The Board of Directors of the Panama Savings Fund (FAP) announced the appointment of Enrique Ho, current Investment and Risk Manager, as Technical Secretary and Interim Executive Director, effective December 4, 2025. This decision comes in the wake of the resignation of Abdiel Santiago, who held the position for the past 11 years. The position will be temporary while the process to select his permanent successor is carried out, in accordance with the law. The executive team will continue to execute the Fund's legal mandate, focused on preserving and growing national savings and strengthening the capacity to respond to natural disasters. The Panama Savings Fund (FAP), created by Law 38 of 2012, operates as the state's savings mechanism and as a reserve to address emergencies declared by the Cabinet or moments of economic slowdown. FAP indicated that during this period, no changes are expected in investment policies or risk management processes. The President of the Board of Directors, Mario R. Amaya, stated that the appointment ensures operational continuity during this transition phase and reiterated his recognition of the work of Abdiel A. Santiago, who will support as an honorary strategic advisor. In parallel, the Board of Directors will begin hiring a specialized firm to conduct a competitive, local, and international search to identify candidates for the position of Technical Secretary and Executive Director.
