Abdiel A. Santiago, the secretary of sovereign wealth fund Fondo de Ahorro de Panama (FAP) is stepping down, effective Dec. 4, 2025, as part of a planned transition.
The secretary position at Panama’s FAP is the equivalent to the chief executive and chief investment officer roles. Santiago joined the fund in 2013 as its inaugural secretary, subsequently serving 12 years in the role. Prior to that he was a senior advisor at G2 Capital Advisors and spent seven years as a vice-president at Morgan Stanley.
In addition to his role, Santiago sits on several boards and committee, including the International Forum of Sovereign Wealth Funds, the Milken Institute, and a board leadership fellow at the National Association of Corporate Directors. He also served as an advisory committee member of the Export-Import Bank of the United States and is an alumni council member of the University of Denver.
In a press release, the sovereign wealth fund said Santiago played a fundamental role in the fund’s design and consolidation, noting under his leadership, FAP’s assets grew from about $1.2B to nearly $3.1B.
“On behalf of the Board of Directors, we thank Abdiel for his leadership and significant contributions,” said Mario R. Amaya, FAP’s chair of the board, in the release. “His work as the first Secretary was decisive in laying FAP’s institutional foundations, strengthening our investment frameworks, and safeguarding Panama’s intergenerational savings.”
Although he is leaving the sovereign wealth fund, Santiago has agreed to remain as an unpaid strategic advisor to the Board of Directors and the fund to ensure continuity and support an orderly transition.
