Mr. Francisco Sierra Fábrega is a Panamanian executive with experience in the fields of banking and finance. He holds a Bachelor’s degree in Business Administration, specializing in Finance and International Administration and a concentration in Economics from Georgetown University (Washington, D.C., United States) Cum Laude in 1986. In 1990, Mr. Sierra earned his Master’s degree in Business Administration from the University of Texas in Austin, where he also graduated with honors in recognition for his academic excellence.
In 1986, Mr. Sierra joined Banco General, S.A., currently the largest private bank in Panama, as Credit Officer. He occupied different positions in the bank, including: Deputy Manager for Treasury and Finance in 1990, Treasury and Finance Manager in 1991, Vice President for Treasury and Finance in 1992. In 2000, Mr. Sierra was appointed as Executive Vice President for Finance and in March 2018, as Executive Vice President and Deputy General Manager, positions he has served to the present date.
During his 28-year professional career, Mr. Sierra has contributed to the consolidation and growth of Banco General, currently regarded as the leading bank in Panama by prestigious publications such as Global Finance, Euromoney, Latin Finance and The Banker. Among his accomplishments are having led the process whereby for the first time, a private Panamanian bank earned an international investment grade and having issued bonds in the international capital markets. Similarly, he led negotiations and processes in several major mergers and acquisitions, such as Bancomer, Bank Boston, Procesa, ProFuturo and Banco Continental de Panamá.
In addition to his experience in banking and finance, Mr. Sierra is the director of other local companies: Director (1995) and President (May 2003) in ProFuturo – Administradora de Fondos de Pensiones y Cesantía, S.A. and BG Valores (since June 2007); Fondo General de Inversiones (since October 2007), Promarina, S.A. (since October 2013), Plastiglas Holding, Co. Inc. (since June 2006), Director of Medcom Holdings, Inc. (from 1995 to 2014) and Cable Onda (from 1996 to 2014). He is partner and director in several real estate development companies.
Since 1995, Mr. Sierra has been a member of the Panamanian Association of Business Executives (APEDE). He is founder and member of the Excellence Scholarship Advisory Committee of Banco General, S.A., which grants a scholarship to outstanding public schools’ students so they can attend private high schools.
Due to his distinguished career and moral values, Mr. Sierra has been invited to collaborate with the National Government as an ad-honorem advisor on several occasions. From 2009 to 2011, he was a member of the Investment Grade Committee of the Republic of Panama which collaborated with the Ministry of Economy and Finance in the process to obtain an investment grade credit rating by Fitch Ratings (March 23, 2010), Standard & Poor’s (May 25, 2010) and Moody’s (June 9, 2010); and to the Advisory Commission of the Sovereign Wealth Fund for the Republic of Panama in 2012.
He has been Minister-Counselor of the Republic of Panama since July 1, 2014, and participates as an ad-honorem member of the Board of Directors of Empresa de Generación Eléctrica, S.A. (EGESA) [Power Generation Company]; the High Level Presidential Commission Against Money Laundering, Financing of Terrorism and Financial Provision for the Proliferation of Weapons of Mass Destruction (CPAN), and the Foreign Relations Council as Ambassador Extraordinary and Plenipotentiary.
On March 16, 2016, Mr. Sierra was ratified by the National Assembly as Board Member of the ACP Board of Directors for the period 2016-2025.