The Company
Hipoges was founded in 2008 and is one of the reference platforms in the field of Asset Management with more than 50,6 billion euros of managed assets.
At present Hipoges manages a very wide range of assets including residential mortgages and foreclosed assets, promoter loans, loans for consumption without collateral, small and medium-size enterprises (SME) loans and loans to large companies with collateral of various typology.
Hipoges timeline
Our Team
A management team with more than 30 years of experience in the field
Hugo Velez
Managing Partner and Co-CEO
Claudio Panunzio
Managing Partner and Co-CEO
António Nogueira
Senior Board Advisor (Portugal)
George Generalis
Board Member (Hipoges Hellas)
Armando Castanheira
Chief Operating Officer
Margarida Maia
Chief Services Officer
Noelia Palacios
General Counsel
Javier Lorés
Chief Human Resources Officer
Marta Márquez
Chief Financial Officer
Miguel Ángel Muñoz
Chief Information Officer
Miguel Fernández
Executive Director Valuation & Technical Due Diligence
Nuno Antunes
Global Chief Real Estate Officer
Nuno Godinho
Chief Corporate Services
Tomás Suárez
Chief Technology Officer
Ángel Alcázar
Chief Operating Officer Spain
Rita Couto
Global Chief NPL Officer
Pelayo Puche
Executive Director Advisory
Luigi Izzo
Chief Business Development Officer
Pedro Valle Domingues
Chief Business Development Officer
Jose Querejeta
Chief Strategy & Development Officer
Hugo Velez
Managing Partner and Co-CEO
Hugo is the founder partner and General Manager at Hipoges. Hugo has more than 25 years of experience in the Financial Sector and 20 in the Servicing Industry.
Hugo has been involved on the establishment of Servicing platforms in different countries, including Spain, Portugal, Brazil, Greece and Italy. Before joining the Servicing Industry, he worked in the Banking industry, more specifically with securitization transactions.
He has a Management Degree from Instituto Superior de Economia e Gestão from Universidade Técnica de Lisboa.
“It is a great honor to participate since the foundation of Hipoges… The constant growth and achievements along the history of the company, make me proud of all the individuals that worked with us in the past, work with us now and will work in the future.”
Claudio Panunzio
Managing Partner and Co-CEO
Claudio Panunzio is the Co-Founder and Co-CEO of Hipoges. Claudio was one of the founding partners of Hipoges, back in 2008, initially focusing on investment advisory activities. Claudio is currently Managing Partner, responsible for Advisory, Compliance, Audit and Business Development Activities.
Prior to Hipoges, Claudio worked at Roland Berger Strategy Consultants and more recently at Lehman Brothers in the Structured Finance Division. He has a degree in Mechanical Engineering as well as an MBA from NYY – Stern.
“I am very grateful to all my colleagues and clients that over the years have contributed so much to our growth into so many different businesses and geographies. Working at Hipoges is an extremely rewarding experience at both a professional as well as personal level”
António Nogueira
Senior Board Advisor (Portugal)
Antonio joined Hipoges Iberia in 2013 and is currently Senior Board Advisor (Portugal). He has over 35 years of experience in Academia, Business and Government. Prior to joining Hipoges Antonio was the Chairman of the Lisbon Stock Exchange (1998/9) and subsequently State Secretary of the Treasury and Finance, in the Government of Portugal (1999/2000). In 2002, Antonio joined the Jose de Mello Group, one of the largest Portuguese conglomerates where he was head of Strategic Planning and Control. He also sat on the board of all of the group sub-holdings. In 2011, Antonio was appointed Executive Vice Chairman of Caixa Geral de Depósitos and Chairman of Caixa Banco de Investimentos, the group investment banking branch.
Antonio holds a BSc in Economics from Portuguese Catholic University and a MSc and PhD in Economics from the Gies School of Business at the University of Illinois, in Urbana-Champaign (USA). He is currently a Business Strategy professor at Nova SBE.
“It has been very satisfying to participate in this project since 2013. Hipoges has grown very substantially, combining accrued shareholder value with a permanent quest for process quality and compliance. The company has always put its workers and other stakeholders at the center of its actions with the resulting impact on its reputation. This is a clear source of pride.”
George Generalis
Board Member (Hipoges Hellas)
George is the founder and the Managing Director of Silex Advisors, a boutique investment and Real Estate advisory firm, and also a board member of Hipoges Hellas and has been responsible for sourcing and realizing commercial real estate projects in Greece and in the CEE region for over a decade, as well as the Lead Real Estate Advisor of Ypsilon Group. George was the Head of Greece & Cyprus of Mountstreet Group, focusing on secured NPL portfolios and REOs in the region, while in this company, George has successfully completed >€10 billion of transactions.
In the past George held senior management positions in the Real Estate departments of Newmark Homes (USA), McDonald’s Corporation, INDITEX Group (ZARA, Bershka etc.), Punto Fa SL (MANGO), organizing and implementing their strategy and expansion. He was also a partner in GVG Capital EOOD, a Real Estate advisory firm with offices in Sofia, Bulgaria and Athens, Greece. George holds a BSc in Engineering from the University of Rochester, an MSc in Mechanical Engineering and a PhD in Engineering Management both from the University of Miami, and finally a PhD in Engineering Micromechanics from the Virginia Polytechnic Institute & State University.
George has over 30 years of Real Estate experience in different sectors and asset classes. He is also a seasoned manager and leads the operations of several multinational organizations.
“It is a great pleasure and honour to serve as a board member for Hipoges Hellas. The great reputation, the achievements and most importantly the people in all sectors of the organization, make this group unique!”
Armando Castanheira
Chief Operating Officer
Armando Castanheira is an experienced professional in the Non-Performing Loans (NPL) industry. Since 2018, he has held the position of Chief Operating Officer (COO) at Hipoges in Portugal. With over two decades of experience, Armando has developed his expertise in asset management, team coordination, portfolio management, compliance and advisory roles. Being the first employee in Portugal when Hipoges was established, he has played a pivotal role in the company's growth and success, which now has a team of nearly 300 employees in Portugal. Armando's commitment to innovation and continuous learning keeps him at the forefront of industry trends, while his dedication to operational excellence ensuring verified results.
"Success is the result of a relentless pursuit of excellence, fuelled by passion, knowledge, and a commitment to making a difference."
Margarida Maia
Chief Services Officer
Margarida joined Hipoges in November 2015 as COO. She was Portugal Country Manager from 2018 untill February 2021, and to date she assumes the role of Chief Services Officer of Hipoges. She has extensive consolidated experience in Operations and People Management: since the launch of new credit products (mortgage business), Operations Site Leader & Collections Efficiency (Iberia) at GE Capital, developing different projects in Europe; At WhiteStar she was the Primary Servicer Director of secured default servicing and unsecured loans, including Performing, Sub-Performing and Non-Performing. Currently, in the asset management area of Hipoges, she ensures comprehensive and integrated solutions and a deep knowledge in the management of all types of distressed assets. During her experience in the financial sector, Margarida has achieved great results in terms of growth and focus on objectives, as well as in the implementation of strategic projects. Margarida obtained a Law Degree from the Lisbon University Law School in 1999.
“Do what you love and success will follow. Passion is the fuel behind a successful career ”. - Meg Whitman (Former HP President and CEO)
Noelia Palacios
General Counsel
Noelia is the Corporate Legal Director. She joined Hipoges in July 2024. Prior to joining Hipoges she worked as Corporate Legal Director at Intrum and in international companies, having started her career at the law firm Uría Menéndez. With 16 years of experience and specialized in commercial law, Noelia holds a double degree in Law and Business Management and Administration from the Universidad Autónoma de Madrid and a General Management Programme from IESE Business School.
“True success is built as a team, where every voice counts, and every effort adds up. Passion for a well-done job with integrity and ethics guides us to make the best decisions for the benefit of our clients, colleagues and the community”.
Javier Lorés
Chief Human Resources Officer
Javier is the Chief Human Resources Officer at Hipoges. He joined the project in 2009 and to date has held different roles within the structure, being currently responsible for Global HR and Marketing and Communication. With more than 20 years of experience, he has dedicated 12 of them to People and Talent Management. Javier was involved in the Consolidation and Reporting team at Vodafone, and at Deloitte as a member of the Transaction Advisory team in the Restructuring area. Javier holds a degree in Business Administration and a degree in Law (both from Universidad Carlos III). He also holds a master’s degree in strategic human resources management and a master's degree in Talent Management 4.0. He is certified in Executive Coaching.
“I’m proud to be part of this project and to contribute to its development and evolution through the development and professional growth of the people (and talent) that make it up’.”
Marta Márquez
Chief Financial Officer
Marta is the Chief Finance Officer at Hipoges, where she has been since 2019. She has over 15 years of experience in financial auditing and professional services at Deloitte, adding to a total of 19 years, supporting international groups across various sectors, with a primary focus on construction and real estate. Marta holds a degree in Business Administration and Management from the Universidad Autónoma de Madrid and is a certified member of the ROAC (Registro Oficial de Auditores de Cuentas).
“Being part of Hipoges is a continuous opportunity to learn from the excellent team that forms it and to contribute to the growth and improvement of the company”.”
Miguel Ángel Muñoz
Chief Information Officer
Miguel Ángel is the Chief Information Officer (CIO) at Hipoges, a position he has held since January 2020. With more than 20 years of experience, he has led digital transformation programmes in the investment banking and financial services sector at an international level, standing out for his focus on process and operations optimisation. For the last decade before joining Hipoges, he specialised in data management, business intelligence, advanced analytics and artificial intelligence, driving innovative solutions in each area. His strategic vision focuses on customer service and delivering tangible results. Under his leadership, Hipoges' information systems and data analytics are being modernised to a new standard of excellence, integrating new technologies and advanced processes. His goal is to build an organisation capable of providing customers with a holistic view of their business, empowering their growth and success. Miguel Ángel holds a degree in Telecommunications Engineering from the Polytechnic University of Valencia.
"Being part of Hipoges means working alongside highly talented professionals, facing new challenges every day and accessing opportunities for constant growth. I am proud to contribute to the engine that drives this team forward and I share the excitement for the achievements we will reach together in the future."
Miguel Fernández
Executive Director Valuation & Technical Due Diligence
Miguel is Executive Director of the valuation department at Hipoges. During his 12 years of experience in the valuation of Real Estate assets in the European market, Miguel has built a team with the ability to support the management and analysis of portfolios in portfolio or in the market, together with new systems and methodologies to improve the valuation process. Miguel holds a Masters in Architecture (ETSAM - UPM - Madrid) and is a RICS candidate.
“I am proud to work in a company that has constantly evolved since I joined in 2013, where there is a new challenge to face everyday and that is committed to the growth of the professionals who constitute it. To this day, we continue to gain clients because we manage to transmit that vision of trust and enthusiasm for a job well done”.
Nuno Antunes
Global Chief Real Estate Officer
Nuno is the Global Chief Real Estate Officer at Hipoges as responsible over the alternative RE related companies’ integration and development. It was previously the RE Director of the Spanish platform. Nuno has more than 18 years of experience in the NPL/REO sector, being previously connected to valuations’ companies for 5 years. Nuno has been involved with the NPL sector since 2007, performing in all type of roles regarding the RE activities on different servicers in Iberia. He built his expertise through the management of sales teams, valuations, advisory and technical due diligence. Nuno has a Management Degree from Lusíadas University and a post-degree in Valuations.
“Everyone wants to live on the top of the mountain, but all the happiness and growth occurs while you’re climbing it.”
Nuno Godinho
Chief Corporate Services
Nuno Godinho is the Chief Corporate Services Officer at Hipoges, where he has been a key leader since 2017. With over a decade of experience in finance and audit, Nuno brings a wealth of experience. Prior to joining Hipoges, he spent more than six years in finance roles at BMW Group in the UK and Portugal, honing his skills in financial management and corporate strategy. Prior to that, he worked as a Senior Auditor at KPMG Portugal, specialising in the Real Estate and Services Audit departments for over four years. Nuno holds a postgraduate degree in Controlling and Management, as well as a bachelor's degree in business administration and management. His strong academic background, combined with his extensive industry experience, has made him a trusted leader in the sector.
“At Hipoges we are fortunate to have a team of dedicated and highly committed professionals who prioritise the needs of our clients. It is a privilege to work alongside some of the brightest minds in the industry and contribute to the growth of the company.”
Tomás Suárez
Chief Technology Officer
Tomás Suarez is the Chief Technology Officer at Hipoges. Tomás joined Hipoges in 2011 to create the company's IT department. With 15 years of experience in the technology sector, he previously developed his career in companies such as Cajastur (Liberbank) and EDP, performing tasks regarding management and administration of information systems. Tomás is a Computer Engineer, specialized in Systems, from the University of Oviedo and holds a Master's degree in Management and Organization of Information and Communications Systems from the Polytechnic University of Madrid and another Master's degree in cybersecurity from IMF.
"Hipoges always works to have the systems and tools that maximize productivity, with a strong commitment to cybersecurity and the data protection of our customers."
Ángel Alcázar
Chief Operating Officer Spain
Ángel joined Hipoges in 2010, in the early years of the company. With over 16 years of experience in the sector. In recent years he has been COO of Sareb, leading a project based on relations with banking institutions, a project that, in 2022, after Hipoges was selected for its management, has been entrusted to Ángel from the start, both in its development and implementation. He is currently COO for Spain and is responsible for the performance of all portfolios under management for both banks and investment funds. At the start of his career, Ángel has held positions as Asset Manager at Hipoges and Senior Asset Manager for large companies as well as SMEs, Ángel also managed accounts at Multigestión Iberia. In addition, he was an Officer for the Spanish Air Force.
"It is certainly a great pride of mine to work at this company almost since its beginning and to be, therefore, involved both in the development and in the achievement of its successes".
Rita Couto
Global Chief NPL Officer
Rita started her career at Hipoges in March 2022 as Chief Operating Officer in Spain and currently holds a new role as the company's Global Chief NPL Officer. With more than 20 years of experience in the servicing industry, Rita has started her career in Portugal leading multidisplinary teams for secured and unsecured portfolios. In 2008 Rita moved to Spain to set up and lead a special asset management team to work on one of the first NPL transactions in Spain. After that she developed her career in Lapithus as Head of Asset Management, Finsolutia as Head of Corporate and Legal Servicing and Haya as Head of Cerberus NPL portfolios. Rita has an extensive experience in servicing portfolios (NPL and RE) from a servicer and client perspective, in the logical of an integrated analysis and management of loan, legal and RE in order to deliver the best outcome for each client. Rita holds a Law Degree from Universidade Católica Portuguesa in Lisbon and an Executive Master in Management from the same University.
“It is an honor to be part of Hipoges, along with very experienced professionals strongly committed with the mission and values of the company. Working is such a motivating environment is key for success”
Pelayo Puche
Executive Director Advisory
Pelayo is the Executive Director of the Advisory area at Hipoges. With a mathematical background, he joined Hipoges in 2009 and began directing the Analysis area from the start of the company until the end of 2019.
After more than 10 years where his main functions were analyzing data, developing reports and managing the team that designs and develops the company's information system, here, Pelayo acquired knowledge that is very valuable in the Advisory area.
In addition to facilitating the entry of new portfolios into our operations departments, he also manages the team that works hand in hand with the Valuations area to advise our clients when purchasing portfolios in all the countries in which Hipoges operates.
“It is a pride to have been part of the start of this company from its first days and to continue being here watching it grow, transform and adapt to new opportunities. “This would have not been possible without the work and dedication of all the people who make up this fantastic group of collaborators.”
Luigi Izzo
Chief Business Development Officer
Luigi has over 10 years of experience in the distressed market, over the years Luigi saw the full Italian NPE cycle leading the execution of more than 25 public NPLs securitization for an overall amount of approx. €50Bn and the valuation of several credit platforms.
Over in Italy, Luigi structured the biggest UTP securitizations, for an exposure of 15 Bn€ gaining the expertise to manage the complexity linked to Unlikely to Pay transactions in terms of both underwriting and structuring processes.
Thanks to Luigi’s deep knowledge of the distressed market and his strong connection to the Italian banking system, in 2019 started to cover the origination activities of Prelios Group also thanks to his links with the owned network of institutional investors.
In 2023 Luigi joined Hipoges to lead the Business Development activities as Executive Director across Spain, Portugal, Italy and Greece.
“More than happy and proud to contribute to the development of Hipoges’ business across South-European countries. A new experience representing the challenge to achieve more and more, together”.
Pedro Valle Domingues
Chief Business Development Officer
Pedro Valle-Domingues is Chief Business Development Officer at Hipoges, originally joined in January 2024, working for the company for 6 years, from 2016 to 2022. With more than 15 years of experience, Pedro joins as an expert in consulting, servicing and banking to reinforce the strategic development of new business lines and lead relationships with clients and the Hipoges ecosystem in the four countries where the company operates: Spain, Portugal, Greece and Italy. Subsequently, his professional experience developed further through his work in investment banking and M&A activities in several countries (Portugal, the United States, Angola and Spain), and in various sectors such as real estate, renewable energies, infrastructure, mining and others. These activities were related to loan financing, solvent companies, restructuring, sub-performing loans, and more recently non-performing loans. Pedro has a degree in Engineering and Management from the Higher Technical Institute of the University of Lisbon.
“Coming back to Hipoges is like coming back home. Here I can contribute to a project that I have seen grow and that together with the entire team I hope to take to the next level. It will definitely be a challenge, but I am sure the journey will be exciting.”
Jose Querejeta
Chief Strategy & Development Officer
Jose is responsible for Global Strategy and Transformation at Hipoges. Since joining in 2019, he has led strategic, transformation and innovation projects. He has extensive experience in Consulting and throughout his career he has guided clients from various sectors and countries through strategy and transformation projects.
José is an Industrial Engineer and has a Master's Degree in Business Administration and Management (MBA), which brings a unique combination of technical and business skills.
“I am very grateful to be able to belong to Hipoges and I have a great commitment to the company's vision. I have the opportunity to work with an exceptional team that inspires me daily. Together with them, I take on the challenge and opportunity to transform Hipoges' current business and along the way define the business for the future."
Culture
At HipoGes we manage assets and develop people. The key to our success comes from the culture of which we are a part of.
CSR
The implementation and development of Corporate Social Responsibility actions is one of the pillars of HipoGes’ strategy.
Certifications
We have obtained several certifications that attest to the quality of our services and our success in the sector.
As one of the main professional bodies for the qualification and standardization of land, properties and construction, RICS certifies and regulates our Valutaions department in Spain and Portugal by complying with the highest codes of conduct and ethics, focusing on the client, complying with RICS Valuation – Global Standards and for the total independence and impartiality of Hipoges as a company.
Fitch Ratings has assigned Hipoges, in the Residential and Commercial Special Servicer categories, the ratings of “RSS2” and “CSS2”, in both Portugal and Spain. Level 2 demonstrates high performance in overall servicing capability, with a stable operating history, substantial financial resources, and robust risk management procedures and control. Thus, Hipoges demonstrates a continuous improvement of the management processes and quality of its services.
The Bank of Greece has granted us a license that accredits us as an entity capable of providing NPL management services in Greece, complying with the current regulations, the regulatory framework and the compliance requirements of the Bank of Greece and the Greek legal framework.
100% based on direct feedback from our employees, this certification is awarded by the company Choose My Company, which recognizes, and rewards companies based on the managing of their employees’ motivation and happiness. We are proud to be recognized as a company in which the development of our activity is linked to happiness and motivation, without which it would not be possible to obtain an adequate performance at work.
Ares Lusitani, the Hipoges Group’s securitization vehicle, is regulated by the CMVM, the entity responsible for the supervision and regulation of the securities market and other financial instruments, as well as the activity of all those operating in those markets.
The team of independent auditors of the Applus+ Certification company have certified the Information Security Management System (ISMS) of Hipoges under the international standard ISO 27001. This certification means that Hipoges’ main goal is to preserve the integrity, confidentiality and availability of the data to and of our clients, suppliers and employees.
The team of independent auditors of the Applus+ Certification company has certified the Hipoges Business Continuity Management System (BMS) under the international standard ISO 22301. The main objective is to improve resilience capabilities and be able to respond in crisis situations, quickly and effectively, reducing the impact of any disruptive event to Hipoges systems.
The EQA Certification, Inspection and Verification Entity has granted us the certification of its Compliance System in the UNE 19601 standard “Criminal Compliance Management Systems” for Spain and in the ISO 37001 standard “Anti-bribery Management Systems” for Spain and Portugal, two main accreditation standards on criminal risk prevention and anti-bribery systems.