Press Release
The Sovereign Wealth Fund of Panama Welcomes a New Board Member
Panama | March 11, 2026
Consistent with its commitment to maintaining strong and independent governance, the Sovereign Wealth Fund of Panama (the “Fund”) announces the appointment of Mr. Otto Oswald Wolfschoon Horna as a member of its Board of Directors, following ratification of his nomination by the National Assembly of Deputies. Mr. Wolfschoon was sworn in on March 6th, 2026, before the Minister of Economy and Finance, Felipe E. Chapman. He joins the Board of Directors of the Fund, succeeding Mr. José N. Abbo.
Mr. Wolfschoon brings 40 years of experience in the Panamanian financial sector, with extensive expertise in corporate banking, credit, and strategic management. He currently serves as Executive Vice President and Deputy General Manager of Global Bank, an institution he joined at its founding, where he has led key areas including Credit, Operations, Treasury, and Corporate, Commercial and International Banking.
Throughout his career, he has also held senior positions at international institutions such as The Chase Manhattan Bank and Bank of Boston, and actively serves on boards of directors and strategic committees within Panama’s financial and business sectors.
Mario R. Amaya, Chairman of the Board of Directors, stated: “On behalf of the Board of Directors and the executive team, we extend a warm welcome to Director Wolfschoon. His extensive experience in the financial sector will bring strong technical judgment and strategic insight to the Fund’s management, in line with our mandate and long-term vision.”
Mr. Wolfschoon commented: “I assume this responsibility with a strong sense of institutional commitment. I am confident that my experience in the financial sector will contribute to preserving the strength, discipline, and long-term vision that characterize the Fund.”
The Sovereign Wealth Fund of Panama reaffirms its commitment to the prudent, transparent, and independent management of the resources under its stewardship, in strict adherence to its legal framework and to international best practices applicable to sovereign wealth funds.
About the Panama Savings Fund
The Fund was created under Law 38 of June 5, 2012, with the following primary objectives:
To establish a long-term savings mechanism for the Panamanian State; and
To establish a stabilization mechanism for states of emergency (declared by the Cabinet Council) and periods of economic slowdown.
Contact: Administration, +507-394-5776/5706, administrador@fondoahorropanama.com
For additional information, please visit www.fondoahorropanama.com
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