Pilar is one of the pioneers of microcredit in Bolivia, her native country. In 1985 she was one of the founders of the non-profit organization FIE that, after 12 successful years as a microcredit institution, became one of the first organizations in Latin America to take on the challenge of “transforming” its microcredit program as part of a new regulated microfinance company, FIE S.A. under the supervision of the banking authority of the formal financial system of Bolivia.  Pilar Ramirez was President of the Board of FIE S.A. from 1997 to 2006, years in which FIE S.A. continued growing, successfully incorporating other financial services such as savings, money transfers, payment of utilities’ services and taxes, as well as forming strategic alliances with non regulated microcredit organizations unable to mobilize savings.  In 2001, Pilar headed FIE NGO’s team that founded FIE Gran Poder S.A. a microcredit company in Buenos Aires, Argentina, a first experience of transference and adaptation of an institutional technology in microcredit, from one country to another in the same region. Her guidance and knowledge in starting and consolidating microcredit institutions, and in the regulatory environments enabling these developments, has been used in various international consulting activities for organizations such as the IDB, SIDA, Women’s World Banking, ECLOF, MEDA, among others.  Pilar was member and President of the Policy Advisory Group at CGAP. In year 2000 she was awarded the Interamerican Development Bank’s “Award for Excellence in Social Entrepreneurship” and FIE S.A. received this same “Award for Excellence in Microfinance” in year 2001. She has also been a professor in the following Universities: Mayor de San Andrés and Católica Boliviana in Bolivia, Sergio Arboleda in Colombia and Stanford in California, USA.  Pilar Ramirez has a Master of Arts degree in Psychology from The New School for Social Research in New York and a Master in Public Administration from The Kennedy School of Government at Harvard University.
pramirez@locfund.com

Fernando is General Manager of Bolivian Investment Management (BIM Ltd.) enterprise that manages seven investment funds, including LOCFUND. He is also President of the Board of Panamerican Securities, a Bolivian brokerage house. Fernando Sanchez has 13 years of experience managing Investment Funds and in capital markets. He headed the design and launching, as well as forming the executive team of LOCFUND LP and in Carlson Funds Bolivia Facilities, an investment fund for Bolivia.  He is currently a member of the Board in important enterprises in Bolivia. In the past he was in charge of managing various investment portfolios for Panamerican Securities and was an official trader for the Bolivian Securities Exchange. For seven years Fernando Sanchez taught subjects related to finance and the capital markets in different master and bachelor programs in Universidad Católica Boliviana and Universidad Mayor de San Andrés. He has a Master degree in Business Administration from the UCB-Harvard Program, Masters for Development Programs in La Paz, Bolivia and graduated with honors in Economic and Business Administration Sciences from Universidad Gabriela Mistral in Santiago, Chile.
fsanchez@locfund.com

Rodolfo is a Costa Rican economist who has been conducting evaluations and research on rural finance and microfinance organizations and projects in Ecuador, Bolivia and Costa Rica as well as analyzing diverse issues in economic development and global risk assessment.  He has been a consultant in many Latin American countries for international organizations such as The Ohio State University, DAI, RUTA, FAO, IDB, USAID, the World Bank, GTZ and Chemonics.  Until 2004 he worked in Bolivia as development finance specialist and Deputy Director for SEFIR, a financial services project funded by USAID and implemented by Development Alternatives Inc (DAI). SEFIR supported the institutional strengthening of microfinance institutions in their various objectives of growth and innovations so as to consolidate the microfinance industry in that country. The program also gave support to the Superintendence of Banks and Financial Entities of Bolivia and to the creation of a private credit bureau. Before and after his work in Bolivia, he has been associated with Academia de Centroamérica, a research institute based in Costa Rica, where he has participated in numerous research and policy dialogue exercises.  As a consultant he has conducted institutional evaluations, research, trainings and given lectures.  He has also held administrative positions as director, deputy director and regional or country coordinator of a series of technical assistance, research and training projects. Rodolfo Quiros studied Economics in Costa Rica and has a Master degree in Agricultural Economics from The Ohio State University.
rquiros@locfund.com

Martín worked at the Superintendence of Banks and other Financial Entities of Bolivia, initially as a Financial Supervisor and finally as a Market Risk Analyst for the microfinance entities being supervised by this Superintendence. In both positions he was actively involved in the evaluation and approval of equity reinforcement plans and corporate restructuring of microfinance institutions. He was Economic Advisor for the President of the Treasury Commission of the House of Representatives, the main responsibility being the analysis of the economic and financial programs of the government of Bolivia.  As consultant, Martin Barragán worked for Private Financial Fund FIE S.A. a leading regulated MFI in Bolivia; he also worked in Nicaragua for Micro Service Consult GmbH, an international consulting company headquartered in Germany. Martín Barragán was Vice-president of the Board of NAFIBO Sociedad de Titularización S.A. a securitization company in Bolivia. At present he is Shareholder Representative of the Bolivian Stock Exchange. He has microfinance experience in countries such as Colombia, Argentina, Bolivia, Perú, Paraguay and Nicaragua. Martin Barragán has a Master degree in International and Financial Economics from Strathclyde University in the United Kingdom and a degree in Economics from Universidad Catolica Boliviana.
mbarragan@locfund.com

Pedro is an Economist with 29 years of experience in the Bolivian financial system, in various commercial banks. For the last 13 years his professional life has been dedicated to microfinance institutions, as National Operations and Finance Manager of Banco Solidario (BancoSol) and National Finance and Operations Manager of Banco Los Andes Procredit.  He has participated in various technical committees and consulting assignments for ASOFIN of Bolivia (the Association of Financial Entities Specialized in Microfinance), and of ASOBAN (the Association of Private Banks of Bolivia).  Pedro Fardella also participated in the re-launching of the Bolivian Stock Exchange, as Vice President and President of that country’s Association of Brokers.  His academic work includes a professorship in Universidad Católica Boliviana as well as in various seminars in the areas of finance, bank management and operations, internal and risks control.  He is part of the academic team of the Microfinance Program at Centro AFIN in Bolivia, an international center in support of innovations in finance.  This long experience as operator in microfinance, as well as professor and consultant, is now part of LOCFUND’s team in its Technical Support Facility. Pedro Fardella has a Licenciatura in Economics degree from Universidad Católica Boliviana.
pfardella@locfund.com