Guernsey. 11 April 2016 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") announces that Andrea Mangoni has been appointed as CEO of doBank, the loan servicing platform with a banking license in which the Company holds a 50% interest.
Mr Mangoni has over 15 years of experience in senior management roles across a diverse range of large Italian companies. He brings unique expertise gained through his roles managing complex organisations with a focus on results-driven reporting structures and sophisticated financial products, skills which doBank believes perfectly position him to lead the bank in its strategy of further expanding its servicing platform and establishing a niche lending business.
Andrea Mangoni began his career at the InterAmerican Development Bank, where he worked on restructuring projects in Brazil and Argentina before moving to Acea, a leading Italian multi-utility firm, as Head of Corporate Finance, coordinating the Company's listing on the Italian stock exchange before assuming the office of CFO in 2001 and then CEO in 2003.
In 2009, Mr Mangoni left Acea for Telecom Italia, where he served as Executive Chairman of Telecom Italia Sparkle as well as CFO of The Telecom Group. In 2012, he became Telecom Italia's General Manager of International Operations while serving as CEO of its Brazilian business, TIM Brazil, listed on both the Sao Paulo and New York Stock Exchange.
From June 2013 to March 2015, Mr Mangoni served as Chairman and CEO of Sorgenia (CIR Group), one of the largest Italian energy companies, leading the company's financial restructuring process.
Until November 2015, Mr Mangoni served as a General Manager of Fincantieri, Italy's largest shipbuilding company listed on the Milan Stock Exchange.
About Eurocastle
Eurocastle Investment Limited is a publicly traded closed-ended investment company that focuses on investing in performing and non-performing loans and other real estate related assets primarily in Italy. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol "ECT". Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.
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Source: Eurocastle Investment Limited via Globenewswire
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