Fierro Group

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The IF Group also known as Grupo Iberoamericano de Fomento or Grupo Fierro is an economic group, originated in Spain, that has investments in Spain and Latin America, mostly in the industrial and financial sectors. The Fierro Group was founded by the Spanish entrepreneur and billionaire , a prominent Spanish businessman. The group is worth over US$4 billion with an annual net income in excess of US$300 million.^{[citation needed]}

They started operations in Peru in 1961, when they installed a factory of matches, a product in which they are a world leader.^{[citation needed]} In 2001 the Fierro Group in Peru was led by and consisted of 18 companies, including (BIF), , , Aval, Representaciones Alpamayo, Filtros del Perú, Destilería Peruana, , , Verona Trading and Fosforera La Llama, employing around 5,000 staff between them.

In 1991 in Venezuela, the group owned Tabacalera Nacional (TANASA), today owned by Philip Morris, , Alimentos La Giralda, and . Nowadays, Fierro Group in Venezuela (also known as : ) has the first place of share market on match industry sales being also owners of different companies such as FOSUCA and DIFSA. Fierro Group companies had Factories such as and Alimentos La Giralda which produce and distribute different manufactured goods related to liquors and canned food. Its most recognized brands are , La Giralda, Ponche Imperial, Ruskaya, , among others.

In Ecuador, on October 24, 1958 Ignacio Fierro founded the company Fosforera Ecuatoriana S.A. (FESA) since then other companies were created: Tabacalera Nacional S.A. (Tanasa), acquired fully by Philip Morris in 2005, Banco Internacional, Seguros Cervantes, Grafandina S.A., Industria Licorera Iberoamericana S.A. (ILSA),^[1] PetroSud (Consorcio PetroSud-PetroRiva). In 2008 the leader of the Fierro Group in Ecuador was José Enrique Fuster Camps.

In August 2013, Francisco "Paco" Roche Navarro retired as leader of the Grupo IF banking division. Ex-BBVA Vicente de la Parra was brought in to lead the banking division. The Banks are composed of Banco Exterior (Venezuela), Banco Internacional (Ecuador), EBNA Bank (Curaçao), Interbanco (Guatemala), International Finance Bank (United States) and BanBif (Peru).

International presence[]

• Spain
• Argentina
• Brazil
• Colombia
• Guatemala
• Ecuador
• Peru
• Thailand
• Venezuela
• The United States of America

References[]