Luís Augusto elected president of the Portuguese Association of Leasing, Factoring and Renting

The Portuguese Association of Leasing, Factoring and Renting (ALF) has just elected the new governing bodies for the term 2021-2023, appointing Luís Augusto as President of the Board of Directors. The entity that represents the specialised financing sector in Portugal presents new governing bodies to continue supporting its members and contribute, through them, to the recovery of the Portuguese economy.

With a Bachelor's Degree in Economics from the Nova School of Business and Economics and an MBA from the Católica Lisbon School of Business and Economics, the newly elected president was chosen on behalf of BNP Paribas Factor, institution in which he is CEO for Portugal.

The remaining ALF Board of Directors elected at the General Assembly comprises Pedro Cunha, representing Santander, Pedro Pessoa, representing Leaseplan, Júlio Jacob, representing Novo Banco, and Paulo Matos, representing Millennium BCP.

Successor to Alexandre Santos - who took office in April 2019 and will now be President of the Supervisory Board, representing Caixa Geral de Depósitos -, Luís Augusto and the new members elected to the governing bodies will continue the efforts developed by ALF over almost four decades, in supporting and boosting Leasing, Factoring and Renting activities.

Luís Augusto, president of ALF, states that "these are very demanding times for economic agents, and the members experience it in their activities and in the support they have continued to provide to the national economy, despite the constraints caused by the pandemic in the last year and a half". The head of the association highlights the "importance of the specialised financing sector in revitalising the economy and in responding to the enormous challenges of climate change".

Committed to the development of the sectors of activity and representation of its members in Portugal and internationally, vis-à-vis public and private entities, the governing bodies will maintain their focus on the enhancement and training of the sectors’ various stakeholders, as well as in the constructive dialogue with public authorities.

Besides Alexandre Santos (CGD), Carla Camilo, representing DLL, and João Gomes, representing ALD Automotive, were also elected as members of the Supervisory Board. Isabel Barroso de Sousa (BPI) remains President of the General Assembly, with António Machado (Montepio) as Secretary.

In the pandemic context of 2020, ALF's members registered a reduction in activity, but maintained their high weight in the economy in a period of economic contraction. Leasing financed investments in movable assets and real estate to the amount of €2.4 billion, while Factoring totalled €31.5 billion in turnover (equivalent to about 16% of the national GDP). Renting, on the other hand, registered a production of new light vehicles in the amount of 557.3 million euros. Together, Leasing and Renting were responsible for the acquisition of around 34% of new vehicles sold in Portugal.