With more than 40 years

of accumulated experience in corporate banking, we have successfully completed more than $2B in transactions , with the largest business groups in the region.

Geancarlo Colepicolo A.
[email protected]

Partner & Director of Merge Capital, he has more than 15 years of experience in different industries such as Banking, Services and Retail performing leadership positions.

Prior to founding Merge Capital, he served as Associate Vice President of Corporate Credit at BAC International Bank, in charge of a portfolio of approximately $1.0 B and as Credit Risk Manager at Banesco Panama managing a portfolio of approximately $1.8 B.

He has been a consultant in Corporate Finance, Credit Risk, Project Finance, Funding, Restructuring, in countries such as Ecuador, Costa Rica, Panama. He has participated in processes of mergers and acquisitions, valuation of companies and boards of directors.

He has an MBA from INCAE Business School, and a degree in Finance from the Instituto del Tecnológico de Costa Rica.

Errol O. Álvarez
[email protected]

Partner & Director with 28 years of experience in the financial industry of Panama. Before joining Merge Capital, he served as Corporate and Commercial Banking Manager in different banks such as Multibank, Banco del Istmo, HSBC, Banesco Panama and Banco Panama, forming work teams and managing business areas in different segments from development and commercial banking to large corporations in the commercial, agro-industrial and service sectors; including financing of national infrastructure works. 

Among other functions, he served as project portfolio manager of state housing projects assigned under Trust and was responsible nationally for client banking in the Medium and Small Business segment (approximately 2,000 clients).

He has an MBA and a Postgraduate degree in Business Administration from the University of Science and Technology of Panama, and a degree in Economics from the National University of Panama.

Claudio C. Broce
[email protected]

Partner & Director with more than 15 years of experience in the financial and real estate industry in Panama. Prior to founding Merge Capital, he served as Corporate Banking Manager at Banesco Panama in the construction cluster, managing businesses for over 120 M

He started his career as a Civil Engineer at Empresas Bern, a leader in Panamanian construction, managing projects for over $400M.

Among his other activities, he is the General Manager of CB Ingenieros, a company specialized in Construction, Project Management and Project Finance Consulting with 10 years of experience in Panama.

He holds an MBA from INCAE Business School, a Civil Engineering degree from the Technological University of Panama and a Master's degree in Project Management from the same university. He recently obtained his certificate as a PMP - Project Manager Professional - at the international level.

In the last 3 years we have structured
and successfully raised
more than $200MM, for our clients.