Through Corporate Governance, SURA Asset Management seeks to create and consolidate a corporate transparency-based culture, setting its actions vis-à-vis stakeholders in a clear ethical, social, economic and environmental commitment.
Aligned to the definitions that, on the subject of Corporate Governance, have been established by Grupo de Inversiones Suramericana S.A. (SURA Group), the Company, its governing bodies and collaborators fully support its management on equity, respect, transparency and accountability principles, which the ethical support encompassing its organizational culture derives from in accordance with applicable regulatory context in each country where it operates.
SURA Asset Management's Good Corporate Governance Code includes guidelines reflecting the philosophy, standards and practices governing the actions of both collaborators and high-management officers.
In addition, under the Good Corporate Governance framework, SURA Asset Management and its subsidiaries have a Code of Conduct and Ethics, which encompass the Corporate Principles - Equity, Respect, Transparency and Accountability -, governing the actions of each individual in the Company, as well as the different government and management instances. This is intended to ensure the Organization at all levels is governed by meeting the highest standards of Corporate Governance and Ethics while ensuring that its commercial actions are aligned with the best business management practices.
Following legal requirements and best practices, SURA Asset Management has the relevant mechanisms in place so that its shareholders’ recommendations can reach the Board of Directors. Likewise, collaborators can submit their concerns or suggestions to the top management through the regular channels in place, such as the Ethical Line and evaluation and feedback mechanisms with their respective leaders.
Code of Conduct and Ethics · Download
Code of Good Corporate Governance - SURA Group · Download
Code of Good Corporate Governance - SURA Asset Management · Download
LAFT Prevention Policy · Download
Policy for fraud prevention · Download
Supplier Code of Conduct · Download
Statutes 2019 · Download
Management Report 2018 · Download
These principles are the basis of action of all SURA employees and are the essence of our corporate culture:
Understood as fair and balanced treatment in the labor, commercial and / or civic relationship with our employees, advisors, shareholders, clients, suppliers and with the community in general. Equal treatment for all people, regardless of their social, economic, racial, sexual and gender conditions.
It recognizes the value of all people and is aware of diverse points of view, needs and opinions. It involves recognizing the other and accepting them as they are.
The unequivocal intention to comply with our commitments, ensuring the assets of both the Company and our shareholders, customers, suppliers and the community in general.
Understood as the clarity and rectitude in all actions and relationships with employees, advisors, brokers, shareholders, clients, suppliers and with the community in general.
SURA Asset Management is a subsidiary of Grupo SURA, which has an 83.5% stake. It has other minority shareholders such as Caisse de dépôt et placement du Québec (CDPQ) and Grupo Bolívar.
Grupo de Inversiones Suramericana - Grupo SURA is the holding company of the SURA-Bancolombia Financial Conglomerate, present in 11 Latin American countries and with a strategic focus on financial services: insurance, pensions, savings, investment, asset management and banking, through its subsidiaries Suramericana and SURA Asset Management, and as the main (non-controlling) shareholder of Bancolombia. Grupo SURA is listed on the Colombian Stock Exchange (BVC) and is registered in the ADR-Level I program in the United States. It is the only Latin American entity in the Diverse Financial Services and Capital Markets sector included in the Dow Jones Global Sustainability Index (DJSI), which recognizes organizations with the best economic, social and environmental practices. In other industries, the Company has investments in Grupo Nutresa (processed foods) and Grupo Argos (cement, energy, and road and airport concessions).
Grupo Bolívar is a business group with a multi-Latin approach that has more than 70 years of existence, made up of companies from various sectors: financial sector, insurance sector, construction sector, among others, which enjoy the highest level of recognition in the market for its solidity, tradition and for its strict adherence to the legislation that is applicable to them.
Caisse de dépôt et placement du Québec (CDPQ) is an institutional investor that manages funds primarily for public and state pensions and insurance solutions. As of June 30, 2018, it had CA $ 308.3 billion in net assets. As a leading institutional fund manager, CDPQ invests globally primarily in financial markets, private equity, infrastructure, real estate, and private debt.
The Board of Directors is the highest management body and acts according to the rights of the shareholders. This body ensures the sustainable growth of the Company and determines, together with the management team, the strategy of SURA Asset Management.
SURA Asset Management has a high-profile Board of Directors, in accordance with the highest international standards and the guidelines established in our Code of Good Corporate Governance.
The Board of Directors is made up of 7 main members with their personal substitutes, elected by the General Shareholders' Meeting for a period of two years, who can be freely re-elected or removed at any time by the same Meeting.
Principal members of the board of directors
| Principal | Alternates |
|---|---|
| Ricardo Jaramillo Mejía | Vacancy |
| Juan Luis Múnera Gómez | Marianella Pulido Tamayo |
| Esteban Iriarte* | Juan Esteban Toro |
| Vacancy | Luis E. García Rosell |
| Marianne Loner* | Carlos González |
| Jordi Tasias | Marc-André Blanchard |
| Carlos Muriel Gaxiola* | Federico Jaramillo |
Chairman Director - Patrimonial Board Member
Training and professional practice:
Mr. Jaramillo holds a degree in Civil Engineer from Escuela de Ingeniería de Antioquia, as well as a MBA majoring in Finance from the Boston University Graduate School of Management.
Since May 1, 2024, he has held the position of President of Grupo SURA. He previously was Vice President of Business Development and Finance of Grupo SURA since April 2016.
Experience in the sector:
Previously he served in Bancolombia Investment Banking in the positions of President, Vice President of Finance, and Project Manager.
Additional Boards of Directors to the SURA AM:
He is currently a member of the Board of Directors of Suramericana, SURA Asset Management, Bancolombia and Grupo Argos.
He is also a member of the Board of Directors of Fundación SURA in Medellin, Private Council of Competitiveness, Fundación Empresarios por la Educación, the Medellin Cultural Association, Medellin Philharmonic Orchestra and EIA University.
Appointment date: March 25, 2021
Independent Board Member
Training:
He holds a degree in business administration from the Catholic University of Argentina, studied the "Building New Businesses in Established Companies" program at Harvard Business School, United States, as well as the "Leaders developing Leaders" program at Stanford University.
Experience:
Esteban is a global business leader with over 23 years of experience in the technology and telecoms industry. Since August 2016 until May 2023, he served as Chief Operating Officer of Millicom for Latin America, an international telecommunications and media company, a company that provides integrated communications services.
Additional Boards of Directors to SURA AM:
He is also an independent member of the Board of Directors of US Cellular in United States and member of its Compensation Committee.
Appointment date: March 14, 2016.
Patrimonial Board Member
Training:
Mr. Munera graduated with a degree in Law as well as a specialization in Commercial Law from the Universidad Pontificia Bolivariana and has earned a Master’s Degree in Comparative Legislation from the University of San Diego in California, United States (on a Fulbright Scholarship). He has studied corporate governance and strategy at Harvard University, U.C. Berkeley, and Northwestern University’s Kellogg School of Business.
Experience in the sector:
Most of his professional career has been spent at Bancolombia and as Chief Legal Affairs and Sustainability Officer at Cementos Argos.
Since August 2017, he has held the position of Chief Corporate Legal Affairs Officer and Company Secretary at Grupo SURA. His main functions are to define and draw up legal and corporate governance guidelines for the Business Group, to legally direct activities and projects in order to protect the reputation and integrity of the Business Group as well as implement a compliance culture that facilitates decision-making based on the Company’s strategic objectives.
Appointment date: on August 23, 2024, he was appointed as a principal member of the Board Directors of SURA AM, however, since March 25, 2021, he served as an alternate member.
Independent Board Member
Training:
He has an Associate degree in Economics and Business Administration from Austin Community College.
Experience in the sector:
He has served as President of Inverlat International Inc., Executive Director of Grupo Financiero del Sureste and Managing Director of Afore Santander Serfín, Mexico. He also had extensive experience at ING Group, where he held the position of CEO of LATAM.
Additional Board of Directors to SURA AM:
He is also an independent director of AFORE SURA, Grupo Financiero Actinver, Alterna Holdings and Grupo COVAF. He is Chairman of the Board of Directors of All Hands and Hearts Mexico, and member of the Board of Directors of All Hands and Hearts International, Cristel House Mexico and independent member of the Board of Directors of Stradata in Colombia.
Appointment date: March 14, 2016.
Independent Board Member
Training:
She received her Cum Laude university degree in Political Science from New York University, United States. She also completed an MBA in International Finance and Business / Economic Development at the same University.
Experience in the sector:
She has developed her professional career, with more than 30 years of experience, in the international banks Manufacturers Hanover Trust Co., of New York; First Chicago, from New York, London and Chicago; and UBS Asset Management, from Zurich, Switzerland.
In these financial institutions, she has held various positions in the Investment Banking, Commercial Loan and Asset Management.
Additional Boards of Directors to SURA AM:
She is also a member of the Board of Directors of Latin American Green Bond Fund SICAV - SIF, in Luxembourg.
Appointment date: July 11, 2013.
Patrimonial Board Member
Training and professional practice:
Jordi Tasias is an economist at the University of Barcelona. He joined CDPQ at the beginning of 2018 and since 2021 he has served as General Director of the CDPQ's subsidiary in Mexico, and is in charge of the CDPQ's institutional relations in Latin America, excluding Brazil. Also, Jordi, currently based in New York, is part of the Americas Private Equity team, being responsible for investments in LATAM and diversified sectors.
Experience in the sector:
Jordi Tasias has solid professional trajectory in Investment Banking and Private Equity. He has experience in multiple sectors such as healthcare, financials, services, real estate, technology, consumer and infrastructure in Europe and Latin America.
Additional Boards of Directors to SURA AM:
He also belongs to the Boards of Directors of Laboratorios Sanfer and Grupo Diagnóstico Aries in Mexico, Acces Lab and Wizeline in the United States, Canadian Council for the Americas and GRI Mexico.
Appointment date: March 25, 2021.
* Three of the seven main members of the Board of Directors are independent because they are not related to the shareholders, or to any company related to SURA Asset Management S.A.
None of the members of the Board of Directors holds the quality of Executive of the Company.
Board of Directors Regulations · Download
General policy for the appointment, remuneration and succession of the members of the Board of Directors · Download
The Company's Board of Directors, for its good performance, has the following Committees, which account for each of the activities they carry out. The Board may define the creation of other Committees that it deems appropriate:
The purpose of this committee is to support the Board of Directors in monitoring the management and effectiveness of the Internal Control System, for decision-making in relation to the control and improvement of the activity of the Company and its administrators.
Committee Chairperson - Independent Committee Member
Independent Committee Member
Independent Committee Member
Its main objective is to review and recommend to the Board of Directors, policies, standards and strategic projects for human talent focused on the key processes (selection, evaluation, compensation and development) of senior managers and other employees of the Company.
Chairman Director - Patrimonial Board Member
Training and professional practice:
Mr. Jaramillo holds a degree in Civil Engineer from Escuela de Ingeniería de Antioquia, as well as a MBA majoring in Finance from the Boston University Graduate School of Management.
Since May 1, 2024, he has held the position of President of Grupo SURA. He previously was Vice President of Business Development and Finance of Grupo SURA since April 2016.
Experience in the sector:
Previously he served in Bancolombia Investment Banking in the positions of President, Vice President of Finance, and Project Manager.
Additional Boards of Directors to the SURA AM:
He is currently a member of the Board of Directors of Suramericana, SURA Asset Management, Bancolombia and Grupo Argos.
He is also a member of the Board of Directors of Fundación SURA in Medellin, Private Council of Competitiveness, Fundación Empresarios por la Educación, the Medellin Cultural Association, Medellin Philharmonic Orchestra and EIA University.
Appointment date: March 25, 2021
Independent Committee Member
Patrimonial Board Member
Training and professional practice:
Jordi Tasias is an economist at the University of Barcelona. He joined CDPQ at the beginning of 2018 and since 2021 he has served as General Director of the CDPQ's subsidiary in Mexico, and is in charge of the CDPQ's institutional relations in Latin America, excluding Brazil. Also, Jordi, currently based in New York, is part of the Americas Private Equity team, being responsible for investments in LATAM and diversified sectors.
Experience in the sector:
Jordi Tasias has solid professional trajectory in Investment Banking and Private Equity. He has experience in multiple sectors such as healthcare, financials, services, real estate, technology, consumer and infrastructure in Europe and Latin America.
Additional Boards of Directors to SURA AM:
He also belongs to the Boards of Directors of Laboratorios Sanfer and Grupo Diagnóstico Aries in Mexico, Acces Lab and Wizeline in the United States, Canadian Council for the Americas and GRI Mexico.
Appointment date: March 25, 2021.
The Sustainability and Corporate Governance Committee is a management support body carried out by the Board of Directors, to which responsibilities are attributed aimed at promoting the adoption, monitoring and improvement of the practices and management of the Company's corporate governance, as well as supporting the management and giving guidelines to the administration regarding the sustainability of SURA Asset Management's businesses.
Patrimonial Board Member
Training and professional practice:
Jordi Tasias is an economist at the University of Barcelona. He joined CDPQ at the beginning of 2018 and since 2021 he has served as General Director of the CDPQ's subsidiary in Mexico, and is in charge of the CDPQ's institutional relations in Latin America, excluding Brazil. Also, Jordi, currently based in New York, is part of the Americas Private Equity team, being responsible for investments in LATAM and diversified sectors.
Experience in the sector:
Jordi Tasias has solid professional trajectory in Investment Banking and Private Equity. He has experience in multiple sectors such as healthcare, financials, services, real estate, technology, consumer and infrastructure in Europe and Latin America.
Additional Boards of Directors to SURA AM:
He also belongs to the Boards of Directors of Laboratorios Sanfer and Grupo Diagnóstico Aries in Mexico, Acces Lab and Wizeline in the United States, Canadian Council for the Americas and GRI Mexico.
Appointment date: March 25, 2021.
Chairman Director - Patrimonial Board Member
Training and professional practice:
Mr. Jaramillo holds a degree in Civil Engineer from Escuela de Ingeniería de Antioquia, as well as a MBA majoring in Finance from the Boston University Graduate School of Management.
Since May 1, 2024, he has held the position of President of Grupo SURA. He previously was Vice President of Business Development and Finance of Grupo SURA since April 2016.
Experience in the sector:
Previously he served in Bancolombia Investment Banking in the positions of President, Vice President of Finance, and Project Manager.
Additional Boards of Directors to the SURA AM:
He is currently a member of the Board of Directors of Suramericana, SURA Asset Management, Bancolombia and Grupo Argos.
He is also a member of the Board of Directors of Fundación SURA in Medellin, Private Council of Competitiveness, Fundación Empresarios por la Educación, the Medellin Cultural Association, Medellin Philharmonic Orchestra and EIA University.
Appointment date: March 25, 2021
Its functions are to analyze, evaluate and propose on risk management and administration, and present the reports and decisions made to the Board.
Independent Committee Member
Patrimonial Member of the Board of Directors
Chairman Director - Patrimonial Board Member
Training and professional practice:
Mr. Jaramillo holds a degree in Civil Engineer from Escuela de Ingeniería de Antioquia, as well as a MBA majoring in Finance from the Boston University Graduate School of Management.
Since May 1, 2024, he has held the position of President of Grupo SURA. He previously was Vice President of Business Development and Finance of Grupo SURA since April 2016.
Experience in the sector:
Previously he served in Bancolombia Investment Banking in the positions of President, Vice President of Finance, and Project Manager.
Additional Boards of Directors to the SURA AM:
He is currently a member of the Board of Directors of Suramericana, SURA Asset Management, Bancolombia and Grupo Argos.
He is also a member of the Board of Directors of Fundación SURA in Medellin, Private Council of Competitiveness, Fundación Empresarios por la Educación, the Medellin Cultural Association, Medellin Philharmonic Orchestra and EIA University.
Appointment date: March 25, 2021
CEO
Ignacio Calle Cuartas is a Production Engineer from EAFIT University, he has two Master's degrees, one in Economics from the State University of New York and the other in Administration from the Universidad Pontificia Bolivariana.
He started his career at Suramericana S.A. in 1996, and then went on to Grupo SURA, where he served as Financial and Investment Manager. Later he joined Groupe Casino in France as Vice President of Mergers and Acquisitions for Latin America and International CFO for the subsidiaries in Asia, Indian Ocean and Latin America. In 2012, he rejoined Grupo SURA and served as Vice President of Corporate Finance until April 2016. Ignacio joined SURA Asset Management in May 2016, occupying the position of CEO.
Ignacio Calle is currently a member of the boards of directors of Grupo Crystal, Fundación SURA and AFORE SURA.
Vice President of Human Talent, Sustainability and Communications
Catalina Restrepo is an Administrative Engineer from the Antioquia School of Engineering in Colombia, has a specialization in Finance from the EAFIT University in Colombia and a Master's Degree in Innovation Management from the University of Manchester, England, as well as a Management Program General PDG of INALDE in Colombia.
She started her career at Suramericana S.A. In 2003, she served as Director of Human Management of Suramericana S.A and joined SURA Asset Management in 2012.
She has led the Human Talent and Sustainability team at SURA Asset Management since May 2013.
She is part of the Board of Directors of Asulado Seguros de Vida S.A. in Colombia.
CIO
Juan Camilo is a Civil Engineer from the Antioquia School of Engineering, has a specialization in Project Management from EAFIT University and a Master's in Financial Engineering from the Peter F. Drucker School of Management at Claremont Graduate University. Complementary to this, Juan Camilo has other complementary studies: Fiduciary Investors Symposium at Stanford University, Private Equity Master Class at Harvard Faculty Club and Top Management Executive Program at INALDE Business School.
He has more than 25 years of experience in investment management for the largest pension funds in Latin America and in the asset management industry. Extensive experience leading investment teams and processes, hedging strategies, private markets, portfolio management, asset allocation, quantitative analysis and market risk management.
Juan Camilo is part of the board of directors of AFORE SURA in Mexico and Sociedad Administradora de Fondos SURA in Peru.
Chief Financial Officer (CFO)
Carlos holds an International Negotiation degree from EAFIT University, where he also specialized in Finance. Additionally, he earned a Master’s in Finance from Cass Business School, London, and is a CFA Level III charterholder.
Throughout his career, he has held various financial roles in both financial and retail companies prior to joining SURA Asset Management in 2018.
Vice President of Legal, Compliance, Risk and IT
Joaquín Idoyaga Larrañaga is a Lawyer from the University of the Republic, in Montevideo, Uruguay. He has three master's degrees, one in Business Law (LLM) at the University of Montevideo, in Montevideo, Uruguay, another in Corporate, Financial & Capital Markets Law (LLM) at Columbia University, in New York, United States, and another Business Administration (MBA) at Emory University, in Atlanta, United States.
He began his career as an associate attorney at Guyer & Regules, a law firm in Montevideo, Uruguay, in 2005. He worked as an international associate at the firm Simpson, Thacher & Bartlett, in New York, United States (2010-2011). In 2013 he joined SURA Asset Management Uruguay, where he served as Legal, Compliance & Risk Manager. Subsequently, in May 2016, he joined SURA Asset Management as Vice President of Legal & Compliance, and, he currently holds the position of Vice President of Legal, Compliance, Risk and IT.
Additionally, Joaquín Idoyaga is a member of the boards of directors of AFORE SURA, in Mexico, Fiduciaria SURA, in Colombia, and AFAP SURA, in Uruguay.
Vice President of Audit
Maurizio is a Computer Science Engineer from the Federico Santa María University of Chile and a Master Business Administration from the same University.
He is CIA certified by the IIA (Institute of Internal Auditors) and CISA certified by ISACA (Information Systems Audit and Control Association). He has more than 20 years of experience in auditing and consulting on governance, risk and control matters.
Previously, he served as Corporate Audit Director at SURA Asset Management, IT Audit Manager Latin America at ING Group, auditor-consultant at PriceWaterhouseCoopers and professor of Systems Auditing at the University of Chile
Director of Corporate Development
Felipe Trujillo is a Professional in Finance and International Relations by Universidad Externado de Colombia. He also has a postgraduate degree in Statistics from Universidad Nacional de Colombia. He worked as Market Administration Manager (Derivatives and Fixed Income) in the Colombian Stock Exchange (Bolsa de Valores de Colombia). He has been a part of SURA Asset Management since 2014 working as Corporate Director for Product Development and Investment Standards. He is currently leading the Fund Operators and Innovation Management in the Investment Management Unit.
CEO Savings and Retirement
Commercial Engineer from Universidad Adolfo Ibáñez. He began his professional career in 1985 at Citibank, where he held several positions in the financial area. In 1993, he entered Grupo Santander in Chile; in 1997, he was appointed the General Manager of the Pension Funds Manager of Grupo Santander in Chile.
From 2008 to 2010, he was the Corporate Director of Human Resources and later the Manager of Commercial Banking. As of March 2012, he was the Manager of Human Resources and Media of Grupo Santander, a position he held until he began to work at SURA in September 2013 as the CEO of SURA Chile.
CEO SURA Investments
Licensed in Economy, he has an MBA from the Adolfo Ibañez University in Chile and attended the Kellogg School of Management CEO´s Management Program. He has over 25 years of experience in the investment industry; he began his career in 1999 at AFAP SURA in Uruguay, where he worked for 14 years in the investment platform, in addition to being General Manager of the Company. He also led the creation of the Wealth Management business in the country and since 2013 he assumed the position of CEO SURA Asset Management Uruguay.
In 2019 he became part of the SURA Investment Management team as Executive Director of Distribution, in charge of customer relations and brand management, and since 2023 he has taken the role of CEO of SURA Investments.
President - Protección S.A., Colombia
Computer Science Engineer from Universidad Eafit, specialized in International Business at the same university. In addition, he has an MBA – FSI (Financial Services and Insurance) from Vlerick University, Saint Gallen University and Hec in Montreal.
In the year 2016, he began to work at Proteccion after working at Fiduciaria Bancolombia for 6 years, where he was the President, Administrative VP and Commercial VP. He also held different positions at Fiduciaria Sufibic and Fiduciaria Suramericana.
General Manager AFP Integra
Business Manager graduated from Universidad del Pacífico, with an MBA in IESE Business School. He joined AFP Integra in 1997 and since then he has acted as Manager of Risks and Strategic Planning, Vice President of Investments, Deputy General Manager, amongst other functions. Within the years 2008 and 2010 he was the Vice President of Finances and Risks of ING Pensions and Severance, Pensions Funds Manager of ING Group in Colombia and to this date as General Manager of AFP Integra.
CEO ASULADO life insurances, Colombia
Patricia Restrepo Gutiérrez, before Asulado, was employed at Protección during 9 years as the Vicepresident of Risks and Analitics. Patricia is a Civil Engineer from the Antoquia School of Engineering. She counts with a Master in Administration of Financial Risks from the Simon Fraser University, in Vancouver, Canadá, and a specialization in Administration of Risks, from EAFIT University, She also studied executive education at the London School of Economist, Wharton University and Kellogg School of Management. Within her trajectory of 20 years of experience both national and international, the highlights are TD Toronto Dominion Securities (Toronto, Canadá), Protección, ISAGEN, Delima Marsh and Caja de Compensación Comfama.
CEO AFP Capital
Renzo Vercelli Baladrón holds a degree in Civil Industrial Engineering and an MBA from the UC | Chile.
His extensive career spanning over two decades has been dedicated to the financial industry and investments. Vercelli commenced his investment journey at SURA Seguros de Vida, eventually ascending to the position of Investment Manager. In 2008, he spearheaded the establishment of SURA Administradora General de Fondos in Chile, serving as its inaugural General Manager. Subsequently, in 2013, he led the formation of SURA Corredores de Bolsa, once again assuming the role of the first General Manager.
Since 2018, he has contributed to SURA Asset Management Chile as Vice President of Voluntary Businesses. In July 2023, Vercelli was appointed Country Manager Chile & Executive Director Wealth Management at SURA Investments.
General Manager AFAP SURA
Economist graduated from Universidad de la República, with an MBA in IEEM Business School, he has had a 22-year trajectory where he has gathered experience in diverse industries, such as the financial while also in retail and Technological, with highlighted roles in Citigroup, Tyco International, IBM Uruguay and ING.
In 2012 he was incorporated into AFAP SURA where he has performed roles such as Assistant Manager of Operations and IT, Manager of Management, until 2016 when he was designated as General Manger, it is worth noting that since 2019 he has also taken on the role of President of the National Association of AFAP of Uruguay (ANAFAP).
General Director AFORE SURA
Having over 20 years of experience in the financial sector, he has worked at SURA since 10 years ago and has been employed in different key roles for the business. He was Director of Investments and Asset Allocation, he directed the proyect to renew the investment platform of Afore, and he also was Director of Risks. His most recent responsability was as Executive Director of Finances and Risks, and since 2020 he has taken the role of General Director of Afore SURA.
Our Ethics Line is a confidential and secure mechanism that is available to all our stakeholders to report any situation that threatens the ethical performance of the Company and the corporate principles that our employees must observe.
