affairs and part of the Executive Committee of the company.
General Manager SACE SRV
Since July 2011 Valerio Ranciaro has been General Manager of SACE SRV. He has long experience in the insurance sector and, before taking on his current role, had managerial roles in SACE in the Compensation and Recovery Service and was deputy manager of the Portfolio Management and Restructuring Division.
Independent auditors PricewaterhouseCoopers S.p.a. | Auditor Alberto Buscaglia