Coface announces the appointment of Gonzague Noël as Director of Operations, effective February 3. Based in Paris, he reports to CEO Xavier Durand and succeeds Declan Daly, who is pursuing his career outside the credit insurance group.
Previously, Gonzague Noël was Director of Global Business Administration and Strategic Initiatives at HSBC CIB, where he was responsible for optimizing resources and improving efficiency.
Coface's Board of Directors has also co-opted Yves Charbonneau, Senior Vice-President at Arch Insurance Company Ltd (Canada), as a non-independent director on the Board.
He replaces Nicolas Papadopoulo, who is leaving the Board to concentrate on his current professional responsibilities at Arch. The composition of Coface's Board of Directors remains unchanged.
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Coface SA is one of the world's leaders in credit insurance. The group provides solutions to companies designed to protect them against the risk of financial default by their debtors, as part of the management of their accounts receivable, on both their domestic and export markets. Net sales break down by activity as follows:
- credit insurance and related services (81.1%);
- surety insurance (9.9%);
- credit management services (5.1%);
- factoring services (3.9%).
Net sales are distributed geographically as follows: Western Europe (20.6%), Mediterranean and Africa (30%), Northern Europe (19.8%), Central Europe (9.1%), North America (9.1%), Asia/Pacific (7%), and Latin America (4.4%).
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