Is an investor and senior executive with over 20 years of international experience in telecoms, capital markets and investment banking. He has as well a long experience as a Non-Executive Board Member in various financial institutions in Brazil, Africa and Latin America. He is currently a Senior Advisor in Portugal for JB Capital, a leading Spanish investment banking boutique, as well as Board Member in two institutions:
CIFI S.A. and Restoque S.A., one of the main fashion retailers in Brazil and listed in the São Paulo stock exchange (B3).

Until early 2020 he was the CEO of CaixaBI, one of the main investment banks in Portugal and a subsidiary of CGD Group, the State-owned banking group.

Previously he was a senior executive for Portugal Telecom Group in Brazil, as M&A and Business Development Director at Vivo and as the CFO and EVP of Primesys. After that he moved to London to join Dynamo Capital as a Senior Investment Analyst and Partner until 2009, when he leaves to co-found and manage an emerging market focused hedge fund.

In 2012 he joins Caixa - Banco de Investimento, S.A., one of the main investment banks in Portugal, as a member of the Executive Team and is promoted to the CEO position in 2013.

Mr. Saldanha e Souza holds a degree in Economics and Finance from Nova School of Business and Economics (1993) and an MBA from University of Virginia Darden School of Business (1999).

Judith de Barany was initially nominated to CIFI’s Board by the International Finance Corporation (IFC/ World Bank), where she had formerly worked as Advisor in Washington D.C. Previously, she founded and ran a fund advisory business based in Europe. Before that, she led international private banking teams at JP Morgan, Bank of Boston, and Bankers Trust in New York.

Judith holds an M.B.A. from Harvard Business School and a B.A. in Economics from Wellesley College. Fluent in English, Spanish, Portuguese, French, and Hungarian, she is a dual Venezuelan/Hungarian national. She is also on the Board of Directors of Agua Imara; a Norwegian renewable energy company focused on hydropower in Africa and Central America.

Federico Fernández has a Master's Degree in Business Administration with an emphasis in Banking and Finance and a Bachelor's Degree in Industrial Engineering.
He has extensive experience in the banking and financial sector. He has worked at Norfund for 9 years leading debt and equity transactions in the region. He currently works as regional director for the company for Latin America. Norfund is the Norwegian Investment Fund for developing countries, whose mission is to create jobs and improve lives by investing in companies that drive sustainable development. Norfund is owned and funded by the Norwegian Government and is the Government's most important instrument for strengthening the private sector in developing countries and reducing poverty.

In the banking area, he served as Regional Manager in capital markets and corporate banking for RBTT Merchant Bank and was Finance Manager for Banco Improsa in Costa Rica.

Since 2006 he is the Regional Director for Norfund in Latin America, heading a team who has invested and manages a portfolio in the above-mentioned sectors.

He has a master’s degree in Economics of Money Banking and Finance from the University of Shefield in the UK. He also has two bachelor’s degrees from the University Texas at Austin. One in Business Administration with focus in Finance, and the second in Economics.

In 1968 Terry received his BA in Economics and Commerce from the Royal Military College, Kingston, Ontario and served as an Officer in the Canadian Armed Forces (Artillery).

In 1975 Terry was awarded an MBA in Finance and International Business from The University of Western Ontario, Canada. Terry is also a Fellow of the Institute of Canadian Bankers and a graduate (Honours) of the Canadian Securities Course.

He joined The Bank of Nova Scotia in June 1975 and spent 34 years with Scotiabank in junior middle and senior management positions in various countries including Canada, Hong Kong, The Philippines, Jamaica, Netherland Antilles and Panama. Departments included International Audit, Credit Adjudication, Ship Finance, Syndicated Loans, Commercial and Retail Banking and General Management. His last position was as V.P. and General Manager of Scotiabank Panama.

After retirement from Scotiabank he served for 5 years on the Board of the International School of Panama and was President. From 2013-2018 he served on the Board and several Committees, Including Audit, of Unibank S.A. a local Panamanian bank. Aside from CIFI Audit Committee he serves as Country Manager for Panama for The Laureola Fund, a Bermuda based Fund focused on investing in Life Settlements.

As Internal Auditor, performs periodic evaluations of the effectiveness of the Corporation´s control system. Performs an ongoing consulting and advisory function to ensure the quality and timeliness of financial statements, as well as compliance with formal obligations with regulators, credit institutions, and other relevant external entities. He reports directly to the Audit Committee of the Board of Directors.

Carlos is a professional highly oriented towards control, compliance and quality assurance, with more than 30 years of experience in different Latin American countries, in areas such as external and internal audit, including regulatory compliance and risk management in multinational banking, pension investment funds and corporate finance. Additionally, he has held financial management positions in mass transportation companies and regional comptroller positions in higher education institutions in Central America.

He holds a degree in Public Accounting from Universidad Central de Colombia, a specialization in Financial Law from Universidad de Los Andes in Colombia, as well as a diploma in International Financial Reporting Standards from Universidad UNESCPA. He has an ISO 9000 internal quality auditor certification and training in accounting and technical aspects of financial derivatives.

He joined CIFI in 2018 as Corporate Compliance Officer, assuming Internal Audit in 2020.

Alison Harwood is working to promote sustainable finance and investing with impact. She is a Senior Fellow in Residence at the Milken Institute on mobilizing private capital to finance the SDGs and a recognized leader in building capital markets in emerging market countries.

Alison was Global Head of Capital Markets at the World Bank Group where she oversaw an international portfolio of advisory operations to build local markets to finance development. Earlier, Alison was Director of the Capital Markets Practice at the Barents Group LLC and Resident Advisor on financial sector reform with Harvard’s Institute for International Development in Indonesia. She began her career at the Federal Reserve Bank of New York.

Alison has published and is a frequent speaker on emerging markets and sustainable finance. She is on the board of CIFI, on the Securities Markets Advisory Board and program leader on sustainable and green finance at the Toronto Centre, and on the Kenyan CMA’s advisory panel. She has an M.B.A. and master’s in international Affairs from Columbia University.

Judith de Barany was initially nominated to CIFI’s Board by the International Finance Corporation (IFC/ World Bank), where she had formerly worked as Advisor in Washington D.C. Previously, she founded and ran a fund advisory business based in Europe. Before that, she led international private banking teams at JP Morgan, Bank of Boston, and Bankers Trust in New York.

Judith holds an M.B.A. from Harvard Business School and a B.A. in Economics from Wellesley College. Fluent in English, Spanish, Portuguese, French, and Hungarian, she is a dual Venezuelan/Hungarian national. She is also on the Board of Directors of Agua Imara; a Norwegian renewable energy company focused on hydropower in Africa and Central America.

Is an investor and senior executive with over 20 years of international experience in telecoms, capital markets and investment banking. He has as well a long experience as a Non-Executive Board Member in various financial institutions in Brazil, Africa and Latin America. He is currently a Senior Advisor in Portugal for JB Capital, a leading Spanish investment banking boutique, as well as Board Member in two institutions:
CIFI S.A. and Restoque S.A., one of the main fashion retailers in Brazil and listed in the São Paulo stock exchange (B3).

Until early 2020 he was the CEO of CaixaBI, one of the main investment banks in Portugal and a subsidiary of CGD Group, the State-owned banking group.

Previously he was a senior executive for Portugal Telecom Group in Brazil, as M&A and Business Development Director at Vivo and as the CFO and EVP of Primesys. After that he moved to London to join Dynamo Capital as a Senior Investment Analyst and Partner until 2009, when he leaves to co-found and manage an emerging market focused hedge fund.

In 2012 he joins Caixa - Banco de Investimento, S.A., one of the main investment banks in Portugal, as a member of the Executive Team and is promoted to the CEO position in 2013.

Mr. Saldanha e Souza holds a degree in Economics and Finance from Nova School of Business and Economics (1993) and an MBA from University of Virginia Darden School of Business (1999).

César Cañedo-Argüelles is a founding member of CIFI (2001) and has served as general director since 2015.
In this position he has led the growth and expansion of the company, as well as the constant development of its management team and all associates.
He is a business visionary who has made CIFI a leading player in the financing of infrastructure projects with sustainable impact in the region, as well as a relevant player in the capital market.
Within CIFI, César has been Director of Business Development and Director of the Structured and Project Financing team. As CIFI's helmsman, César has led the company to significant successes.
Managed to stabilize annual business volume in financial advisory services at 7 million US dollars. It also led it to increase its assets under management (including loan portfolio and funds) to US$600 million.
During its leadership CIFI has achieved the diversification of financing sources until it became a bond issuer in Panama, El Salvador, Honduras, Costa Rica and Colombia.

Under the management of Cañedo-Argüelles, CIFI also launched new products in the region. For example, the creation of the fund management branch, through the subsidiary CIFI Asset Management, achieving the first fund in local currency in the Dominican Republic equivalent to US$ 280 million, additionally the creation of a securitization program of US $100 million with the Pension Funds in El Salvador.
It is currently in the process of raising a sustainable infrastructure fund of US$300 million and a local currency fund in Brazil equivalent to US$100 million.
It should be noted that during the last 4 years the company has given a stable return to the shareholder above 8%.

Before joining the foundation of CIFI, César was already developing professionally in the financial, infrastructure and investment banking sectors. He was CFO (1999-2001) and Director of International Business Development (1994-1999) at PROINTEC, an infrastructure engineering and consulting company. There he left his mark on the development of a dozen successful projects throughout Latin America, Asia and Africa. He was passionate about implementing and managing large energy, transportation, telecommunications, water and capacity development projects. had the vision of bringing the financing of similar structures and projects to the middle market in Latin America and the Caribbean.

Fabio Arciniegas, as COO, oversees all business level risks (credit, market, liquidity, compliance, reputational, operational, legal and E&S), including distressed assets. He is also in charge of day-to-day operations support, including back-office, accounting and IT.

He is a member of the Pipeline, ALCO and Credit Committees, and secretary of the CIFI Risk Committee.

Fabio is a decisive, action-oriented and results-driven senior executive with over 25 years of experience in multi-diverse environments, including banking, infrastructure, energy and manufacturing industries.

He is a team leader with a proven ability to effectively achieve objectives through sound management, effective leadership and analytical skills, with proven success in mitigating risks in companies with leverage issues in Latin America.

He holds a PhD in Statistics and a Master's degree in Operations Research and Infrastructure Management from Rensselaer Polytechnic Institute, and a Bachelor's degree in Civil Engineering from Universidad de los Andes (Colombia).

He is certified as a Financial Risk Manager (FRM) by the Global Association of Risk Professionals (GARP), and as a PMP by the Project Management Institute. He was also a member of the Risk Committee at the Panama Banking Association (2012-2015), where the Committee oversaw the analysis, discussion and negotiation of the new Agreement No. 4-2013, which established all regulation related to credit risk management, from origination to credit reserves and credit risk models, following Basel II.

Joined CIFI in 2016 and became a shareholder of Valora in 2019.

Jose H. Salaverria T. is a seasoned corporate, finance and transactional attorney, with extensive experience in cross-border transactions in the energy and infrastructure sectors in Latin America and the Caribbean.

He is a member CIFI’s founding team, since 2002 when he joined the company as Legal Advisor. He became General Counsel in 2012, where he is responsible for directing all legal affairs of the company and managing its legal department.

During his tenure at CIFI he has led and overseen the structuring, negotiation, closing and monitoring of more than $1.5 billion worth of assets, all its liabilities in both the syndicated loan and capitals markets, while leading CIFI’s corporate and regulatory matters (including advising on audit, budgeting, compliance, employment, governance, investor presentation, litigation, securities and tax planning matters). Since January 2021, he is a member of its Credit Committee. Prior to joining CIFI, between 1996 and 2001, he was an Associate at Torres, Plaz & Araujo, a well-known corporate and tax law firm in Caracas, Venezuela, where he advised multinational corporations doing business in the country. In 1998 he was seconded as in-house legal counsel to EPIC, Exploración & Producción, Entidad de Inversión Colectiva, an affiliate of PDVSA, to lead its legal department in the initial public offering of shares valued at $450 million in the capital market in Venezuela and New York (then the largest IPO in Venezuela).

He holds a Master of Business Administration (2003) from Kogod School of Business, American University, Washington, DC.; a Master in International Commercial Law (LL.M) (1995) from the George Washington University, School of Law, Washington, DC.; and a Juris Doctor (1992) from Universidad Central de Venezuela, School of Law, Caracas, Venezuela.

Juan Pablo Moreno was appointed an independent member of CIFI’s Credit Committee in early 2019. Mr. Moreno has over twenty years of experience in financial risk management. He is currently the Portfolio Risk Analytics Director at Freddie Mac leading a risk team overseeing the Single Family and Multifamily portfolios.

Previously, he was the Vice-President and Director of the Investment Risk area in Legg Mason Asset Management. Mr. Moreno worked for us for ten years and was our former Chief Risk Officer, responsible for the development of and compliance with our risk management policy and risk tolerance levels, including environmental and social risks.

He is a licensed Professional Risk Manager from PRMIA. Mr. Moreno has a Master of Science in Finance from the George Washington University and a Financial Engineer title from Columbia University, NY.

Ana Maria Vidaurre has 24+ years of professional experience with extensive track record in sustainable investments, development finance, and public-private partnerships.

She is currently the Head of M&A Renewables for Spain’s Cepsa and is supporting the company in its energy transition. Prior to that she was a Senior Advisor for Sonnedix, a global solar power producer and she also served as Managing Director and for the financial advisory firm Rubicon Capital Advisors.

Previous functions include Managing Director and Head of Infrastructure Investments in Latin America for the Caisse de dépôt et placement du Québec (CDPQ) in Montreal. Under such role, she was responsible for defining the investment strategy and the deployment of capital in infrastructure in Latin America for Canada’s second largest pension fund manager.

She also served under different roles at the Inter-American Development Bank (IDB) and at CAF Latin American Development Bank, where she led the origination and structuring of infrastructure project financings across Latin America.

Ms. Vidaurre is a multicultural professional, with residences and education in Venezuela, France, the U.S., Canada and Spain. She is fluent in Spanish, English, French, and proficient in Portuguese. She has several boards, including Mexico’s Conmex road and Kino renewable energy holdings in Mexico.

Ana Maria holds a Bachelor’s of Business Administration from Universidad Metropolitana in Caracas, Venezuela, and an MBA from ESSEC Business School in Paris, France.

Banker with extensive experience from structured debt transactions across multiple industries and geographies. Deep understanding of global power markets and the full suite of renewable technologies. Proven track record within credit risk assessment and tailoring financial solutions that meet corporates need. Have worked extensively with alternative sources of risk capacity like multilateral banks and export credit agencies. Management responsibility for a global project finance organization. Educational background includes a MSc in Industrial Engineering and Management and an MBA in International Business.

Javier Escorriola has over 26 years of experience investing in wide range of sectors including infrastructure, renewable energy, and financial sector. He has experience in managing portfolios and teams out of different locations including Costa Rica, United Kingdom and United States.

During this tenure Javier has been member in over 40 Board of Directors. He currently sits in 10 boards including private equity funds, microfinance funds, fintech funds, financial institutions and one NGO where he is chairman of the board in 4 of those. One of those highlighted is his Chairmanship of CIFI .

Since 2006 he is the Regional Director for Norfund in Latin America, heading a team who has invested and manages a portfolio in the above-mentioned sectors.

He has a master’s degree in Economics of Money Banking and Finance from the University of Shefield in the UK. He also has two bachelor’s degrees from the University Texas at Austin. One in Business Administration with focus in Finance, and the second in Economics.

Pertti Nurmio is a Finnish citizen with a Master of Laws degree from the University of Helsinki and PMD from Harvard Business School.

Pertti is a chairman and managing director of Investoole Oy, family company focusing in private debt-and equity related advisory and consulting. He worked for almost two decades as a private equity investor, responsible for the management and administration of several private credit funds, most recently in Armada Mezzanine Capital Oy. He was one of the founders of the company. Prior to Armada, Pertti was a senior partner and head of mezzanine at Eqvitec Partners Oy. Nurmio also has a long career as a corporate banker in two of the leading Nordic banks, SEB Merchant Bank and Union Bank of Finland including assignments in Singapore and New York.

Pertti is a board member of Korkia, a Finnish asset management firm focusing in sustainable development and senior adviser to Certior Capital, an alternative investment fund manager focusing primarily in European smaller private credit funds and co-investment activities. He is also a member of Finnfund's Investment Committee.
Besides his mother tongue Finnish, Pertti is fluent in Swedish and English. His hobbies include tennis, golf and gardening. He is married with a grown-up son.