Euler Hermes has appointed Mahan Bolourchi as CEO of GCC countries in Dubai.

He will oversee the German ECA’s operations throughout Bahrain, Kuwait, Oman, Saudi Arabia and UAE, and will report to the organisation’s head of Mediterranean countries, Middle East and Africa region, Michele Pignotti.

Bolourchi joined Euler Hermes as a credit underwriter in Germany in 2001. He became senior export credit manager in Germany before becoming head of risk underwriting and head of information and project management in Switzerland. Bolourchi was appointed risk, information and claims director for the GCC and Middle East in 2007. He replaces Massimo Falcioni in his new role, who has left the company.

“His professionalism and proven credit insurance experience in the GCC will support Euler Hermes’ long-term growth and market leadership,” says Pignotti. “With Mahan’s appointment we continue to strengthen our organisation in this fast-growing market and to meet our ambitious client requirements.”

Commenting on his new role, Bolourchi says: “The market potential for and benefits of trade credit insurance are high in the GCC region.”

“The GCC team is focussed on providing high-quality service to our customers, and to delivering tailor-made solutions to protect companies of all sizes and sectors against payment defaults,” he adds.