Debitos accelerates activities in Italy
- Francesco Paolo Bellopede joins Frankfurt credit marketplace
- Italian non-performing loans worth 500 million euros for sale
Credit expert Francesco Paolo Bellopede is now Country Manager Italy of the Frankfurt credit marketplace Debitos. The former investment banker previously worked for Unicredit, Stern Agee UK and the US broker Kildare. “For Debitos GmbH, the recruitment of Francesco is a win in many ways: He is an absolute expert when it comes to the realisation and the sale of loans and is very well connected in the industry. In addition, Francesco is at home in both London and Italy and will bring us a significant step forward with his vast experience,” said Timur Peters, founder and CEO of Debitos GmbH.
Italy’s banks have massively driven the sale of non-performing loans (NPLs) in recent years. But still about ten percent of the loans are considered illiquid. Debitos has been active in Italy since 2017. Last year, an unsecured Italian NPL portfolio with a nominal value of more than € 2 billion was auctioned via the online credit marketplace. The company is currently preparing seven more transactions from Italy with a total volume of more than 500 million euros for sale. “The Debitos marketplace is being taken very seriously in Italy as an alternative selling tool for credits – and this opportunity should now be exploited,” explains Francesco Paolo Bellopede. “We want to further intensify our contact with loan servicers, banks and other local institutions and also gain new partners,” he adds.
Francesco Paolo Bellopede has more than 15 years of experience in investment banking. He started his career at Unicredit Corporate Banking 2004 and later worked for a corporate finance boutique focusing on the Italian SME market. In 2007 he moved to London, where he initially worked for the RAIT Financial Trust. In 2012, Bellopede managed successfully the opening and development into the European market of the US broker-dealer Kildare, which is active in the trading of US and European structured finance and illiquid loans and bonds. After a brief intermezzo at Stern Agee UK, he joined Flexagon Capital Solutions in 2015, a finance company with specific focus on illiquid and distressed opportunities. From now on, the 40-year-old is part of the Debitos team in Frankfurt am Main. Francesco Paolo Bellopede is an Italian and English citizen.
Debitos is an online marketplace which enables companies, banks and funds to sell their credit exposures on the market through its open and transparent auction-based online transaction platform. The platform leverages on the digitalization of the entire sale process and can reduce the expected disposal timing to 3-8 weeks compared to 3-6 months of the traditional process. Debitos was founded in Frankfurt in 2010 and has since concluded more than 275 online transactions with a total gross book value in excess of €4bn. By now more than 650 investors from all over the world have registered with Debitos.
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