GIACOMO GIGANTIELLO

GIACOMO GIGANTIELLO

GIACOMO GIGANTIELLO

Chief Executive Officer di Axa Assicurazioni S.p.A.

Profile and Expertise     

•    Industry expertise: 24+ years of banking, financial services, Insurance experience (Consumer/Corporate/regulated entities)
•    High caliber general management qualifications, commercial & strategic mindset, outstanding financial & operational talents
•    Result oriented, decisive leader with proven success record in business/digital transformation, turnaround and restructuring
•    Diverse background underscores expertise to engage decision makers at all levels devising winning business strategies
•    Influencing skills, transparent communication and a rigorous analytical approach to break up problems
•    Inclusive with Global Mindset, multi-cultural understanding having worked in America, Europe & Asia

General Management / Business / Operations     

AXA GROUP ITALY CEO - (from June 2021)
CEO of AXA Assicurazioni, Axa MPS Assicurazioni Vita and AXA MPS Assicurazioni Danni


04/20 – 06/21    Chief Strategy & Development Officer, CSDO – AXA European Markets, Paris
                          Industry: Insurance
                          Environment: Growth and Transformation
                          Key Responsibilities: Strategic oversight and AXA Shareholder representation for 
                          Switzerland, Spain, UK/Ireland. Support and Challenge operating  entities
                          to achieve target goals and implement Group strategic priorities,
                          Coordinate/Connect Group HQ with Operating companies. Reporting to AXA
                          European Markets CEO.

03/17 – 03/20    Chief Trasformation Officer, COO – AXA Italy, Milan
                           Industry: Insurance
                           Environment: Growth and Transformation
                           Key Responsibilities: Business transformation, Customer Operations,
                           Technology, Efficiency, Big Data, Governance of Strategic Project Execution,  
                           Procurement. Reporting to AXA Italy CEO. Member of Executive Committee. Up
                           to 350 Headcounts.                           
                           Key Accomplishments: Accelerated AXA transformation into a more customer 
                           centric, efficient & focused model.
                           -    Simplified structure: legal entities reduction (from 10 to 6), leaner 
                                organization (from 7 to 5 layers), rationalized footprint (e.g., from 20 to 9
                                claims centers), closed subscale businesses (e.g., small bank partnerships);
                           -    Accelerated on next-gen operating model thru heavy adoption of 
                                Automation/AI (20 processes, 50 FTE saved);
                           -    Strengthened tech and data capabilities (90 talents hired on Data, Business 
                                architecture & user experience);
                           -    Built stronger Data Foundations with operational C-MDM and Cloud-based 
                                data platform;
                           -    Increased efficiency: P&C ER down to 29.8% in ’19 (-1.8 pts vs ’16), L&S E/I 
                                ratio to 19.7% in ’19 (-2.7 pts);
                           -    Reduced operating costs: 62 M€ recurring savings (-9% vs ‘16), partially 
                                offset by higher investments (+15%).
                                Reduced HC by 4% whilst growing revenues by 5%; drove 18% price deflation 
                                on Procurement                                 
                           -    Simplified Agents’ operations: New Assistance Model to 1000+ tied agents, 
                                New CRM-based Front-end
                           -    Modernized & simplified IT: 50% servers to cloud, 52 systems
                                decommissioned, consolidated P&C systems,
                           -    Set Agility Layers with 101 APIs, 2 MVP/releases every week, faster time to 
                                market
                           -    Agile Methodology: boundarylessness approach with IT and business, 25% 
                                agile index 
                           -    Engaged all AXA employees into Transformation journey: eNPS from -3 (’17) 
                                to 65 (’19), 300+ peoples leading transformation projects, MC’s breakfasts, 
                                Monthly TED talks, 100+ Selfie Stories.

07/11 – 03/17    Chief Operating Officer - GE Capital IB, Milan (GE Exec.)
                         Industry: Merchant Banking, Factoring, Equipment Leasing, Consumer Auto, PPI, 
                                        Fleet Management.
                         Environment: GEC Italy business turnaround: $10B Assets, 800+ employees
                         Key Responsibilities: Business transformation & restructuring, Operations, 
                         Technology, Strategy execution, Organization efficiency. Member of Investment, 
                         Credit & Top Management committees. Reporting to GE Capital Italy CEO. 
                         Executive Board.
                         Member of GEC Servizi Finanziari Spa (Leasing), GE Capital Finance (Factoring). 
                         Oversight of business performance & execution of all entities. Up to 250
                         Headcounts.
                         Key Accomplishments: Delivered on more focused, leaner & effective
                         business structure.
                         -    Developed & implemented strategic plan for GEC Italy turnaround & margin 
                               enhancement
                         -    Supported volume growth 20% YoY, enhanced ROI to >1% on flow business
                         -    Delivered new operating framework of Banking group; Ensured full 
                              compliance w/ FED & BOI requisites
                         -    Designed & led turnaround in Autolease & Fleet business units (+$30MM 
                              Gross income/3 years)
                         -    Set strong banking group governance fully compliant with higher regulation;
                              Merged 11 legal entities into 4
                         -    Executed on organization downsizing achieving 15% HC reduction & 40% 
                              management delayering
                         -    Built & consolidated in 1 COE all operations & collection activities from 3 
                              different sites; closed multiple offices
                          -   Launched Digital roadmap: Exit IT legacy, Banking sys fully outsourced;
                              Implemented direct Web channel for Operating Lease; Merged 2 leasing
                              sys into 1; Consolidated 5 data centers; implemented e-signatures
                         -    Delivered sourcing savings: $7.3MM indirect cost, $2.1MM direct cost; $5.1MM
                               fleet re-marketing income; Achieved further $25MM Y-o-Y saving per
                              year since 2012 cost base                                 

06/09 – 06/11    Business Integration Director - GE Capital Interbanca, Milan (GE executive band)
                          Industry: Merchant Banking, Factoring, Equipment Leasing, Consumer Auto, PPI, 
                                         Fleet Management.
                          Environment: Interbanca Spa acquisition & integration with 4 GE businesses: 
                                                $12B Assets, 1200+ employees         
                          Key Responsibilities: Integration Director of GE Capital Interbanca Banking
                          Group. Member of management committee. Reporting to GE Capital Italy CEO.
                          Member of the Board of GE Capital Servizi Finanziari Spa (Auto Leasing, CQS). In
                          charge of integration process, business restructuring, organization design
                          & implementation, development of an integrated go-to-market strategy.
                          Oversight of business performance & execution of all entities. 40 Headcounts.
                          Key Accomplishments: Completed full integration of GE Capital Banking group in                                                                 Italy.
                      -    Development of post acquisition Strategic & Integration plan; drove
                            organization to GE management standard
                      -    Designed & re-aligned organization, executed restructuring plan & reduced
                           30% of workforce;
                      -    Coordinated a full product line assessment & closed 4 non-profitable units;
                      -    Set new operating/commercial framework; drove enhancement of front-end
                           team;
                      -    Led legal entities simplification, Technology/back-office & rooftop 
                           rationalization; enforced sourcing discipline;
                      -    Achieved $40MM synergy per year. Finalized governance model of new banking 
                           group.

03/08 – 05/09    Managing Director - Mortgage - GE Capital, Milan (GE executive band)
                           Industry: Consumer finance (Mortgage, Personal Loans, CQS, Auto Leasing, 
                                          Insurance).
                           Environment: Business turnaround & re-launch: Mortgage $0.8B Assets (out of
                                                  total $1.8B).
                           Key Responsibilities: Appointed Managing Director Mortgage however 
                           in succession plan to CEO role for GE Money Italy in 18-24 month. Responsible to
                           assess, lead & grow GE Money foothold in the Italian mortgage market. In charge
                           of business strategy & commercial development, distribution partnerships &
                           overalloperations. 350+ business clients. 70+ Headcounts.
                           Key Accomplishments: Reshaped customer value proposition & drove strategic
                           assessment of mortgage unit.
                           -    Implemented new distribution model (Packagers, Broker, Partnership); 
                           Established 12 key distribution agreements; Upgraded commercial talent, rolled 
                           out sales force effectiveness program;
                           -    Simplified pricing & product offer, launched new “mix rate” mortgages;
                           -    Re-built underwriting process, developed lean origination with the
                                 introduction of “packager” model;
                           -    Tighten process & procedures w/ Agents/Distribution to enhance customer 
                                 experience (TCF)
                           -    Monthly volume up 60% from $25MM (Feb ’08) to $40MM (Oct ’08);
                           -    Despite improvement of business performance, due to the worldwide
                                financial crisis & GE Capital reduced appetite in highly leveraged assets, I
                                drove & executed decision to run-off unit & related redundancy plan.

02/06 - 02/08    Managing Director/CEO - Consumer Lending - GE Capital UK, London (GE 
                           executive band)

                           Industry: Consumer finance (Mortgage, Secured loans, Sales Finance, PLCC, 
                                          Personal Loan, Insurance).
                           Environment: Business re-launch & profit enhancement: SF £1.0B ($2.0B) Assets
                                                 (out of total £15B), 3k Ees
                           Key Responsibilities: FSA Director leading Sales Finance, Personal Loan,
                           PPI division. In charge of the overall business division. Member of management
                           committee overseeing all consumer finance businesses in UK. Reporting to UK
                           Country CEO. 500+ clients. 350K+ customers. 180+ Headcounts.
                           Key Accomplishments: Led overall strategic business assessment & turnaround.
                           -    Strengthen commercial team (+15 sales reps, 2 new sales directors); roll out
                                commercial excellence & new training program; Re-organized
                                commercial team to reach better territory coverage;
                           -    Expanded into 4 new segments of Home Improvement market & 2 new
                                segments of Holidays loans;
                           -    Signed up 200+ new clients (delivering £100MM+ new vol./year); Grew a new
                                 channel “builder association”;
                           -    Re-priced low-return distribution agreements (reduced £15MM introduction
                                fees/year);
                           -    Increased penetration of PPI (from 26% up to 48%) & Life Insurance (from 4%
                                to 17%)
                           -    Launched new customer retention program (attrition rate after 24 months
                                down from 55 to 35%);
                           -    Enforced “Responsible Lending” FSA guidelines with full involvement of 
                                 partners’ organizations;
                           -    Enhanced portfolio losses: closed non-performings, tightened underwriting,
                                re-vamped collection strategy
                           -    Re-organized business operations: outsourced non-core back-office activities
                                 & streamlined front-end operations (conversion rate from 45% to >60%);
                                 Execute redundancy plan (HC down from 180 to 115); Opex/CV ratio from
                                 36% (2005) to 25% (2008); Restructuring started in ’06 drove NI up to
                                 £25MM; revenue +28% (2007)

10/04 - 02/06    Head of Pricing & Business Development - GE Capital UK, London
                          Industry: Consumer finance (Mortgage, Secured loans, Sales Finance/SF, Personal 
                                         Loan, Insurance).
                          Environment: Business growth, Acquisition Integration: £12B Assets (igroup 
                                                £7.0B, FNB £5.0B), 3K+ employees
                          Key Responsibilities: Appointed to lead 2 teams resulting from the merge of
                          2 acquisitions of GE Money in UK (iGroup + First National Bank) in ’04.
                          Responsible to design, set & implement pricing strategy, development of new
                          products, structuring & negotiating commercial agreements with existing &
                          new distribution partners (Packagers, Brokers, IFA, Financial networks, dealers,
                          etc.). Reporting to UK Country CEO. 26 Headcounts.
                          Key Accomplishments: Drove marketing & pricing strategy to deliver commercial
                          growth.
                          -    Revitalized NPI program & proactive approach to pricing (new rate cards
                               every 3 months);
                          -    Developed customized product offer by channel & distribution agreement;
                          -    Structured financial deals & led negotiations with partners both in secured, 
                               unsecured lending & insurance
                          -    Volume up 25% from £4.0B to 5.0B, fee revenues up 35% from £145MM in ‘04 
                               to £195MM in ‘06.

Finance / Due Diligence / Change Management     

11/03 - 10/04    Finance Manager & Pricing Leader - First National Bank (FNB), GE Capital, 
                         London UK

                         Industry: Consumer finance (Mortgage, Secured loans, Sales Finance, PLCC, 
                                        Personal Loan, Insurance).
                         Environment: Acquisition Integration: £5B Assets
                         Key Responsibilities: Financial Planning & Analysis (Volume, Revenues, CV), Pricing
                         for all products; enhance revenue & fees. 8 Headcount. 
                         Reporting to CFO.
                         Key Accomplishments: Designed pricing strategy and implemented program
                         across all consumer products. Led initiatives on fees, financial deal structuring &
                         pricing optimization. Drove >£10MM/yr EBIT increase.

07/00 - 11/03    Audit Manager - GE Capital, GE Corporate Audit Staff, Fairfield, CT, USA
                          Industry: GE Industrial, Consumer Finance, PLCC, Fleet management, Real Estate, 
                                         Reinsurance.
                          Environment: Corporate Audit Staff is the top senior GE finance executive 
                                                development program. Progressed to Audit Manager, specializing 
                                                in financial audits, due diligence, M&A, restructuring. Lead global 
                                                teams of 20+ high potentials across multiple continents.
                          Main Assignments: Financial Audits on Insurance Tech Reserves: P&C Insurance 
                          (US) & ERC Frankona (EU); Audit, M&A & restructuring on
                          Real Estate Asset Management (EU), Consumer Banking 
                          (EU/US), Fleet Mgmt (AUS); Compliance in (EU/US)
                          Key Responsibilities: In charge of project scope, execution, closure & team
                          development. CFOs point of contact. Six Sigma Black Belt certified.

09/98 - 07/00    Financial Analyst - GE Oil & Gas, Florence, Italy. Financial Management 
                           Program (FMP)

                           Responsibilities: 2 years financial program for top talent new hires with
                                                     assignments in Finance.
                                                     4 assignments as senior financial analyst in commercial finance
                                                     & business development in Italy & USA.

04/96 - 08/98    Financial Analyst - CIRSA, Real Estate Holding, Barcelona, Spain
                           Responsibilities: Started off as internship within CFO office. Moved to Italy to
                                                      set operating mechanisms in the new entities. Transitioned
                                                      controller role supervising accounting & reporting in
                                                      12 branches.

Education     

1995 - 1996    Alumni of CEMS Master, Common European Management Schools. ESADE, 
                      Barcelona, Spain.

1990 - 1995    Laurea in Economia e Commercio, Degree in Economics (110/110). Bocconi, Milan, 
                      Italy.

Languages: Italian (mother tongue), English (fluent), Spanish (fluent)

Other director’s mandates inside the AXA Group 

Non executive director in the following AXA Group Company:
-    AXA UK plc (Inghilterra);
-    AXA Seguros S.A. de C.V. (Messico);
-    AXA Aurora Vida S.A. de Seguros y Reaseguros (Spagna);
-    AXA Pensiones S.A. Entitad Gestora de Fondos de Pensiones, Sociedad Unipersonal (Spagna);
-    AXA Seguros Generales S.A. de Seguros y Reaseguros (Spagna);
-    AXA Leben AG (Svizzera);
-    AXA Versicherungen AG (Svizzera)