The Board of Directors is currently comprised of nine (9) members, as follows: three (3) Directors elected by the holders of the Class "A" common shares; four (4) Directors elected by the holders of the Class "E" common shares; and two (2) Directors elected by the holders of all common shares.

Class "A"

Eduardo Hecker
Fausto de Andrade Ribeiro
José Alberto Garzón

Class "E"

Ricardo Manuel Arango
Mario Covo
Miguel Heras Castro
Roland Holst

All Classes

Alexandra M. Aguirre
Isela Costantini

Class "A"

Eduardo Hecker
Board of Directors
Eduardo Hecker
Class "A" Director
Class "A" Director
  • Audit Committee, Member
  • Compensation Committee, Member

 

Eduardo Hecker, Director of the Board since 2020, is Chairman of Banco de la Nación Argentina, Argentina, Chairman of Asociación de Bancos Públicos y Privados de la República Argentina (ABAPPRA) and Play Digital S.A. since 2020. He previously served as Director of DEL Consultores, Argentina. Mr. Hecker was President of the Comisión Nacional de Valores, Chairman of Banco de la Ciudad de Buenos Aires, Argentina, Second Vice President of Asociación de Bancos Públicos y Privados de la República Argentina (ABAPPRA), Director of Red Link, S.A., Argentina, Secretary of Desarrollo Económico de la Ciudad de Buenos Aires and Director of Centro de Estudios para la Producción-Secretaría de Industria, Comercio y Minería de Argentina. He is currently Director of the Program for Specialization in Banking Administration of Universidad de la Matanza (UNLaM), Argentina and is the author of the following books: Los desafíos del desarrollo, diagnósticos y propuestas published in 2005, Hacia del desarrollo económico, ventajas competitivas, actores y políticas en la Ciudad de Buenos Aires, published in 2003, La inversion extranjera en la Argentina en los años ´90, published in 1998, among others. In 2003, Mr. Hecker was recognized by Noticias Urbanas with a Quality Award granted under the topic Best Government Management during his office of Secretary of Economic Development of the city of Buenos Aires.

Mr. Hecker holds a degree in Economics of Universidad de Buenos Aires, Argentina. His extensive experience along with his academic and consulting skills, qualify him to serve in the board.

Fausto de Andrade Ribeiro
Board of Directors
Fausto de Andrade Ribeiro
Class "A" Director
Class "A" Director
  • Audit Committee, Member
  • Compensation Committee, Member

Fausto de Andrade Ribeiro, Director of the Board since 2022, is Chief Executive Officer of Banco do Brasil since 2021.  Since 2021 is Chairman of the Board of Banco Votorantim S.A., Brasilprev S.A., UBS BB and Regional Chairman of Associação de Administradoras de Consórcios since 2020.  Mr. Ribeiro was member of the Board of Tecban and Ativos S.A. and was Chairman of the Board of Companhia de Energía Eléctrica do Rio Grande do Norte.  Mr. Ribeiro has served as member of the Board of Cámara de Comercio Exterior Espanha-Brazil, member of the Supervisory Board of Alelo, Elo Participaçãoes and BBTUR, Chairman of the Supervisory Board of Fundação Banco do Brasil, member of the Audit Committee of Cobra Tecnologia, Chairman of Risk, Compliance and Audit Commission of Camara Interbancaria de Pagamentos (CIP).   He has been employed by Banco do Brasil in various capacities since 1988, holding the positions of CEO of BB Administradora de Consórcios, Executive Manager-Accounting Directorship, General Manager of Banco do Brasil in Spain, Executive Manager-Accounting Directorship and Internal Controls and Compliance Directorship and Channels Unit. Mr. Ribeiro has been guest speaker in many international seminars about Operational Risk Management, Internal Controls and Compliance.  He is the chapter writer of the book “Gestão de Riscos no Brasil”, organized by Duarte Junior, Antonio Marcos Varga. 

Mr. Ribeiro holds a Bachelor in Law from UNICEUB-Centro Universitario de Brasilia and a Bachelor in Administration from Faculdades Integradas Católica de Brasilia.  Mr. Ribeiro also holds Master degree in Business Administration (MBA in Finance), Specialization in International Finance from IBMEC.  He is a graduate of Bank Management for Results Program from University of Chicago and University of Texas, Austin and of Economics Minerva Program – The Theory and Operation of a Modern National Economy – Final paper: Central Bank-Independence, Governance and Accountability, from the George Washington University.  Mr. Ribeiro’s professional experience in and related to the banking industry and as a board member qualifies him to serve on the board.

José Alberto Garzón
Board of Directors
José Alberto Garzón
Class "A" Director
Class "A" Director
  • Audit Committee, Chairman
  • Compensation Committee, Member
  • Compliance and Anti-Money Laundering Committee, Member

 

José Alberto Garzón, Director of Board since 2017, is Legal Vice President and General Secretary of Banco de Comercio Exterior de Colombia S.A. (Bancoldex) in Colombia since 2003, Administrative Vice President from 2016 to 2017 and in various other capacities with Bancoldex since 1995, holding the positions of Director of the Legal Department and Attorney in the Legal Department. Mr. Garzón has served as a member of the Board of Directors of Fiduciaria Colombiana de Comercio Exterior S.A. (Fiducoldex) in Colombia since 2016, Leasing Bancoldex S.A. Compañía de Financiamiento in Colombia since 2015. He was a member of the Board of Directors and the Audit Committee of Segurexpo de Colombia S.A. Aseguradora de Crédito, Colombia between 2000 and 2021. Mr. Garzón is a member of the Board of Directors of the Colombian Institute of Corporate Governance and since 2021 he chairs the Rediscount Entities and Public Banking Committee of the Colombian Banking and Financial Entities Association – Asobancaria. Previously Mr.Garzón was an Attorney at Legis Editores in Colombia and General Manager of Servibolsa Ltda. Servicios Inmobiliarios. He was a Professor of Credit Insurance in the Insurance Law Program at Pontificia Universidad Javeriana in Colombia and previously taught History of Political Ideas and Insurance at Fundación Universitaria Jorge Tadeo Lozano in Colombia. 

Mr. Garzón holds a Law degree and a Master’s degree in Financial Law from Universidad del Rosario in Colombia.  Mr. Garzón also holds Master’s degrees in Commercial Law and Project Finance Studies from Universidad de Los Andes in Colombia and Insurance Law from Pontificia Universidad Javeriana in Colombia. Mr. Garzón is a graduate of Transformative Business Leadership at Centro de Liderazgo y Gestión and of Leading Economic Growth at Harvard’s Kennedy School. Mr. Garzón’s first-hand experience and vast knowledge of administrative, legal and regulatory matters relating to the banking industry and, in particular, trade finance qualifies him to serve on the Board.

Class "E"

Ricardo Manuel Arango
Board of Directors
Ricardo Manuel Arango
Class "E" Director
Class "E" Director
  • Compliance and Anti-Money Laundering Committee, Chairman
  • Finance and Business Committee, Member
  • Risk Policy and Assessment Committee, Member

 

Ricardo Manuel Arango, Director of the Board since 2016, is Senior Partner of the law firm of Arias, Fábrega & Fábrega in Panama. Since 2004, Mr. Arango has held several leadership positions in the firm, contributing to shape the organization into a leading Latin-American law firm. Mr. Arango has served as a member of the board of directors of the Panama Canal Authority since 2016 and as a member of the board of directors and audit and compliance committees of Banco General since 2012. Mr. Arango served as a member of the board of directors of Corporación La Prensa and as Chairman of its Editorial Committee. He also served as a member of the board of directors of the Panama Stock Exchange and as its Chairman. Mr. Arango is a member of the Latin American Business Council (CEAL). Mr. Arango worked at White & Case in New York. Mr. Arango worked as an associate with Arias, Fábrega & Fábrega in Panama, becoming a partner of the firm in 1995. Mr. Arango’s professional practice focuses on finance, capital markets, banking regulations, corporate governance and compliance, and mergers and acquisitions. During his career, Mr. Arango has acted as lead counsel in some of the largest and most complex financial transactions and acquisitions in Panama and Central America. From 1998 to 1999, Mr. Arango headed the Presidential Commission that drafted Panama’s current securities act.

Mr. Arango holds a Bachelor’s degree in Law and Political Science from the University of Panama, a Master of Laws degree from Harvard Law School and a Master of Laws degree from Yale Law School. He was a Fulbright Scholar from 1983 to 1985. Mr. Arango is admitted to practice law in New York and Panama. Mr. Arango’s strong knowledge of the regulatory frameworks under which the Bank operates; skills in managing legal, compliance, operational and credit risks of the banking industry; diversified perspective based on his combined legal/business acumen; in-depth understanding of the Bank’s business and operations; and experience as a board member for different companies, qualify him to serve on the Board.

Mario Covo
Board of Directors
Mario Covo
Class "E" Director
Class "E" Director
  • Finance and Business Committee, Chairman
  • Risk Policy and Assessment Committee, Member

 

Mario Covo, Director of the Board since 1999, is Founding Partner of DanaMar LLC in New York, a financial consulting firm established in 2013, and of Larch Lane Partners, an investment advisory firm established in 2019. He was a Founding Partner of Helios, a Founding Partner of Finaccess International, Inc. and a Founding Partner of Columbus Advisors. Dr. Covo worked at Merrill Lynch, where he was Head of Emerging Markets-Capital Markets. Prior to working for Merrill Lynch, Dr. Covo worked at Bankers Trust Company of New York as Vice President in the Latin American Merchant Banking Group, focusing on corporate finance and debt-for-equity swaps. Prior to that Dr. Covo was an International Economist for Chase Econometrics, focusing primarily on Latin America.

Dr. Covo holds a Ph.D. in Economics from Rice University and a B.A. with honors from Instituto Tecnológico Autónomo de Mexico. Dr. Covo’s extensive background and experience in the financial services industry, and his exposure to the markets in which the Bank operates qualify him to serve
on the Board.

Miguel Heras Castro
Board of Directors
Miguel Heras Castro
Class "E" Director
Class "E" Director
  • Risk Policy and Assessment Committee, Chairman
  • Finance and Business Committee, Member

 

Miguel Heras Castro, Director of the Board since 2015 and was elected Chairman of the Board in 2019. Mr. Heras is the Founder and Managing Partner of MKH Capital Partners, a private equity firm based in Florida, U.S.A. Since 1999, he has served as Managing Director and as a member of the Board of Directors of Inversiones Bahia, Ltd. in Panama, the largest investment group in Central America, focusing on the financial, infrastructure, energy, real estate, and communications markets. Mr. Heras currently serves on the boards of Tigo Panamá, Avelo Airlines, Copa Colombia, Televisora Nacional and Bahía Motors. He is also a member of The Wharton School of the University of Pennsylvania Executive Board for Latin America and is Vice President of the Board of the Panama Food Bank Foundation. He obtained extensive knowledge and experience in the banking industry while serving as a member of the Board of Directors and Asset-Liability Committee (ALCO) of Banco Continental de Panama for more than 5 years. Mr. Heras structured the acquisition of several companies and banking institutions, and in 2007 led the negotiation for the integration of the banking businesses of Banco Continental de Panamá and Banco General, which converted Banco General into one of the largest banks in Central America. In addition, Mr. Heras was also a member of the Board of Directors of Amnet Telecommunications Holdings, Cable and Wireless (Panama) Inc. and the Panamanian Stock Exchange. Mr. Heras was Minister of the Treasury of the Republic of Panama and President of the Council on Foreign Trade from 1996 to 1998. He served as Vice Minister of the Treasury from 1994 to 1996.

Mr. Heras holds a Bachelor of Science in Economics from the Wharton School of Commerce and Bachelor of Science in Finance from the University of Pennsylvania. Mr. Heras’ professional expertise in economics, finance and private equity and his experience as a board member of different companies qualifies him to serve on the Board.

Roland Holst
Board of Directors
Roland Holst
Class "E" Director
Class "E" Director
  • Finance and Business Committee, Member
  • Risk Policy and Assessment Committee, Member

 

Roland Holst, Director of the Board since 2017, was Treasurer and Member Ex-Officio of the Board from May 2017 to October 2017 and was previously a Board member from 2014 to 2017. Dr. Holst is a board member of Sudameris Bank, Paraguay since 2017 and served as a Director of the Board of Banco Central del Paraguay from 2012 to 2017. He was Head of Fixed Income Research at State Street Global Markets in Boston, Massachusetts and Quantitative Analyst at Starmine Corp. in San Francisco, California. He was a Teaching Assistant of Econometrics, Public Finance, Finance, Program Evaluation, Macroeconomics and Labor Economics at the University of Chicago. Dr. Holst worked at Garantia PFP, a pension fund, as an Investment Manager and was General Manager of Bolsa de Valores de Asunción, Paraguay. He is the author of ‘‘Social Security and Policy Risk: Evidence of its effects on welfare costs and savings’’ published in 2007.

Dr. Holst holds a Ph.D. in Public Policy and a Master in Economics from the University of Chicago. He also holds a Master in Economics from Universidad Católica de Asunción, Paraguay, degrees in Economics and Agronomy from Universidad Nacional de Asunción, Paraguay and a Financial Risk Manager (FRM) certification. Mr. Holst’s professional experience in the fields of finance and economics and his academic accomplishments qualify him to serve on the Board.

All Classes

Alexandra M. Aguirre
Board of Directors
Alexandra M. Aguirre
All Classes Director
All Classes Director
  • Finance and Business Committee, Member
  • Risk Policy and Assessment Committee, Member

 

Alexandra M. Aguirre, Director of the Board since 2020, is a Partner at Holland and Knight LLP since June 2022. Previously, Ms. Aguirre was a partner at Morrison & Foerster, LLP from 2019 to 2022 and was a shareholder at Greenberg Traurig LLP. Ms. Aguirre has been acting as Chairman of the Board and General Counsel of Pan American Development Foundation since 2015, member of the Presidential Advisory Council (PAC) of INCAE Business School since 2019. She is also a board member of the Women Lawyer’s Interest Group of the International Bar Association since 2019.

Ms. Aguirre holds a Bachelor’s Degree in Marketing and Entrepreneurial from Babson College and a Juris Doctor from Northeastern University School of Law. Ms. Aguirre has been listed for the Latin America´s Top 100 Lawyers (Latinvex 2019-2021), ‘‘40 under 40’’ (The M&A Advisor 2015) and the Florida Super Lawyers Rising Star (Super Lawyers Magazine 2009). She was also a finalist to receive the Top Dealmaker of the Year Award, Corporate Category (Daily Business Review 2012) and recipient of M&A Deal of the Year Award (Latin Lawyers Magazine 2008). Ms. Aguirre is admitted to practice law in Florida, District of Columbia and New York. Her professional expertise in corporate finance law, corporate governance and cross-border financing transactions in Latin America and United States and her experience as board member in different entities, qualify her to serve on the Board.

Isela Costantini
Board of Directors
Isela Costantini
All Classes Director
All Classes Director
  • Compensation Committee, Chairman
  • Audit Committee, Member

 

Isela Costantini, Director of the Board since 2019, is Chief Executive Officer of GST Financial Services in Argentina. She is a member of the boards of each of San Miguel S.A. since 2019, IRSA S.A. since 2017, and the Food Bank of Argentina since 2015. In addition, she is a counsel member of CIPPEC (Centro de Implementación de Políticas Públicas para la Equidad y el Crecimiento) since 2017 and member of the International Advisory Board of Barrick Gold since 2021. She has previously served as President and Chief Executive Officer of Aerolíneas Argentinas and held multiple positions at General Motors, where she began working in 1998 and became President of the company for Argentina, Paraguay and Uruguay.

Ms. Costantini holds a Social Communications Degree, with a Major in Advertising from Pontificia Universidade Catolica do Parana (PUC-PR), Brazil and an MBA, with specialization in Marketing and International Business from Loyola University in Chicago. Her professional expertise in restructuring, marketing and communications, and experience as a board member and in leadership roles in different entities, qualify her to serve on the Board.