About

Luca Serpieri’s legal career began in private practice, where he worked in leading and widely-recognised Italian law firms, mainly in the banking and finance area. There he had the opportunity to assist Italian and international clients with the structuring, negotiation and realisation of complex, high-profile, financing transactions, with increasing autonomy and leadership roles. During this time, around 2000-2002, he was part of a legal team that supported Fiat with several headline transactions. Then as he says, ‘life changed’ in 2011, when executives met at the time of those Fiat transactions, proposed an in-house position in CNH (the company’s agriculture and construction equipment business), in its financial services arm. He joined the group when the de-merger between Fiat and Fiat Industrial became effective and then took on additional responsibilities in 2014, following the merger between Fiat Industrial and CNH, which led to the creation of CNH Industrial. His current position is within the EMEA leadership team of financial services, covering all sectors of the CNH Industrial group. Among the many transactions and other legal matters Serpieri has handled in his role, he has implemented a pan-European revolving securitisation program relating to wholesale receivables originated by CNH Industrial in 10 jurisdictions across Europe. He also aided the renewal of a joint venture between CNH Industrial and BNP Paribas Leasing Solutions active in the field of retail financing across Europe, significantly enlarging the scope of its activities and revising its corporate governance and regulatory structure. Additionally he launched a pan-European intra-group business optimisation and corporate reorganisation project, which followed the merger between Fiat Industrial and CNH, when previously independent financial services organisations were combined. This project involved several financial intermediaries and companies in EMEA, domestic and cross-border mergers, as well as a wide range of regulatory matters, including in respect of CRD IV, ECB/ACPR approvals, licence extensions, withdrawals, passporting and other matters. On the structure of the group and his leadership, Serpieri says that ‘financial services EMEA is supported by a lean dedicated legal team, which operates in conjunction with the larger legal department of CNH Industrial and the other teams of financial services which are involved in claims collection, recovery and restructuring activities. Also in light of the various group reorganisations described above, several changes were implemented throughout the years, to remove any overlapping, standardise and increase efficiency, in the context of a matrix organisational structure that encourages the sharing of resources, information and competencies across functional departments’.