Press Release
The Sovereign Wealth Fund of Panama Welcomes a New Board Member
Panama | February 12, 2026
The Sovereign Wealth Fund of Panama (the “Fund”) announces that the National Assembly of Deputies ratified, on January 26, 2026, the appointment of Mr. Álvaro Andrés Naranjo as a member of the Board of Directors of the Fund. Mr. Naranjo was sworn in on January 28, 2026, before the Minister of Economy and Finance, Felipe E. Chapman. Mr. Naranjo joins the Board of Directors of the Fund, replacing former board member Mr. Moisés Cohen Mugrabi.
Mr. Álvaro Naranjo is a financial executive with more than 20 years of experience in capital markets. He currently serves as Senior Vice President of Wealth Management and Institutional Relations at Geneva Asset Management (“GenAsset”), where he has built a career of more than 18 years advising investors and public and private institutions across the region. Throughout his professional trajectory, he has also led strategic initiatives related to Panama’s public debt. Mr. Naranjo serves on multiple boards of directors and is a financial columnist for La Prensa.
Mario R. Amaya, Chairman of the Board of Directors of the Fund, stated: “On behalf of the Board of Directors and the executive team, we extend a warm welcome to Director Naranjo. His experience and deep knowledge of capital markets will contribute to the institutional strengthening of the Fund and the fulfillment of its mandate.”
For his part, Mr. Naranjo stated: “I am honored to join the Fund and its Board of Directors, recognized for its independence and transparency. I look forward to contributing my experience to further strengthen corporate governance and ensure the responsible management of resources for the benefit of present and future generations of Panamanians.”
The Fund reaffirms its commitment to transparency, independence, and the prudent management of the resources under its stewardship, in accordance with its legal framework and 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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