Management Biographies
Carl Muñana - General Manager
Mr. Muñana began a highly successful career at J.P. Morgan & Co. in 1982, where he served in many positions, including Managing Director and Senior Risk Officer for the firm’s $8 billion Latin America portfolio. He also headed the Mexico investment banking business for five years and capped his career in 1998 with the design of an innovative social investment strategy for the firm.
Later, Mr. Muñana devoted his efforts to impact and innovation initiatives in emerging markets. He worked for several years in Peru in the fields of impact investing, including microfinance, SME fund development, housing finance and social enterprise investment. In the past decade, he has lived in Spain where he has concentrated on the promotion of social entrepreneurship, governance issues and strategic advice to development-oriented organizations globally.He has helped establish and served on several international corporate and not-for-profit boards, including Ashoka’s Spanish affiliate, Voxiva, Inc, and the Microvest Funds.
After graduating in 1978 from the University of Notre Dame with a degree in Classics, he served two years in the Peace Corps, where he piloted a community program for rural health and sanitation in Sierra Leone, West Africa. He earned his MBA at the Kellogg School of Management at Northwestern University.
Steven Reed - Deputy General Manager
Mr. Steven Reed the Deputy General Manager, is responsible for managing the principal operating and support divisions and units of the IIC. Mr. Reed joined the IIC in 1990 from the First National Bank of Chicago where he served in a variety of positions in the United States and Brazil. He joined First Chicago in 1977, after completing two years as Graduate Research Fellow at the University of Pittsburgh Center for Latin America Studies.
Mr. Reed completed his undergraduate studies in economics at the University of Maryland, Baltimore County. He did his graduate work at the University of Pittsburgh, where he earned a MA in Economics, a MA in Public and International Affairs, and a graduate certificate in Latin American Studies.
Jacques Antebi - Chief, Equity and Investment Funds Division
Jacques Antebi is responsible for the IIC’s private equity operations, which include investments in enterprises as well as funds, using equity and quasi-equity instruments. Mr. Antebi also manages the IIC’s investment funds, which include the China-IIC Equity Fund and the Spain-IIC Haiti SME Development Fund.
Prior to joining the IIC in 2009, Mr. Antebi held executive positions as general manager of the Financial Services Division for The Corporate Executive Board Company; as Head of Business Development and Strategy for GE Consumer Finance for Europe, the Middle East, and Africa; and as Vice President in Capital One’s U.S. Card Operations. Until 2002, Mr. Antebi was a partner with McKinsey & Company, serving financial institutions and other sectors on projects ranging from market entry strategies and alliances to streamlining operations and implementing turnarounds. Mr. Antebi began his professional career as an investment banker with Goldman, Sachs & Co.
Mr. Antebi, a citizen of the United States and Mexico, earned a BA from Stanford University and an MBA from the Wharton School of the University of Pennsylvania.
John Beckham - Chief, Operations Division
Since 2009 Mr. Beckham has been IIC’s Chief, Operations Division. As such, he is responsible for all new lending to projects, corporate clients, and SMEs.
Before taking charge of consolidated origination activities, he headed the IIC’s operations with financial institutions, including its first local-currency transaction. Mr. Beckham also led the IIC’s Corporate Projects unit, where he improved the IIC’s ability to lend directly to small companies, enhanced its overall loan processing capacity, and grew the corporate loan portfolio by more than 50%.
Mr. Beckham has worked in international finance since 1991. His wide-ranging experience includes recovery of distressed loans and investments, lending to financial institutions, project finance, and syndications.
Mr. Beckham has a BA from the University of Notre Dame and an MBA from Ohio State University. He has lived in Argentina, Brazil, and Mexico.
Sarah Fandell - General Counsel and Legal Division Chief
Sarah E. Fandell is the General Counsel of the Inter-American Investment Corporation, an independent multilateral organization of the Inter-American Development Bank (IDB) Group that promotes the economic development of its Latin American and Caribbean developing member countries by financing private enterprises. To fulfill its mission, the IIC provides financing in many forms, including direct loans, guarantees, equity investments, lines of credit to financial institutions, and investments in local and regional investment funds. It particularly targets small- and medium-size enterprises that have difficulty obtaining financing from other sources on reasonable terms.
Ms. Fandell joined the IIC in 2001 from a position in the private sector where she primarily represented U.S.-based clients with respect to their investments and projects throughout Latin America, including extensive work related to infrastructure projects and privatization. From 1994 to1995, she also worked as an adviser to the Government of Costa Rica, coordinating negotiations involving foreign investment in natural resources. Fluent in Spanish, Ms. Fandell holds an undergraduate degree from Stanford University (1990) and a law degree from Harvard Law School (1994).
Orlando Ferreira - Chief, Finance and Strategic Planning Division
Orlando Ferreira manages the finance, strategic planning, and information systems’ functions. He came to the IIC in 2006 from the World Bank and the IDB, where he held a number of positions, including Executive Director and Chairman of the Committee of Executive Directors of the IIC. He joined the IDB after 17 years of experience in Paraguay’s construction and financial sectors and eight years as a professor of management and capital markets at the Universidad Nacional de Asunción (UNA).
Mr. Ferreira completed his undergraduate studies in economics at UNA. He holds graduate diplomas, in economics and business, from the Universidad de Santiago de Chile and UNA and also a Master of Science in finance from The George Washington University in Washington, D.C.
Laura Oradei-Bayz - Chief, Portfolio Management Division
Since 2009, Ms. Laura Oradei-Bayz has headed the division responsible for managing existing client relations, both corporate and financial institutions, and for all new lending operations to financial institutions in Latin America and the Caribbean.
Prior to her current position, Ms. Oradei-Bayz served as disbursement officer, as well as investment officer in charge of business promotion and project evaluation activities in the Caribbean and Peru. She also served as member of the IIC’s Credit, Special Operations, Finance, and Procurement Committees.
Prior to joining the IIC in 1998, Ms. Oradei-Bayz worked at Price Waterhouse LLP, which would subsequently become PricewaterhouseCoopers, where she participated in numerous donor-financed projects encompassing the privatization of companies in the telecommunications, food, construction materials, and textile industries, among others. Prior to joining Price Waterhouse, she worked for Ernst & Young LLP, also in consulting and focusing on privatization.
She holds an MBA from The George Washington University and a BS from Georgetown University, both in Washington, D.C.
Rigoberto Ordóñez - Chief, Risk Management Division
Mr. Rigoberto Ordóñez, a citizen of Nicaragua heads the Risk Management Division, responsible for overseeing the loan and investment approval process and its adherence to prudent underwriting practices. The Division is also responsible for monitoring the risk profile of the Loan and Equity Portfolio.
Mr. Ordóñez has over 30 years of experience in finance, he joined the IIC in 1990 from the Central American Bank for Economic Integration (CABEI) in Tegucigalpa, Honduras. He previously worked in Managua, Nicaragua, at the Controller’s Department of Esso Standard Oil, Nicaragua Division, and the Central Bank of Nicaragua, where he served as Finance Manager.
Mr. Ordóñez completed his undergraduate studies in economics at the Universidad Nacional Autónoma de Nicaragua in Managua, Nicaragua, and obtained an MBA with a specialization in finance from The A B Freeman School of Business at Tulane University in New Orleans, Louisiana.
Jorge Pacheco - Chief, Special Operations Unit
Mr. Jorge. Pacheco is responsible for managing the portfolio of impaired loans and equity investments. He enforces the IIC’s rights and preserves its capital via recoveries and restructurings.
Mr. Pacheco joined the IIC in 2001 from EnergyWorks, LLC, an Iberdrola Group company, where he served as General Counsel. He previously worked as an Associate in the Project Finance Department at Fulbright & Jaworski, LLP, a Texas-based law firm.
Mr. Pacheco obtained a law degree (JD) from Universidad de la República Oriental del Uruguay and an LL.M. from American University’s Washington College of Law. He is admitted to practice law in Uruguay, New York State, the District of Columbia, and the U.S. Supreme Court. Mr. Pacheco also holds certificates in business and finance from Instituto de Estudios Empresariales de Montevideo (IEEM), Columbia University Graduate School of Business, and Instituto Tecnológico Autónomo de México (ITAM).
Jorge Roldán - Chief, Technical Assistance and Strategic Partnerships Division
Dr. Jorge Roldán, a Colombian citizen, joined the Inter-American Investment Corporation (IIC) in 1990 and has over thirty years of experience in economic research, economic evaluation of projects, and strategic planning and programming for private-sector development in Latin America and the Caribbean. Before becoming Division Chief of Technical Assistance and Strategic Partnership at the IIC, Mr. Roldán was Finance and Risk Management Division Chief. He also served as IIC’s Chief Economist. Prior to joining the IIC, he was Deputy Treasurer at the Andean Development Corporation (CAF) in Caracas, Venezuela. He had previously been Head of the Development Programs Division of Colombia’s National Planning Department.
Mr. Roldán holds a Doctorate degree in Economics from the Sorbonne in Paris, France, having specialized in economic development and international finance. He also holds a Masters of Science in the same field and a degree in economics from the Universidad de los Andes in Bogota, Colombia.