Corporate Governance

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

 

 

Principles

These principles are the basis of action for all SURA employees and are the essence of our corporate culture:

Equality

This is defined as a fair and balanced treatment in our work, business, and/or civic relations with our employees, consultants, shareholders, clients, suppliers, and the community at large. Equal treatment for all, regardless of their social, economic, racial, sexual, or gender status.

Respect

Recognizes the value of every individual, and takes into consideration their different points of view, needs, and opinions. This involves recognizing others and accepting them as they are.

Responsibility

The unequivocal purpose of fulfilling our commitments, protecting the assets of the company as well as those of our shareholders, clients, suppliers, and the community at large. 

Transparency

This is defined as clarity and rectitude in all actions and relations with employees, consultants, brokers, shareholders, clients, suppliers, and the community at large.

Shareholders

SURA Asset Management is an affiliate of Grupo SURA, which owns 83.5% participation. It has other minority shareholders such as Caisse de dépôt  et placement du Québec (CDPQ) and Grupo Bolívar.

•    Grupo SURA 83.58%
•    Grupo Bolívar 9.74%
•    CDPQ 6.68%

 

EN Composición accionaria de SURA Asset Management:

Grupo SURA

Grupo de Inversiones Suramericana - Grupo SURA is the holding company for the financial conglomerate SURA-Bancolombia, which is present in 11 Latin American countries. Its strategic focus is on financial services: insurance, pension funds, savings, investments, asset management, and banking, through its affiliates Suramericana and SURA Asset Management, and as a major (noncontrolling) shareholder of Bancolombia. Grupo SURA is traded in the Colombian stock exchange (Bolsa de Valores de Colombia - BVC) and is registered with 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 that is included in the Dow Jones Global Sustainability Index (DJSI), which recognizes the 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).

SURA

Grupo Bolívar is a business group with a multi-Latin focus that has been in existence for over 70 years, and consists of companies from different sectors, such as insurance and construction, that are highly recognized in the market for their soundness, tradition, and strict compliance with applicable laws.

Bolivar

CDPQ

Caisse de dépôt et placement du Québec (CDPQ) is an institutional investor that manages mostly public and para-state funds, and insurance solutions. As of June 30, 2018, its net assets were CAD308.3 billion. As a major institutional fund administrator, CDPQ invests globally, mostly in financial markets, private capital, infrastructure, real estate, and private debt.

Board of Directors

The Board of Directors is the highest administrative body and acts according to the shareholders’ rights. This body ensures the company’s sustainable growth and defines, together with the management team, SURA Asset Management’s strategy.

SURA Asset Management has a high-profile Board of Directors, in keeping with the highest international standards and the directives set forth in our Good Corporate Governance Code.
The Board of Directors consists of 7 principal members and their personal alternates, elected by the general shareholders assembly for two-year terms, and may be reelected or freely removed at any time by the General assembly.
 

Main members of the board of directors

PrincipalAlternate
​David Bojanini GarcíaRicardo Jaramillo Mejía
​Tatyana Orozco de la CruzJuan Luis Múnera Gómez
Esteban Iriarte*​Juan Esteban Toro Valencia
Miguel Cortés Kotal​Javier Suárez Esparragoza
​Marianne Loner*​Mónica Guarín Montoya
​​Anita M. GeorgeAlonso García Tames
​​Carlos Muriel Gaxiola*Federico Jaramillo

 

David Bojanini García

Chairman of the Board

David Bojanini García

Chairman of the Board

He is an Industrial Engineer from Universidad de los Andes and holds an MBA with a major in Actuarial Science from the University of Michigan. Since October 2006, he has held the position of President of Grupo de Inversiones Suramericana S.A. Grupo SURA–. He is a board member of Grupo Nutresa, Grupo Argos, Grupo Bancolombia, Suramericana and SURA Asset Management.

Tatyana Orozco de la Cruz

Chief Administrative Officer - Grupo SURA

Tatyana Orozco de la Cruz

Chief Administrative Officer - Grupo SURA

An economist from the Universidad de Los Andes, a Marketing specialist from Universidad del Norte and M.Sc. Development Management of the London School of Economics. She has worked in the National Government of Colombia, as Director of the Department for Social Prosperity (DPS), Director of the National Planning Department (DPN) and Vice Minister of Tourism. She was also Executive Director of the Probarranquilla Foundation and the Barranquilla Port Association, as well as a researcher at Fundesarrollo.

Esteban Cristian Iriarte

Independent Board Member

Esteban Cristian Iriarte

Independent Board Member

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. Since August 2016, he has served as Chief Operating Officer of Millicom for Latin America, an international telecommunications and media company, a company that provides integrated communications services. He is a member of the board of directors of Andesco, Ruta N and Asomovil.

Miguel Cortés Kotal

Miguel Cortés Kotal

A Stanford University economist, CPA (Certified Public Accountant) of California with an MBA in Business Administration) from Harvard Business School, USA. Since April 2011, he has been the CEO of Grupo Bolívar, the Colombian holding of latin business such as Banco Davivienda, Seguros Bolívar, Leasing Bolívar, Constructora Bolívar and Fiduciaria Davivienda. He has worked for this company for over 23 years, during which time he has served as Corporate VP and Financial VP of the Group, among other positions. He is a board member of Bolívar and Davivienda Group, and is part of the Board of Directors of the Fundación Cardioinfantil. 

Carlos Muriel Gaxiola

Independent Board Member

Carlos Muriel Gaxiola

Independent Board Member

He is an Industrial Engineer from the Universidad Iberoamericana of Mexico City. He has an Associate degree in Economics and Business Administration from Austin Community College. 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.

Marianne Loner

Independent Board Member.

Marianne Loner

Independent Board Member.

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. 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. 

Anita M. George

Vice President of Strategic Alliances - Emerging Markets of CDPQ India

Anita M. George

Vice President of Strategic Alliances - Emerging Markets of CDPQ India

She received her university degree in Economics and Spanish at Smith College, Massachusetts. Also, she holds a Master in Economics and an MBA in Finance from Boston University. She is Vice President of Strategic Alliances - Emerging Markets of CDPQ India since 2017. She has served as Senior Director of  Energy and Extractive Industries of the World Bank and Director of Infrastructure and Natural Resources of the International Finance Corporation. She provides the organization with her knowledge of emerging markets and its extensive experience in the management of investment portfolios in global infrastructure.

* Three of the seven main members of the Board of Directors are independent as 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 have the status of Executive of the Company.

 

Board of Directors Regulations Descargar.

General policy for the appointment, remuneration and succession of the members of the Board of Directors ·Descargar.

 

Board of Directors’ committees

The Board of Directors has the following committees for its proper operation. The Board of Directors may create any other committees that are deemed appropriate: 

Comité de Auditing

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 regarding the control and improvement of the activity of the Company and its administrators.

 

Esteban Cristian Iriarte

Miembro Independiente de la Junta Directiva

Esteban Cristian Iriarte

Miembro Independiente de la Junta Directiva

Es licenciado en administración de empresas de la Universidad Católica de Argentina, cursó el programa "Building New Businesses in Established Companies" de Harvard Business School, Estados Unidos, así como el programa "Leaders developing Leaders" de la Universidad de Stanford.

Desde el mes de agosto de 2016 se desempeña como Chief Operating Officer de Millicom para Latinoamérica, empresa internacional de telecomunicaciones y medios de comunicación, empresa que presta de servicios integrados de comunicaciones.

Pertenece a las juntas directivas de Andesco, Ruta N y Asomovil.

Marianne Loner. *

Marianne Loner. *

Carlos Muriel

Carlos Muriel

Compensation and Development Committee

Its main objective is to review and recommend to the Board of Directors, policies, norms and strategic projects of human talent focused on the key processes (selection, evaluation, compensation and development) of senior managers, and other employees of the Company.

 

 

David Bojanini García

Chairman of the Board

David Bojanini García

Chairman of the Board

He is an Industrial Engineer from Universidad de los Andes and holds an MBA with a major in Actuarial Science from the University of Michigan.

Since October 2006, he has held the position of President of Grupo de Inversiones Suramericana S.A. Grupo SURA–.

He is a board member of Grupo Nutresa, Grupo Argos, Grupo Bancolombia, Suramericana and SURA Asset Management.

Marianne Loner. *

Marianne Loner. *

Tatyana Orozco

Tatyana Orozco

Sustainability and Corporate Governance Committee

The Sustainability and Corporate Governance Committee is a management support body that is carried out by the Board of Directors, to which responsibilities are attributed to promote the adoption, monitoring and improvement of the practices and management of the corporate governance of the Company, as well as supporting management and giving management guidelines regarding the sustainability of SURA Asset Management's business.

David Bojanini García

Chairman of the Board

David Bojanini García

Chairman of the Board

He is an Industrial Engineer from Universidad de los Andes and holds an MBA with a major in Actuarial Science from the University of Michigan.

Since October 2006, he has held the position of President of Grupo de Inversiones Suramericana S.A. Grupo SURA–.

He is a board member of Grupo Nutresa, Grupo Argos, Grupo Bancolombia, Suramericana and SURA Asset Management.

Anita M. George

Vice President of Strategic Alliances - Emerging Markets of CDPQ India

Anita M. George

Vice President of Strategic Alliances - Emerging Markets of CDPQ India

She received her university degree in Economics and Spanish at Smith College, Massachusetts. Also, she holds a Master in Economics and an MBA in Finance from Boston University.

She is Vice President of Strategic Alliances - Emerging Markets of CDPQ India since 2017. She has served as Senior Director of  Energy and Extractive Industries of the World Bank and Director of Infrastructure and Natural Resources of the International Finance Corporation.

She provides the organization with her knowledge of emerging markets and its extensive experience in the management of investment portfolios in global infrastructure.

Miguel Cortés Kotal

Presidente

Miguel Cortés Kotal

Presidente

Risk Committee

Its functions are to analyze, evaluate and propose on risk management and administration, and present to the Board the reports and decisions taken.

Ricardo Jaramillo Mejia

Vice President of Corporate Finance [CFO] - Grupo SURA

Ricardo Jaramillo Mejia

Vice President of Corporate Finance [CFO] - Grupo SURA

Carlos Muriel Gaxiola

Independent Board Member

Carlos Muriel Gaxiola

Independent Board Member

He is an Industrial Engineer from the Universidad Iberoamericana of Mexico City. He has an Associate degree in Economics and Business Administration from Austin Community College.

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.

Javier Suárez Esparragoza.​

Chairman member of the risk committee

Javier Suárez Esparragoza.​

Chairman member of the risk committee

Audit Committee Regulations · Download·

Compensation and Development Committee Regulations Download

Risks Committee RegulationsDownload.

Regulations of the Sustainability and Corporate Governance Committee· Download.

Managers

Ignacio Calle Cuartas​

Executive President of SURA Asset Management

Ignacio Calle Cuartas​

Executive President of SURA Asset Management

María Adelaida Tamayo

Vice President of Business and Commercial Development

María Adelaida Tamayo

Vice President of Business and Commercial Development

Carlos Oquendo

Vice President of Corporate Finance

Carlos Oquendo

Vice President of Corporate Finance

Tatiana Uribe

Head of Strategic Development.

Tatiana Uribe

Head of Strategic Development.

Sebastián Rey

Risk Vice President

Sebastián Rey

Risk Vice President

Juan Camilo Osorio

Vice President for Investments

Juan Camilo Osorio

Vice President for Investments

Maurizio Olivares Roncagliolo

Auditing Vice President

Maurizio Olivares Roncagliolo

Auditing Vice President

Catalina Restrepo Cardona

Vice President for Human Resources and Sustainability

Catalina Restrepo Cardona

Vice President for Human Resources and Sustainability

Claudia Urquijo Rodriguez

Vice President of Operations and Technology

Claudia Urquijo Rodriguez

Vice President of Operations and Technology

Joaquín Idoyaga Larrañaga

Legal and Compliance Vice President.

Joaquín Idoyaga Larrañaga

Legal and Compliance Vice President.

Francisco Murillo Quiroga

CEO SURA Asset Management Chile and SURA Asset Management Uruguay

Francisco Murillo Quiroga

CEO SURA Asset Management Chile and SURA Asset Management Uruguay

Juan David Correa*

President - Protección S.A., Colombia

Juan David Correa*

President - Protección S.A., Colombia

Ruth Del Castillo de Solórzano*

President - AFP Crecer, El Salvador

Ruth Del Castillo de Solórzano*

President - AFP Crecer, El Salvador

​Enrique Solórzano

CEO SURA Asset Management México

​Enrique Solórzano

CEO SURA Asset Management México

Jorge Ramos Raygada

CEO SURA Asset Management Perú.

Jorge Ramos Raygada

CEO SURA Asset Management Perú.

* Although these are uncontrolled entities, the information corresponding to AFP Protection and AFP Crecer is included for information purposes, since SURA Asset Management has a relevant participation in both companies.


Ethical Line

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.

To report the case, you can fill out the form you will find or write to us through  [email protected]
REPORT CASE
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