Dr. Eduardo Ferrer, Senior Partner of Morgan & Morgan, received from the Board of Directors of the Superintendency of Banks of Panama (SBP for its initials in Spanish) a plaque of recognition in virtue of his legacy, commitment and permanent contribution to the development and strengthening of the banking regulation, in favor of the stability, confidence and competitiveness of the International Banking Center of Panama.
Dr. Ferrer has over 40 years of experience as a banking lawyer and is considered a leading lawyer in banking and financial services in Panama., During his career, Mr. Ferrer has been Counselor to the Embassy of the Republic of Panama, Washington, D.C. during Canal Treaties Ratification period (1977-1978); Director of the Bank Superintendency of Panama (1998-2006), and President of the Board of Directors (2000-2001; 2003-2004). Currently, he serves on the Board of many private companies and is an honorary member of the Inter-American Bar Association and the International Bar Association.
The event took place within the framework of the 20 years of banking regulations celebrated by the Superintendency of Banks of Panama. The activity was attended by outstanding professionals of the banking sector of the country.
Morgan & Morgan advised Hyatt International Inc. with respect to the acquisition of a minority interest in Oasis Luxury Rentals
Morgan & Morgan advised Hyatt International Inc. about serving as special international counsel for them in connection with the acquisition of a minority interest in Oasis Luxury Rentals, a privately owned company based in New York. Oasis Luxury Rentals Inc., through its online platform, manages portfolios of high-end short-term rentals and a network of private members clubs around the world. It provides an online platform that connects guests to accommodations and other services.
Partner Eduardo Ferrer and senior associate Roberto Vidal, participated in this transaction.
The Superintendence of Banks (SBP) of the Republic of Panama has issued a resolution by which it grants Puente Bank, S.A. an International Banking License to formally operate in the Republic of Panama.
“Since the month of August, 2014, Morgan & Morgan, by request from the bank’s managements, formally started the legal and administrative processes required by SBP to obtain the license necessary to carry out the banking business in our country,” stated Dr. Eduardo Ferrer, partner of Morgan & Morgan who handled this operation.
Grupo Puente is one of the leading investment banking institutions and most experienced in the Southern Cone.With a portfolio of assets under management exceeding US$2,500 million and more than 35,000 clients worldwide, the new financial entity will provide all services offered by a general license bank, thus joining the list of renowned financial entities operating in Panama.
Morgan & Morgan assisted Uni Bank & Trust, Inc. in obtaining its banking and trust licenses in Panama
The Superintendency of Banks (SBP) of the Republic of Panama issued a resolution granting Uni Bank & Trust, Inc. a General Banking and Trust License to formally operate in the Republic of Panama.
Since February 22, 2010, the team of Morgan & Morgan, represented by its partner Eduardo Ferrer, and by request of the Bank’s management, formally started the legal and administrative process before the SBP to obtain the licenses required to carry out the banking business and trust operations in Panama.
Both licenses met with favorable acceptance by SBP forthwith. The general license was granted on July 19, 2010 and the trust license on July 26, 2010.
The new financial entity will provide all services offered by a general license bank especially commercial and mortgage loans, deposit and savings accounts, and will focus on small, medium and large companies as well as on individual clients.
The Bank’s president is Joseph Salteiro, who retired as CEO of HSBC Bank Panama after 34 years of service. Mr. Salteiro has vast experience in the Panamanian market and will have a group of prominent Panamanian businessmen as its principal partners.
With an investment of US$50 million, the Bank already has next to 100 potential clients and almost 75 employees with whom it plans to start operations at the end of the year 2010.
Counsel to Uni Bank & Trust, Inc.:
- Eduardo Ferrer, Partner
- Ricardo Vidal, Associate
La Superintendencia de Bancos de la República de Panamá (SBP) emitió resolución en la cual se le otorga a Uni Bank & Trust, Inc. Licencia Bancaria General y Fiduciaria para operar formalmente en la República de Panamá.
Desde el 22 de febrero de 2010, el equipo de Morgan & Morgan, representado por el socio Eduardo Ferrer, y a través de una petición de la gerencia del banco, inició formalmente todo el proceso legal y administrativo requerido por la SBP para la obtención de las licencias exigidas para llevar a cabo el negocio de banca y operaciones fiduciarias en Panamá.
Ambas licencias fueron acogidas favorablemente por la SBP de manera expedita. La Licencia Bancaria General fue otorgada 19 de julio de 2010 y la Licencia Fiduciaria el 26 de julio de 2010.
La nueva entidad financiera se dedicará a prestar todos los servicios que ofrece un Banco de licencia general, particularmente al sector de servicios de préstamos comerciales e hipotecarios, cuentas de depósito y cuentas de ahorro; y se concentrará en pequeñas, medianas y grandes empresas, así como en clientes individuales.
El Banco cuenta con Joseph Salteiro como presidente, quien se retiró como CEO del HSBC Bank Panamá después de 34 años de servicio. El Sr. Salteiro posee una vasta experiencia en el mercado de Panamá, y contará con un grupo de prominentes hombres de negocios panameños como sus principales socios.
Con una inversión de US$50 millones, el Banco ya cuenta con unos 100 clientes potenciales y alrededor de 75 colaboradores con los cuales se proyecta a iniciar operaciones a finales del año 2010.
Asesoría a Unibank & Trust, Inc.:
- Eduardo Ferrer, Socio
- Ricardo Vidal, Asociado