Press Release

The Board of Directors Re-elects its Chair and Vice Chair

Panama | March 3, 2022

The Board of Directors (the “Board”) of the Fondo de Ahorro de Panama (“FAP” or “Fund”), in its February 23, 2022, ordinary meeting unanimously re-elected director Anamae Maduro de Ardito Barletta and director Jean Pierre Leignadier as Chair and Vice-Chair of the Board, respectively; both directors took office on February 23, 2022.

 “I appreciate the trust that the Board has placed on vice president Leignadier and me; this is a challenge that we assume with great responsibility to serve our country. Under the pillars of independence and transparency, we hope to continue with our priorities related to the diversification of our Strategic Portfolio, and the continuous improvement of this organization, which manages the savings of all Panamanians,” said Mrs. Maduro de Ardito Barletta.

During the previous presidential period, the Fund made several important achievements:

  • The Fund executed for the first time its main legal mandate during the Covid-19 Pandemic: being a stabilization mechanism in case of a natural disaster; and economic slowdowns.

  • Implementation of the private equity portfolio, which has enabled us to diversify our Strategic Portfolio.

  • Lead the Fund's environmental-social-governance initiative by becoming the country´s first signatory to the United Nations-supported Principles for Responsible Investment.

The aforementioned election is based on the Board’s sound corporate governance practices and on ensuring that the Fund continues to be managed under conservative asset management principles.

Director Maduro has more than 25 years of professional experience in the financial and banking sectors.  She is a board member of Multibank and the Prival Bank family of funds and is a founding member of the Association of Securities Agents of Panama.  Mrs. Maduro holds a bachelor’s degree in Economics and Business Administration from Brown University, Providence, Rhode Island, USA.

Director Leignadier has more than 25 years of experience in the financial and commercial sectors.  Mr. Leignadier was president of the Board of Directors of the Chamber of Commerce, Industries, and Agriculture of Panama and is currently a member of the Board of Directors of the National Council of Enterprises.  Director Leignadier earned his Bachelor of Business Administration from Villanova University and his Master of Business Administration (MBA) from the University of Notre Dame, South Bend, Indiana, USA.

 

About the Fondo de Ahorro de Panama
The Fund was created by Law 38 of June 5, 2012, whose main objectives are:

  1. Establish a long-term savings mechanism for the Panamanian State; and

  2. Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.

Contact: Administration, +507-394-5776/5706, administrador@fondoahorropanama.com
For additional information visit www.fondoahorropanama.com
 
 
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