Altamira doValue sets up a specialist business unit to boost investor portfolio management
- It currently manages portfolios for the value of EUR 3.1 billion for the largest investors in the Spanish market and aims to increase this volume to EUR 4.5 billion over the next 2 years through specialisation.
- Conrado Caviró joins the Altamira doValue Executive Committee and heads up the new business unit, with a specialist team of over 150 professionals, honing in on this business segment with a high growth potential. Specialist team with over 8 years’ experience managing portfolios for investors.
- Altamira doValue anticipates a sharp increase in the sale of asset portfolios by banks, which we believe could grow to around EUR 20 billion by 2023, including the sale of portfolios on the secondary market.
- Within its transformation process, Altamira doValue is rolling out a new customer-centric organisation through two major business units -Banks and Investors-, with a clear focus on the organic growth of portfolio management.
Altamira doValue announced today the start-up of a business unit specialising in the management of portfolios bought by investment funds and their growing interest in investing in the Spanish market. This new Investor area is headed by Conrado Caviró and currently has over 150 professionals, with specialised technology, an integral vision of assets and bespoke solutions for investors. The focus on creating a unit specialising in management for investors is aligned with Altamira doValue’s strategic plan and the Group’s business activities in southern Europe. At present, Altamira doValue manages EUR 3.1 billion in assets, after obtaining new management contracts this year, and it foresees doubling the number of clients and increasing the assets under management to over EUR 4.5 billion by 2024.
The start-up of this new business area is part of the transformation that Altamira doValue has been developing over the past year and a half, since the incorporation of Francesc Noguera as the new CEO, to adjust to the new competitive environment in the servicers industry and the increasingly more specialised demand for bespoke solutions for the different types of clients.
“We are creating the first new generation servicer on the Spanish market, with a clear focus on our clients through specialisation and a differential value proposal tailored to the needs of each segment. By building up the Investor business unit, we are sending a very clear message to the market: we aim to become the best servicer in the management of funds’ portfolios”, declared Francesc Noguera.
Within our Strategic Plan 2022-2024, based on the three pillars Transformation, Growth and Diversification, the company has been making far-reaching changes over the past few months. The start-up of this Investor business unit is part of the new customer-centric business model.
The new Investor unit has very ambitious goals: it aims to increase portfolio management from the current level of EUR 3.1 billion to over EUR 4.5 billion by 2024, through organic growth. At the same time, its business plan contemplates doubling its client portfolio in this segment by 2024.
A growing interest by funds in the Spanish market
Altamira doValue has decided to focus on the Investor segment in response to the expected evolution of the market, as it believes that investment funds are already becoming increasingly prominent in the purchase of asset portfolios.
There are two indicators that strengthen funds’ appetite for returning to the Spanish market, according to Altamira doValue data and forecasts:
- More active banks: since 2021, the number of financial institutions actively participating in the sale of portfolios has increased from 3 to 8, and they are expected to put different types of portfolios on the market, including NPLs (Non Performing Loans, unsecured and secured), RPL (Reperforming Loans), REOs and others.
- Growth of the sale of portfolios: Between 2021 and 2022, the sale of asset portfolios by financial institutions to funds has more than doubled, from around EUR 4 billion to approx. EURO 10 billion. This trend is likely to intensify in 2023, when sales on the primary and secondary markets are expected to double, from EUR 10 billion in 2022 to around EUR 20 billion in 2023.
A highly specialised service
Accordingly, Altamira doValue has decided to offer a very specific service for investment funds through a new Investor business unit specialising in the management of all kinds of portfolios.
“The new business unit offers a service tailored to the needs of each investment fund by bringing under one roof all the resources that manage investors’ portfolios”, Conrado Caviró explained.
“The unit has been set up to provide a specialised service, putting our clients and their interests at the centre of the service, with dedicated teams able to undertake ad hoc management tailored to each type of portfolio and the needs of each client. This is supplemented with the integration of a Business Intelligence team and the use of Artificial Intelligence (AI) tools”, he pointed out.
“The ultimate goal is to achieve maximum efficiency of the value proposal by concentrating in a single unit all the resources involved in the life cycle of assets by standardising processes, which enables Altamira doValue to offer more effective solutions in the management of resources for the benefit of the funds”, he added.
Conrado Caviró, proven experience in the market
Conrado Caviró, Chief Investors Officer
The manager of the Investor business area, Conrado Caviró, joined Altamira doValue in March 2022 to start up this new Investor unit, and he is also on the company’s Executive Committee.
In the Investors unit, he heads up a multidisciplinary team of around 150 professionals, with the intention of bringing in more managers as the volume of business and number of clients grows, to ensure being able to offer a specialised, bespoke service.
Conrado Caviró has a comprehensive knowledge and extensive experience of the business of portfolio management for investment funds.
From July 2016 until he joined Altamira doValue, he was part of the Hipogés team, as assistant manager specialising in the management of portfolios with large international investments in all kinds of debt, from acquisition (PL/RPL/NPL) to conversion into REO and sale, aiming to maximise portfolio value through a correct definition of asset management and divestment strategies.
Prior to that he was a partner in the law firm Interpares and worked for other firms specialising in corporate law and for BBVA as an external lawyer.
The manager of the Investor unit has extensive experience in team management and in the creation and optimising of processes seeking to enhance companies’ efficiency and productivity, with a profile focusing on clients and achieving objectives.
Conrado Caviró graduated in law from Universidad Complutense (Madrid) and has an MBA from ISDE Law Business School (Madrid).