From one stock to 100: CTT – Correios de Portugal’s IR director moves to equity sales role

Sep 17, 2021
Peter Tsvetkov joins CaixaBank BPI following eight years at Portuguese postal group

Following eight years in IR at CTT – Correios de Portugal, Peter Tsvetkov has joined Spanish bank CaixaBank BPI as director of equity sales.

Tsvetkov joined the postal group in 2013 and led the company’s IPO later that year. The listing raised €430 mn ($506 mn) and marked the reopening of Portugal’s IPO market following a five-year hiatus.

Prior to CTT, Tsvetkov worked in corporate strategy and development at Barclays and financial services consulting at Oliver Wyman. He holds an MBA from the MJ Neeley School of Business in Texas.

CaixaBank BPI covers around 100 companies in Spain and Portugal and hosts the flagship Iberian Conference, which took place virtually this week.

Speaking to IR Magazine, Tsvetkov discussed the decision to switch investor relations for investment banking – a far less common change than moving in the other direction.

The additional variety of focusing on many companies ‘really attracted me to that move,’ says Tsvetkov. ‘It’s faster moving and there are many more things to cover every day. I’m moving from one stock to covering 100.

‘Obviously the level of detail varies quite significantly. When you are an IR, you very much have to have an in-depth knowledge about what’s happening in the company. [In the new role] you are perhaps just focusing on the key drivers, key triggers in the equity story.’

One of the benefits of moving from IR to investment banking is bringing deep knowledge of the issuer and investor communities, notes Tsvetkov. He says he has met many of the companies he will be covering at conferences and can lean on the strong links he has made with the buy side in Portugal and abroad.

‘I have a lot of experience with UK investors through my role in IR, as we had huge participation from UK investors,’ he notes.

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