The Director of Business and Marketing 100% Banco, Luis Alfredo Farache, is part of the history of the stock market in Venezuela. With more than 30 years of experience in the stock market, the banker was the precursor of the first bond issue in the Venezuelan Brokerage Firm, with the Floating Rate Notes (FRNs).
At that time, the banker Luis Alfredo Farache was part of the ´Grupo Banco Unión´, where he stayed for eight years, which allowed him to become tanned in the world of banking, in which the first issuance of FRNs by a company stands out Venezuelan in international markets. Important fact that allowed businessmen to issue their bonds on the world's stock markets and Venezuela an important place in international banking.
A floating rate note (FRNs) is a bond that has a variable interest rate, compared to a fixed rate note that has an interest rate that does not fluctuate. As explained by director of portfolio strategy, Leigh Winton, and director of education and research, Elizabeth Morán, while discussing the principles of floating rate notes in the following Youtube video.
Luis Alfredo Farache Benacerraf 100% Banco<div class=”post-tags”>Link de Interés
In short, that part of the history of Venezuela has been left behind with the great economic contraction that the country has suffered in the last decade. Distrust due to the reported acts of corruption within the Venezuelan government has hit the Venezuelan stock market hard.