Leadership change at Euler Hermes as CEO Verstraete steps down

France-based trade credit insurer Euler Hermes Group is undergoing a change at the top with long-serving chief executive Wilfried Verstraete stepping down after almost 12 years in the role.

The insurer has appointed Allianz France's chief financial officer Clarisse Kopff as the new CEO and chairperson of the board of management starting January 1, 2021.

Verstraete will remain as an advisor to the new CEO in 2021. He will also retain board positions in Euler Hermes SA, Euler Hermes North America, Solunion and Euler Hermes Reinsurance AG. Verstraete joined Euler Hermes in 2009 where he steered the group through the global financial crisis.

Kopff is currently CFO of Allianz France. She began her career in debt origination at Lehman Brothers in London, then as an auditor with PricewaterhouseCoopers in Paris before joining Euler Hermes in 2001 as controller for the company’s French entity in Paris. From 2007, she served Euler Hermes in several positions of increasing responsibility and international scope, before being promoted as group CFO in 2014 where she was responsible for all group finance functions, asset management, legal and compliance, M&A, tax and risk and capital management.

Kopff said: “I am honored to accept this position as Euler Hermes Group CEO. I thank Wilfried Verstraete for his trust. The current crisis is far from over but with his ongoing support, I am prepared to lead the company and accompany our clients and partners through these difficult times. It is a great mission for leaders today to instill confidence in tomorrow. On more personal grounds, I am also looking forward to reconnecting with my former colleagues at Euler Hermes,” said Clarisse Kopff, Chief Financial Officer, Allianz France.

Verstraete said: "It has been a real privilege to serve my teams and our clients as the CEO of Euler Hermes. I am proud to have witnessed the high potential of our teams unleashed, which resulted in expanding our market leadership and raising the bar of unparalleled customer service. Yet, the strength of this company can only be as strong as the ties between our partners. Therefore, I want to thank our clients and partners for their unwavering trust in us throughout these years.

Clarisse proved her talent and competence throughout her 16 years at Euler Hermes, where she was instrumental in creating a truly integrated Group reinforced by its strong financial performance. I am confident that with her visionary leadership, backed by her experience at Allianz France, Clarisse will take Euler Hermes to the next level and continue setting the standard for customer experience in trade finance.”