Zenith Service S.p.A. is pleased to announce the entry of Diego Bortot as head of the new Portfolio & Asset Management division, dedicated to monitoring the performance of non-performing loans, securitized and managed as Master Servicer by Zenith Service.
With more than 30 billion loans under management as at 31 December 2019 on all asset classes and a significant slice of non-performing loans (60%), consisting of personal and consumer loans, electricity bills and mortgages granted to households and businesses, this type of asset class requires a surplus of expertise by specialized and independent players, able to monitor the correct and timely management of loans by the special servicers in charge of their recovery. Control of the business plan, compliance with the timing of processing the files, monitoring of the expected yield indices by investors are some of the tasks that the Portfolio & Asset Management area is called upon to address.
“In a highly uncertain context due to the current crisis, Zenith decided to anticipate the needs of banks and investors, creating a work team entirely dedicated to the management and strategic monitoring of non-performing loans” commented Umberto Rasori, CEO of Zenith Service. “We expect that an important part of the business plans for non-performing loans will not be respected and that many SMEs will make use of the suspension of their mortgage instalments pursuant to the “Cura Italia” decree law, with important operational and management repercussions to deal with. Thanks to the timely creation of the new Portfolio & Asset Management division, Zenith is alongside the many investors who have invested heavily in NPL in Italy, providing highly specialised expertise”.
Diego Bortot, head of the Portfolio & Asset Management division, has 20 years of experience in corporate finance and the NPL sector and is an economist and expert in real estate finance. Prior to joining Zenith, Diego was Managing Director of the Debt Advisory division at Duff & Phelps REAG in Milan, Managing Director of Unicredit Credit Management Immobiliare S.p.A and General Manager of ISC Spa (now IES, the real estate company of Fondazione Cariverona).
Diego in Zenith will be in charge of strategic management and performance monitoring of NPL portfolios. He will also develop new services related to due diligence activities on loan portfolios and real estate valuations as well as RE asset management activities.