Tuesday, 13 January 2026
BF.direkt AG, the holding company of the BF Group, has strengthened its Management Board and announced a strategic repositioning aimed at addressing the growing complexity of the debt market and expanding into additional asset classes.
Fabio Carrozza, Maria Angela Ciriello and Eugenio Sangermano have been appointed to the Management Board. All three have been with the BF Group for several years and, in connection with their appointments, have acquired shareholdings in the company. Francesco Fedele will continue in his role as Chief Executive Officer, with responsibility for overall strategy and group-wide governance.
Under the new structure, Fabio Carrozza has been appointed Chief Sales Officer (CSO) and will oversee sales activities across the group. Maria Angela Ciriello will assume the role of Chief Financial Officer (CFO), taking responsibility for finance, while Eugenio Sangermano has been appointed Chief Investment Officer (CIO) and will lead the group’s investment activities.
According to Fedele, the revised management structure is designed to clarify responsibilities and support sustainable growth. In the advisory business, the group plans to at least double its current advisory volume of approximately €1.0 billion per year, with a stronger focus on infrastructure debt and corporate debt. In parallel, the asset management division is targeting an increase in assets under management from around €2.0 billion to more than €5.0 billion in the medium term, covering corporate private debt, infrastructure debt and real estate debt.
Fedele noted that the BF Group intends to maintain its position as a specialist in real estate financing in Germany, while further developing the expertise it has built in infrastructure and corporate debt in recent years. The strategic realignment places greater emphasis on these areas as part of the group’s continued development.
As part of this repositioning, BF.real estate finance has been renamed BF.advisory GmbH. The new name reflects the broader advisory and investment focus of the group beyond traditional real estate financing.
Fabio Carrozza has been with the BF Group since 2020 and has served as Managing Director of BF.advisory GmbH for several years. He brings long-standing experience in advising corporate and real estate clients and structuring complex financing solutions, following more than two decades in the banking sector.
Maria Angela Ciriello joined the BF Group in 2021 after 14 years at LBBW Asset Management Investmentgesellschaft in Stuttgart, where she worked in corporate controlling, risk management and outsourcing management. She holds qualifications as a certified economist and computer scientist.
Eugenio Sangermano has been part of the BF Group since 2023. Prior to that, he spent around 21 years at W&W Asset Management, including roles as Head of Business Development at W&W Asset Management Ireland and as a portfolio manager specialising in corporate private debt, infrastructure debt and real estate debt.
Photo left to right: Francesco Fedele, Maria Angela Ciriello, Fabio Carrozza, Eugenio Sangermano
