Giorgio Cirla - Chairman
Giorgio Magnoni - Vice Chairman and Managing Director
Luca Magnoni - Investments in Financial Services and Insurance
Aldo Magnoni - Real Estate Area
Alberto Ciaperoni - Chief Financial Officer - CEO of Sopaf Capital Management SGR  
Daniele Muneroni - Investments in Financial Services and Insurance

Appointed as Sopaf's Chairman in May 2006, Giorgio Cirla previously served as Managing Director of Interbanca S.p.A. (1997-2006). He is the Chairman of the Board of Directors of Cipa S.p.A. and is a Member of the Board of Directors of Immsi S.p.A., Finalgo S.p.A. and Italgo S.p.A..
Mr. Cirla's long career in the financial services industry has included positions as Managing Director of Arca Merchant S.p.A. (1987-1997) and in various managerial roles at Banco Lariano (1960-1987).  He has served as a Director and Chairman of various publicly traded companies in the financial services, insurance and banking sectors in Italy and abroad.

Giorgio Magnoni set up LM ETVE in 2002 and served as its CEO until the company's merger with Sopaf.  Upon the merger, he was named as Sopaf's Vice Chairman and Managing Director.  From 1995 to 2001, he held the position of Managing Director of ITI B.V., a firm specializing in financial services for high net worth individuals.  Prior thereto, he was Managing Director and majority shareholder of Pragma, a leading project-financing and international-consulting firm that was later absorbed by Cogis.  Mr. Magnoni also has significant experience in investment banking, serving as a Vice President and Director of Dillon Read & Co. Inc. and Dillon Read Overseas Corp. (1972-1982), which were later merged into SG Warburg. 

Luca Magnoni has been a member of Sopaf's board of directors since 2005, with responsibility for investments in financial services and insurance.  He was previously assistant to the CEO-President of Totobit Informatica (2001-2004) and chief executive officer of Quantum 2 – Intek Group (2000-2001).  From 1998 to 2000, he worked as an associate for Booz-Allen & Hamilton in the firm's offices in Rome, Barcelona and Riyadh. From 1995 to 1996, he was a financial analyst for Ramius Capital Group in New York. He began his career as an assistant to the managing director of the Milan-based Cogis Trading Company. He holds an undergraduate degree in political science from the University of Milan, and an MBA in Global Management and Finance from the University of California at Berkeley.

Active in the real estate market for more than 30 years, Mr. Magnoni has worked with various property companies, and has experience in trading, development and land subdivision. He has perfected several major trading transactions (Guastalla, Santa Maria alla Porta) and has managed a series of important residential development projects in the city and suburbs of Milan (Porta Vittoria).

Alberto Ciaperoni

Alberto Ciaperoni has been CFO of Sopaf since December 2005 and is CEO of Sopaf Capital Management SGR S.p.A. and Chairman of Adenium Sicav. Before working with the Sopaf Group, he was the head of support activity for Banca BSI Italia. From 1996 to 1999, he was the head of support activity for Lehman Brothers Italia, and then served as the firm's controller from 1999 to 2004. His previous experience includes positions as a consultant in the capital markets divison of Ernst & Young Milano (1995-1996) and account manager for the core operational service division of JP Morgan's Milan branch (1994-1995). He began his career as an auditor for Reconta Ernst & Young Milano (1992-1994). He holds a university degree in economics and commerce.

Daniele Muneroni joined Sopaf in February 2006 and is director of financial and insurance investments. From 2000 to 2006, he worked for Mediobanca, initially in the corporate lending area and later on in the leveraged finance, project finance and export finance teams. He left the Italian Financial Police (Guardia di Finanza) at the end of 1999, after having served as an officer at the General Headquarters. He holds a degree in business economics from L.U.I.S.S. University.