Corporate Governance

Claudio Zuchovicki has served as President of the Argentine Institute of Capital Markets (IAMC) since 2025 and is a founding partner of Silver Cloud Advisors, a Global Investment Advisory Firm registered under number 474 with the Argentine National Securities Commission (CNV).

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In the academic sphere, he serves as Academic Director of the Finance Laboratory at UADE, while also teaching at the University of Buenos Aires (UBA)-IAMC Capital Markets Graduate Program, the Master’s in Finance at UCEMA, and the Buenos Aires Stock Exchange Foundation. His expertise extends to the media as a columnist for the newspaper La Nación and a regular contributor to current affairs programs on television and radio.

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He holds a Bachelor’s degree in Business Administration from UADE and a Postgraduate degree in Capital Markets from UBA-IAMC. His international training includes specializations in futures and options at the Chicago Board of Trade, agricultural futures at the Chicago Mercantile Exchange, and alternative energy in San Diego. His previous leadership roles include serving as Secretary General of the Ibero-American Federation of Stock Exchanges (FIAB) and as Development Manager at the Buenos Aires Stock Exchange.

Alexander Zawadzki is the Chairman of Caja de Valores, Argentina’s Central Securities Depository, and heads Schweber Securities, where he has held a Board seat since 2008. Additionally, he is a Director and former Vice President of Tecnología de Valores—the research and technology arm of BYMA—and acts as an Alternate Director at the Argentine Institute of Capital Markets (IAMC).

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He holds a Bachelor’s degree in Business Administration from the University of San Andrés. His previous leadership roles include serving as Director and Treasurer of MERVAL (BYMA’s predecessor) from 2015 to 2017, and as a Director of MAV—a specialized exchange focused on factoring, SME and regional financing, and non-standardized financial products—between 2017 and 2019.

Marcelo Menendez currently serves as Chairman of the Board at Grupo SBS, Director of Caja de Valores, and is a founding member of Quicktrade.com.ar. He is a Certified Public Accountant and holds a Postgraduate degree in Capital Markets from the Catholic University of Argentina (UCA).

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In recent years, he served as Chairman of SBS Trading and SBS Asset Management. His previous leadership roles include serving as Director of MERVAL and Banco de Valores —the market’s leading trustee bank—, as well as Counselor and Senior Vice President of the Buenos Aires Stock Exchange (BCBA).

Gabriel Martino is the Founder and Chairman of BFLinvest, a family office established in May 2020 managing a venture capital portfolio across Latin America, the United States, and Europe. He is also a founder and shareholder of Clave and Al Este, regional real estate developments. Beyond his corporate roles, he serves as Treasurer of the Hospital de Clínicas Foundation and is a founding member of Argencon.

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He is a Certified Public Accountant from the Catholic University of Argentina (UCA) and holds an MBA from the Institute for Business Development of Argentina (IDEA).

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He began his career in 1989 as a trainee at Grupo Roberts in Argentina. Between 1990 and 1995, he worked on the Trading Desk, where he was appointed Head of Trading in 1992. In 1996, he was transferred to the United States by Grupo Roberts to establish the group's presence and lead its local Broker-Dealer.

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In 2001, he was appointed Deputy Head of Global Markets at HSBC Argentina, and in 2003, he was promoted to Head of Global Markets, joining the Executive Committee of HSBC Bank Argentina. In 2010, he was appointed to the same position at HSBC Mexico, where he also served on the group’s Executive Committee. In 2012, he was appointed CEO of HSBC Argentina, and in October 2019, he moved to London as Group Managing Director and Advisor to the Group CEO.

Sofia Guidotti is the Managing Director at Oracle for Argentina, Paraguay, Uruguay, Bolivia, and Peru. In this role, she leads the regional digital transformation strategy, driving cloud and generative AI adoption across government, finance, and technology sectors. Her professional journey spans more than 15 years of international experience across high-impact companies.

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Throughout her career, Sofía has been celebrated for her inclusive leadership and people-centered vision. This approach earned her the Global Leadership Award at the Women in Tech LATAM Awards 2024 and a place among the 50 most inspiring women in the world in 2025. Since rejoining Oracle, she has spearheaded an agenda to strengthen organizational culture and empower the partner ecosystem, positioning the company as a vital ally to the public sector.

Roberto Dávola currently serves as Group Head of Corporate Finance at Latin Securities in Uruguay. He holds a Bachelor’s degree in Business Administration from UADE Business School in Argentina and an MBA with a specialization in Finance and International Business from the Leonard N. Stern School of Business at New York University (NYU).

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In recent years, he served as Managing Director at J.P. Morgan Chase Bank in Buenos Aires, leading the Corporate Banking division for Argentina, Uruguay, Paraguay, and Bolivia until January 2019. He also served as a Managing Partner at FR Advisors.

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Previously, he held executive positions at several international financial institutions. His career includes roles as Managing Director and Head of Latin America Debt Capital Markets at J.P. Morgan Securities (New York); Managing Director and Head of Equity Markets and Capital Structure Arbitrage Strategies at Dillon Read Capital Management (New York); Managing Director and Head of Fixed Income and Equity Derivatives Marketing for Latin America at HSBC Securities (New York); Managing Director and Head of Global Equity Linked Products Marketing for Latin America at Merrill Lynch & Co. (New York); and Executive Director and Head of Latin America Equity Derivatives Marketing at UBS Securities.

Silvia Abeledo has served as a Board Member of the Buenos Aires Stock Exchange since 2021 and is a member of the Argentine Association of Fiscal Studies (AAEF).

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She is a Certified Public Accountant from UNLZ in Argentina and holds a postgraduate specialization in Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) from the University of Buenos Aires (UBA) School of Law. She is "Next Board" certified by UCEMA, KPMG, and the Buenos Aires Stock Exchange, and completed the "Boards Creating Value" program at IAE Business School.

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In recent years, she served as a Technical Advisor at the Argentine Tax Authority (AFIP) until July 2024, and as Secretary of the Professional Council of Economic Sciences of the City of Buenos Aires from 2022 to 2025. During this tenure, she was the Coordinating Board Member of the Finance and Capital Markets Commission and Vice Chair of the Legislative Projects Commission. Previously, she served as a Cabinet Advisor at the National Audit Office (AGN), focusing on Privatizations and Regulatory Bodies.

Andrés Edelstein currently serves as a Board Member of Caja de Valores and is the Founding Partner of the consulting firm EMT & Asociados. He is a Certified Public Accountant from UADE Business School in Argentina, holds a specialization in Finance, and earned an MBA from the Kellogg School of Management at Northwestern University.

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In recent years, he served as the National Secretary of Public Revenue and as Undersecretary of Public Revenue. He was also a Board Member of BYMA during the 2019 and 2020 terms, and again since 2024, having chaired the Statutory Audit Committee from 2021 through 2023.

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Previously, he was a Partner at PwC Argentina for over fifteen years, where he led the International Tax practice. He chaired the International Tax and Transfer Pricing Commission of the Professional Council of Economic Sciences of the City of Buenos Aires and served as Vice Chair of its Tax Studies Commission. He was a member of the Board of Directors of the Argentine Association of Fiscal Studies (AAEF) and served on the Advisory Board of AFIP.

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He has co-authored several books on taxation and is a regular contributor to specialized journals and newspapers, with over 300 articles published both nationally and internationally.

Ricardo Torres currently serves as Executive Vice President of Pampa Energía and has been a Board Member since its founding in November 2005. He is also the Chairman of Fiplasto and Citelec, the controlling company of Transener.

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He is a Certified Public Accountant from the University of Buenos Aires (UBA) and holds an MBA from IAE Business School at Austral University.

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He is actively involved in education-related initiatives, serving as the Founder and former Chairman of the Argentinos por la Educación Observatory Foundation. He also serves as Chairman of the María de Guadalupe Foundation and the Alliance Française, and collaborates with the Pampa Foundation and the Diciembre Foundation.

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Previously, he served as Chairman of the Board and CEO of Edenor from March 2012 to June 2021, and as co-CEO of Pampa Energía until December 2016. He was a Managing Partner at Darwin Inversiones and served as a Member of the Board of Directors and CFO of IRSA between 1993 and 2001. Additionally, he taught Taxation and Finance at the University of Buenos Aires School of Economics.

Alberto Ubertone currently serves as Chairman of Ubertone y Cía. He was a Member of the Board of the Buenos Aires Stock Exchange until 2025. In recent years, he served as Deputy Treasurer and Treasurer of the Buenos Aires Stock Exchange between 2019 and 2021.

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Previously, he was the Treasurer of the Board of Directors of Caja de Valores and served as a Director and Chairman of ARFEX.