Georgi Kuzmanov, former Director of Domestic Large Corporate - Regions in Corporate and Investment Banking and Private Banking Division of UniCredit Bulbank, is appointed Executive Director of UniCredit Factoring in Bulgaria.  The former Executive Director Asya Baeva is assuming new responsibilities at group level in Central and Eastern Europe Region.

The changes became effective in the beginning of October.

“I am grateful to Asya Baeva for her significant contribution and the results which she achieved as an Executive Director of UniCredit Factoring in Bulgaria.  Her new international responsibilities in CEE prove once again that the business development in UniCredit goes hand in hand with people development.“, commented Levon Hampartzoumian, Chairman of the Management Board and Chief Executive Officer of UniCredit Bulbank. “I am certain that Georgi's experience will contribute to the leadership position of UniCredit Factoring in Bulgaria and to its development as a company constantly creating value for its clients.  Georgi is an excellent professional and I expect him and his team to continue contributing to the generation of revenues, innovations and good practices,” added Antoaneta Curteanu, member of the Management Board of UniCredit Bulbank and Director of Corporate and Investment Banking and Private Banking Division.

Asya Baeva was an Executive Director and Deputy Chair of the Board of Directors of UniCredit Factoring from 2012.  She began her career as a Corporate Clients Specialist in 1996 and until 2012 she held various expert and manager positions in Corporate and Investment Banking and Private Banking Division, such as Head of Commercial Strategy Department, Deputy Director of Division, Head of Corporate Clients.  She graduated from Varna University of Economics and Executive MBA at Vienna University of Economics and Business, Executive Academy & Carlson School of Management, University of Minnesota. She specialized in bank management at SDA Bocconi.

Georgi Kuzmanov began his career at UniCredit Bulbank in 1998 as a credit inspector in Risk Management Division. In 2003 he was appointed Relationship Manager Domestic Large Corporate Clients in Corporate and Investment Banking and Private Banking Division.   From 2007 he assumed various manager positions in Large Corporate Department and in 2014 he became the Director of Domestic Large Corporate - Regions. He obtained a degree in Finance and Banking from the University of National and World Economy.

---

Further information about UniCredit Factoring: UniCredit Bulbank created a specialized factoring department in 2004. The department practically developed the local factoring market, since factoring did not exist as a service in Bulgaria at that time. The initiative proved successful and in 2006, through a spin-off from the bank, the first Bulgarian factoring company was established.

During the following years the company focused on:

• Investing in the development of professionals in the factoring area
• Creating a sustainable organization model
• Creating factoring products suitable for the Bulgarian market dynamics
• Creating long-term relations with clients and partners based on mutual trust.

In 2015 UniCredit Factoring launched the first electronic platform for factoring services in Bulgaria. The new platform provided an innovative and completely digitalized working environment with lots of benefits for the clients: speed and transparency; secure and effective digital environment; fast and flexible electronic communication among all parties involved in the transaction, etc.

---

Additional media information:

Victoria Blajeva, tel +359 (0) 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Beatris Nikolova, tel +359 (0) 2 9232 528, cfbusjt/ojlpmpwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, tel +359 894 518 193 , flbufsjob/bodifwbAvojdsfejuhspvq/ch