Banesco USA Appoints Alvaro Morales And Carlos Eduardo Escotet To Its Board Of Directors

February 2, 2021 12:35 PM EST

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MIAMI, Feb. 2, 2021 /PRNewswire/ -- Banesco USA announces the appointment of Alvaro Morales and Carlos Eduardo Escotet to its Board of Directors.

"We are thrilled to have them join and bring such unique expertise and diverse backgrounds in global banking and business innovation, which are so closely aligned to our mission of providing the best, safest and most convenient banking experience to our customers," says Carlos Palomares, Chairman of the Board of Banesco USA.

Alvaro Morales brings over 22 years of experience in private banking, wealth management, and international markets in several countries that include President & CEO of Banco Santander International in Miami and also executive positions in Santander Group, Banco Urquijo, Banque Indosuez, and Manufacturers Hanover Bank. Recently he ventured into the fintech space by launching a wealth management platform that specializes in investment data aggregation and performance reporting.

Carlos Eduardo Escotet is currently leading a real estate investment fund targeting commercial real estate and multi-family segments in the United States. His experience offers extensive history with Banesco Group since 2011, designing and implementing new products and innovations that led to highly successful revenue and growth business generators. As a new member of Banesco USA's board of directors, Mr. Escotet lends his expertise to digital acceleration and real estate to further the accomplishment of Banesco USA's initiatives.

They join a board of directors that includes Carlos Palomares, Juan Carlos Escotet Rodriguez, Miguel Angel Marcano,  Juan Carlos Escotet Alviarez, Seno Bril, Francisco J. Paredes, and Mario Oliva.

Founded in 2006 and based in Miami, Banesco USA is an independent Florida state-chartered bank ( with $1.94 billion in assets as of December 31, 2020. The Bank provides services to consumers and commercial businesses and has five branches in South Florida: Coral Gables, Doral, Hialeah, Aventura and Brickell; and one in San Juan, Puerto Rico. Banesco USA recently acquired a new headquarter building where it will be moving its entire team of over 200 employees. For more information, visit

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