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EUROPE - EIF makes two appointments

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The European Investment Fund (EIF) has appointed Richard Pelly as chief executive officer and Jean-Marie Magnette as deputy chief executive. Richard Pelly succeeds Francis Carpenter, whose term of office ended in February.

Richard Pelly was most recently managing director at Pall Mall Capital where he focused on debt advisory mandates. Previous positions include chairman and CEO of Budapest Bank, CEO of UK Business Finance within GE Commercial Finance and managing director of structured asset finance at Lloyds TSB Bank.

Jean-Marie Magnette was most recently alternate director representing the European Commission on the EIF Board of Directors. Magnette has an MBA from the University of Chicago Graduate School of Business.

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