ECUADOR - Finance
General Manager, Fiduciaria Atlántida
Juan Francisco Andrade holds a law degree from the Catholic University of Quito and a graduate degree in financial law and securities from Universidad Andina. His management studies include an MBA from IDE Business School in Madrid and the senior management program from INCAE Business School in Costa Rica. He started his career as a corporate lawyer in Quito for two of the most prestigious law firms in Quito, then as a legal counsel to prestigious trust fund administrators. He currently holds the position of CEO of Fiduciaria Atlántida Fidutlán Administradora de Fondos y Fideicomisos S.A.
Juan Francisco Andrade is General Manager of Fiduciaria Atlántida.
After 100 years’ experience under its belt, what attracted Grupo Atlántida to the Ecuadorian market?
Grupo Atlántida was interested in investing in Ecuador for many years, but were concerned about political and economic stability; however, they recently took a new interest in Ecuador and are now much more involved with the country and its future. The evaluated the opportunities to invest in our economy that have very strong enterprises in a dollarized economy, being able to generate financial products with high added value. Within the group, Fiduciaria Atlántida is the manager of trusts and funds. We closed 2021 with 250 trusts and approximately USD350 million in assets under management. This is an excellent result, considering that we have been in the market for four years.
What projects are you carrying out to innovate through your clients’ data?
Right now, we are completing one of the most advanced technological tools related to trusts and the fulfillment of obligations given by our settlers in Ecuador. The processes and the technology used allowed us to have proper and relevant information. In the funds industry, even though we have a participation between 2-3% of the market, we have a growth of over 100% per year, with assets under management of around USD25 million. We work extensively with technology to allow people to experience working with Fiduciaria Atlántida. We expect to have great years ahead.
What trends are you seeing in Ecuador in terms of escrow and real estate investment?
We are currently seeing new opportunities in the market, the rebirth of new products that were being halted. We are expecting legislative changes in the next years. Businesses are changing in Ecuador. In the past six months, we have been working with individuals in real estate market who are seeing Ecuador as a destiny of investments specially from our neighbors Peru and Colombia.
ECUADOR - Real Estate & Construction
General Manager, Uribe & Schwarzkopf (US)
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