Press Release

New Board Member of the Fondo de Ahorro de Panama

Panama | May 6, 2021

The Fondo de Ahorro de Panama (“FAP” or “Fund”) makes reference to the swearing in of Mrs. Mayra Kam Rauschkolb today before the Minister of the Economy and Finance as a new member of the Fund’s Board of Directors.  Mrs. Kam Rauschkolb, who replaces Mr. Álvaro Tomas Abrahams, was appointed to the board in accordance with Executive Decree No. 91 of March 5, 2021, and ratified by the National Assembly on April 28, 2021.

Mrs. Kam Rauschkolb has more than 30 years of professional experience in the financial and banking sectors, and is currently president of Financiera Pacífico Internacional S.A.; she is also a board member at the Asociación Directoras de Panamá.  Mrs. Kam Rauschkolb holds an MBA (The Wharton School) and an MA in International Studies (The Lauder Institute), and an Economics degree, all from the University of Pennsylvania.

Mrs. Anamae Maduro de Ardito Barletta, chair of the Board of Directors, welcomes the new director, commenting that “Mayra is a recognized industry leader; we look forward to benefitting from her experience at a challenging time in the financial markets.”  Mrs. Kam Rauschkolb added, “I am honored by this appointment, and I commit to ensuring that the Fund continues to be managed prudently, focusing on capital preservation and on obtaining sustainable returns, particularly considering the challenges in the financial markets environment.”

Regarding outgoing director Tomas, Mrs. Maduro de Ardito Barletta emphasized that “the FAP’s Board of Directors recognizes fully the valuable service that director Tomas has provided to the Fund and to the country; of particular note is his steadfast dedication to ensuring that the Fund complied with Law 56 of 2017, which seeks to promote gender equity and the appointment of women on boards.”

The Fund has seven members on its Board of Directors. New members to the Board are nominated by the Executive Branch and ratified by the National Assembly for a period of seven years, or for the remaining period of an outgoing director.

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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