EY in Cuba Credentials, Oct 2016

1Credentials July 2016 |

Credentials EY in Cuba

EY Caribbean Professional Services Ltd (EY CPSL)

At EY we are committed to building a better working world—one with increased trust and confidence in business, sustainable growth, development of talent in all its forms, and greater collaboration. July 2016


ContEnts

01. Update on EY in Cuba

02. Details of Services Provided in Cuba

03. Client Credentials

04. Our Team in Cuba

Cover photo from the Chanel 2017 Cruise Collection presented on the Prado, Havana in May 2016. Photo on left from the Rolling Stones concert in Havana, April 2016. Photos courtesy of Reuters

05. Contact Details


01. Update on EY in Cuba the leading international professional services provider to companies doing business with Cuba

• We work closely with other EY offices both regionally and globally to ensure that our clients receive the best service possible in keeping with EY’s Vision 2020.

• We have over 20 years of experience assisting clients doing business with Cuba.

• We maintain a strong relationship with Consultores Asociados S.A. (CONAS), with whom we share quality office facilities in the Miramar Trade Center. We work with Cuban staff from CONAS on clients where this is the client’s preference to do so. This enables us to perform work in accordance with both local regulatory requirements and international best practice.

• We have extensive insights to the Cuban macro-economic environment, deep experience on a sector level and an up-to-date understanding of the legal, regulatory and fiscal environment.

• We are committed to bringing EY best-in-class experts from within the worldwide EY network to Cuba to provide best practice benchmarking and expertise in multiple areas.

• We have a team of 15 qualified expatriates dedicated full time to Cuba. Our staff, who are from the UK, Canada, Australia, France, Italy, Spain, Argentina, Guatemala and Mexico are able to provide an international outlook to a diverse client base.

• Tax and regulatory

• Relationship management

• Business registration

• People Advisory Services (PAS)

• Strategic

• Operations

• Financial

• Change management

• Technology

• Business intelligence

• Valuation and business modelling

• Due diligence

• Feasibility studies

• Transaction support

Service lines

Sub-service

lines

(B) Transaction Advisory Services (TAS)

Key sectors HOSPITAlITY, FINANCIAl, TElECOMS, ENERGY, OIl & GAS, AND AVIATION

(D) Assurance & Audit

• Financial audit

• Internal controls

• IFRS compliance and Training

(A) Market Entry Services


(C) Advisory


We produce a wide range of literature and documentation on Cuba as well as regularly speak at Cuba-related conferences internationally

4Credentials July 2016 |01. Update on EY in Cuba


Details of services provided in Cuba

We leverage our deep experience in Cuba to ensure that new investors have the backing

of our 20 years experience helping clients in Cuba.

1

2

3

Do I really want to be in Cuba? • Market study• Industry study• Opportunity study

Our Interrogatory approach to assisting new companies in Cuba

Client question our services

How do I establish myself in Cuba?

• Overview of regulation & legislation

• Offshore company incorporation• Partner review/due diligence

How do I initiate and negotiateonaspecificproject?

• Coordinated visits• Transaction assistance• Pre-feasibility Studies

How do I commence business in Cuba?

• Business registration support • legal assistance and

coordination• Final feasibility

4

02. (A)MARKET ENTRY SERVICES



We provide transparent and robust valuations to support corporate transactions as well as to meet regulatory and accounting requirements, which have increased as justifying the value of assets and liabilities have grown more complex and critical for most businesses.

Valuation & Business Modelling transaction support

Our focus is on helping you improve your outcomes. We help you to: Identify key drivers, Improve deal structures, Mitigate risks and Challenge assumptions about future performance.

Feasibility studies

We prepare business plans and feasibility studies for multiple stakeholders including internal management, external investors, and financiers as well as to meet Cuban regulatory requirements and methodology.

Due Diligence

Our issues-led approach to operational and IT due diligence helps businesses maximize transaction value. We offer more than the early identification of the operational and IT issues affecting a business case—we support the deal from initial insight through to value realization.

(B)TRANSACTION ADVISORY SERVICES (tAs)

Business Intelligence

We review market opportunities and risks across multiple sectors. We analyze data and trends within Cuba, the region, and around the world, which leverages our global knowledge hubs, resources, and data centers as well as our understanding of the Cuban market.

6Credentials July 2016 |02. Details of services provided in Cuba | Transaction Advisory Services (TAS)


(C) ADVISORY SERVICES

Through our industry-focused approach and worldwide reach, we help clients manage risk, improve performance and sustain the results. We can help you deliver measurable and sustainable improvement in the performance of your business by focusing on the areas of Strategy, Finance, IT Change and Operations.

STRATEGIC

• Corporate Strategy• Departmental Strategy• Market Research • Due Diligence• Marketing, Brand and

Pricing• Salesforce

Effectiveness

OPERATIONS

• Supply Chain Management

• Operational Risk • Strategic Sourcing • Quality and

Performance Management

FINANCIAl

• Response to Regulation

• Review of Finance Function

• Budgeting Processes• Internal Controls• Financial Risk

TECHNOlOGY

• IT Strategy• Supplier Selection• Hardware/Software

Selection• Implementation

Project Management• Requirements

Definition

CHANGE MANAGEMENT

• Communications• Organizational Design• Organizational culture• Governance• Team Effectiveness• Performance

Management

7Credentials July 2016 |02. Details of services provided in Cuba | Advisory


In Cuba, we typically certify financial statements under IFRS and in accordance with ISA. We have a deep knowledge of Cuban accounting standards as well as typical auditing and accounting issues.

Financial statement Audit

We are registered with the CPAB in Canada and are currently working with EY Canada to assist Ceiba Investments with their upcoming IPO on the TSX.

IPo Assistance

We provide training courses for IFRS implementation for clients in Cuba and we have prepared documentation on key differences between Cuban GAAP and IFRS.

IFRs Assistance

We provide support for assessing business risk and assessment as well as the development of internal control functions.

Internal Controls Review


We provide a consistent audit by assembling the right multi-disciplinary team to address the most complex issues. We use a proven global methodology and deploy the latest, high quality auditing tools and perspectives. We work to give you the benefit of our deep sector knowledge, our full subject matter expertise, and the latest insights from our work worldwide.

(D)AUDIT & ASSURANCE SERVICES PROVIDED IN CUBA

02. Details of services provided in Cuba | Assurance Services

9

Client Credentials

03. Selection of clients we have provided tax & regulatory advice to



Sales Force Optimization project focused on the

domestic market in Cuba

2016

Two feasibility studies regarding a new gas pipeline and the extension of the term

of the joint venture

2016

Feasibility study with CONAS to support a new $ 100

million investment in ZED Mariel

2016

Strategic market entry assistance with regulatory,

fiscal, and other documentation registration

work

2016

Financial and strategic review of the company’s multi-

billion-dollar expansion plans (2015-2020)

2016

Business plan, valuation and advisory work for a British travel agency specialized in

Cuba

2016

INTERNATIONAl BANK

Market study on behalf of the Oficina de la Zona Especial de

Desarrollo Mariel

2016

ENERGAS


Due diligence on behalf of international investment

group reviewing several large investment opportunities in

Cuba

2016

INTERNATIONAl GROUP

Selection of Advisory & Transaction related clients (1/2)


11

Assistance and advice regarding the development of a tourism project, including detailed assessment of hotel

operators in Cuba

2014

Detailed financial review of a billion-dollar project to

expand and improve the oil refinery in Cienfuegos

2014

Detailed financial review of a billion-dollar greenfield

lNG regasification plant in Cienfuegos (2013)

2013

Risk analysis of their financial portfolio in Cuba

2012

Sector reviews in Tourism, Construction and Sugar as

well as macro-economic and risk reviews for several clients

Feasibility study on the expansion of the company

with several additional areas within Havana

2013

Valuation work for this Canadian group developing

several major hospitality projects in Cuba

2014

Feasibility study for a $ 1.5 billion project with Inter-

Rao to build 800 MW of new generating capacity

2014

BUSINESS INTEllIGENCE

VARIOUS


Selection of Advisory & Transaction related clients (2/2)


12

Venezuela’s state-owned oil & gas company in Cuba

2016

The joint venture between PDVSA & CUPET whose

assets include Cienfuegos oil refinery

2016

Wholesale and retail state company specialized in

electronics

2016

The hotel group with various management contracts and

investments in Cuba

2016

The joint venture cement company located in

Cienfuegos

2016

The joint venture involved in bottling and distributing lPG

gas in Western Cuba

2016

The state telecoms monopolist in Cuba

responsible for all data, mobile, and land line traffic

2016Selection of Current Audit Clients

INDUSTRY & TElECOM SECTORS

Empresa Cubana de Gas

12Credentials July 2016 |03. Client Credentials

13

A commercial trading bank in Cuba

2016

A financial entity focused on the Tourism sector

2016

A joint venture between Bankia and a Cuban state

entity

2013

A joint venture between a Russian entity and a Cuban

state entity

2013

A joint venture between Banco Sabadell and a Cuban

state entity

2014

The largest international investment fund specialized

in Cuba

2014

A corporate bank in Cuba with a wide correspondent network

2016Selection of Current Audit Clients

FINANCIAl SECTOR

Corporación Financiera Habana (CFH)

Banco Internacional de Comercio, S.A.

(BICSA)

Financiera Iberoamericana

13Credentials July 2016 |03. Client Credentials


our team in Cuba

04.


Matthew Pickles

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-268-9547 [email protected] https://www.linkedin.com/in/matthewpickles

Background

• Matthew is the Country Managing Partner for EY Caribbean Professional Services limited (EY CPS), EY’s practice in Cuba. He joined Ernst & Young in 1995 as a graduate and qualified as a Chartered Accountant in 1998 with the Ernst & Young UK practice.

• Matthew worked with Ernst & Young in the Cayman Islands practice in 1999 prior to moving to Cuba in 2000.

• Working in Cuba for EY CPS, Matthew established the Transaction Advisory Services (TAS) service line in 2006, Advisory practice in 2014 and Market Entry Strategy division in 2015. He currently leads and manages the overall EY CPS practice on the Island.

• He works closely with other senior EY executives in the UK, Canada, Mexico, Spain, and Germany as well as the Caribbean and other global EY practices on Cuba-related matters.

skills

• With more than 16 years based full time in Cuba, Matthew is a recognized authority on Cuba-related matters and speaks regularly at local and international conferences.

• As a qualified ACCA registered with the Royal Society of Chartered Accountants, Matthew retains an involvement in the Audit practice.

• For the past six years, Matthew has provided tax and regulatory advice to foreign companies looking to do business with Cuba. He has a deep knowledge of the pertinent legislation.

• Over the past eight years, Matthew has performed detailed project, sector and macro-economic reviews in Cuba, providing extensive insights on the Cuban economy.

Experience

• As part of the Market Entry Strategic Assistance to Cuba, Matthew has provided support to a wide portfolio of international Blue Chip companies as well as many Fortune 500 companies.

• The major market study for ZED Mariel special Economic Zone analyzed the current value proposition, benchmarked Cuba within the region and provided a comprehensive road map going forward (2016).

• The feasibility study and strategic review 2015-2025, for EtECsA analyzed the company’s multibillion-dollar expansion plans (2015).

• Analysis of the proposed Euro 1.5 billion plan by the Russian company Inter-Rao to build four 200 MW thermo-electric generating units in Cuba on behalf of Unión Eléctrica (2015).

• Detailed financial review of Cuvenpetrol’s multi-billion-dollar expansion plans for Cuba’s major oil refinery in Cienfuegos (2013).

• Completion of a detailed financial review of Cuvenpetrol’s billion-dollar greenfield lNG regasification plant in Cienfuegos (2013).

• Our tourism sector Review in Cuba included benchmarking potential operators, analyzing regional trends, and identifying risks and roadblocks (2013).

• Our Cuban Financial sector Risk Review looked at sector defaults, delays and other issues during the past 25 years, developing a risk matrix for financial transactions, which included guarantees, payment structures and payment mechanisms.

• Matthew has also been responsible for sector reviews of the sugar and construction sectors as well as feasibility studies for ENERGAS, Aguas de la Habana, Brascuba S.A. and others.

Country Managing Partner [nAtIonALItY: BRItIsH]

15Credentials July 2016 |04. Our team in Cuba


Luke Ingles

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-481-6463 [email protected] https://www.linkedin.com/in/luke-ingles-4883a1

Background

• luke has over 14 years of experience working as a strategic consultant and executive advisor with a focus on a wide range of sectors, including financial services, real estate, and tourism.

• luke specializes in the development of transformational business improvement programs, market entry strategies, and operating model design.

• Prior to working with EY, he was responsible for the implementation of strategic projects at ADIA, one of the world’s largest sovereign wealth funds.

• luke heads up the Advisory and TAS group for EY in Cuba, which assists both resident and foreign companies in defining and optimizing their business models to make best use of the Cuban business environment. He is based full time in Cuba where he has lived since 2014.

skills

• luke has bachelor’s degrees in both accounting and law from the University of Queensland in Australia.

• He obtained a Master of Business Administration from the Harvard Business School.

• luke is a qualified Project Management Professional (PMP).

• He is also a regular speaker at congresses and events focused on investment in Cuba.

Experience

luke has extensive international as well as emerging markets experience through his work across Australia, South East Asia, China, Korea, the Middle East, the US and, of course, Cuba. In addition to his work at EY, luke has worked as in-house strategy advisor to major investment houses, as well as a strategic consultant with the top-tier management consultancy firm Booz Allen. luke has worked on the following key projects:

Selected Cuba Projects

• Sales force optimization project for large consumer products joint venture in Cuba, which seeks to substantially build its market share and national sales

• Business plan and growth strategy for a Cuban speciality tour operator

• Due diligence and advisory services for an investor group reviewing agricultural investment options in Cuba

• Valuation and sales advice for a Cuban industrial company seeking international investment

Selected International Projects

• Product rationalization strategy for a major Australian bank

• 30% cost reduction program for a major oil and gas company

• Global market selection strategy for an Indonesian-based telecoms company

• Tourism enhancement strategy for the government of a Middle Eastern country

• Definition and rollout of the mission, vision, and long-term objectives for Abu Dhabi Investment Authority (ADIA)

• Review and overhaul of the logistics management system of Abu Dhabi Tourism Development and Investment Company (TDIC)

Director of Advisory & transaction Advisory services [nAtIonALItY: AUstRALIAn]



Duane Álvarez

Office number: (+53) 7-204-4658 Mobile number: (+52) 55-5540-0303 [email protected]

Background

• Duane has worked for EY CPS in Cuba as the Director of Market Entry Strategy (Tax, legal, Regulatory) since 2015.

• Duane worked as a lawyer for Bremer, Quintana, Vaca, Rocha, Obregón & Mancera from 1982 to 1994.

• Duane worked with Sherritt International as a senior advisor from 1994.

skills

• Duane has a deep level of understanding regarding the Cuban legal, regulatory, and fiscal environment.

• His experience in extensive negotiations over 22 years has provided him with extensive insights, experience, and knowledge of the Cuban market.

• Duane has developed a deep understanding of macro-economic, sector specific, and micro-economic issues impacting international companies on the Island.

• Duane has deep expertise in the mining and energy sector. He also has been involved in transactions in the hospitality and tourism sector in Cuba.

• Duane is widely respected with strong business relationships within Cuba.

Experience

• Duane has led multiple engagements for EY on behalf of many major international companies looking to do business with Cuba. Advice provided has included legal, tax, regulatory assistance with process issues as well as general advice regarding the overall market conditions and dynamics (since 2015).

• From 1994, Duane worked as a senior advisor to Sherritt International (Sherritt) and its various subsidiaries. Sherritt is Cuba’s largest international investor and has ongoing involvements in oil & gas (through various production sharing contracts), nickel (Moa Nickel S.A.) and energy generation (Energas S.A.). It has also been involved in telecommunications (Cubacel), soya (PDS), and the hotel industry in Cuba (participations in various Meliá properties).

• Duane provided corporate, legal, tax and regulatory advice to Sherritt during this period and has been involved in many of the most important transactions in which the company was involved, including:

• The incorporation of Moa Nickel S.A. (1994) and Procesadora de Soya (PDS) (2005)

• The sale of Sherritt’s hotel interests in Meliá las Américas & Meliá Habana (2010)

• The acquisition by Sherritt of Cubacel (2001)

• Duane has also been involved on an ongoing basis in helping Sherritt to understand how the regulatory, legal, and fiscal frameworks impact the day-to-day operational matters of several of its subsidiaries.

Director of Market Entry services [nAtIonALItY: MEXICAn]



Borja Gómez Águila

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-535-1775 [email protected] https://www.linkedin.com/in/bgaguila

Background

• Borja has been working for EY CPS in Cuba as its Manager of Advisory & TAS since February 2016.

• Prior to that, Borja worked in management consulting for five years at Deloitte in Madrid, focusing in projects relating to M&A, Business Case Modelling, and Strategic Plan definition, among others.

• Borja has worked on various projects in the retail, financial and telecoms sectors, bringing his IT background to strategic projects from all his professional experience.

skills

• Borja has a bachelor’s degree and a Master of Science in Telecommunications Engineering from the Universidad Politécnica de Madrid in Spain.

• He also has a Professional Master's Information Technology and Management from the Illinois Institute of Technology in Chicago where he graduated with a GPA of 4.0.

• Borja won an acceptance to the Top Talent Program by Accenture. He was subsequently involved in various consulting work during his time at university.

• Since Borja joined EY in Cuba, he has developed a strong understanding of the regulatory requirements and established methodology for feasibility studies in Cuba. This has enabled him to complete several feasibility studies for companies operating in Cuba.

Experience

Borja has a wide breadth of international experience having been involved in a wide range of projects through work in Chicago, Madrid, london, Nice and Havana in Strategy Consulting. Key projects include:


• Business Case Modelling for a telecommunications company that consolidated its South American data center facilities into a single location.

• M&A projects for financial and technology companies, providing guidance related to the IT impact in the value of the deal.

• Definition of IT Strategy Plan for retail and financial companies, aligning it to their global strategy and identifying and prioritizing initiatives.

• Operational Model Definition for an oil and gas company to drive cost reduction from human resources, customer service and back-end departments.

Selected Cuba Projects (EYCPS)

• Feasibility study for electricity joint venture in Cuba to extend the expiration date of their business.

• Review of the regulatory paperwork and feasibility study for a foreign financial entity to continue operating in Cuba.

• Business Plan Definition for a tourism company operating in Cuba providing bike tours around the country.

• Valuation and business case advice for a Canadian real estate company seeking international investment.

Manager of Advisory & transaction Advisory services (tAs) [nAtIonALItY: sPAnIsH]



Chiara Vighi Office number: (+53) 7 204 4658 Mobile number: (+53) 5 254 5372 [email protected]

Chiara has been working as a Project Management Specialist in our Advisory practice for the past year. During this time, she has worked primarily on a Sales force optimization project for Havana Club.

Chiara has a bachelor’s degree in economics from the University of Parma and holds a Master of Arts in European-latin American International Relations from the University of Bologna in Buenos Aires.

Chiara has deep and extensive project management experience having been the Head of Mission in Havana between 2009 and 2013 for GVC Onlus Italia as well as a Project Manager for FOS–socialistische solidariteit in Havana. Her experience working for NGOs in Cuba for seven years has given her a broad understanding of the country from a social and cultural perspective as well as sector expertise in agriculture and food processing.

Prior to coming to Cuba, Chiara worked in Angola, lebanon, Indonesia, Sri lanka, Guatemala, and Italy.

Project Management specialist, Advisory [ItALIAn nAtIonAL]

Marjorie Rouveure

Marjorie has worked for EY CPS in Cuba as a Consultant in Advisory & Market Entry Services for the past year. She works closely with Duane Álvarez, assisting companies with their Market Entry Strategies, as well as with Business Registration Support and People Advisory Services. During her time in Cuba, she has assisted several major international companies with their entry to the Cuban market.

Marjorie obtained a bachelor’s degree in management and holds a Master of Science in Management from the Pau Business School in France.

Marjorie has extensive experience as a consultant. From 2008 to 2014, she worked as a Senior Trade Adviser for the French Trade Commission UBIFRANCE (london, UK) where she assisted French companies with their Market Entry Strategies into the UK.

Marjorie is fluent in English, Spanish, and French. She is reliable, creative and is a detail-oriented person.

Consultant, Advisory [FREnCH nAtIonAL]

Office number: (+53) 7 204 4658 Mobile number: (+53) 5 254 5372 [email protected]



German Matzkin

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-263 8115 [email protected] https://www.linkedin.com/in/germán-matzkin-49ba0437

Background

• Germán is an Audit Partner with EY CPS focused on the financial sector. He is also the CFO for EY CPS.

• Germán graduated as a public accountant from the University of Rosario in Argentina. Thereafter, he worked for Arthur Andersen and then EY in Buenos Aires, Argentina.

• Germán moved to Cuba in 2003 and has been based on the Island since.

skills

• With over 18 years working in audit, Germán has deep technical audit skills and a thorough understanding of accounting and auditing issues, including up-to-date best practice financial reporting, regulatory and other standards as they relate to Cuban clients.

• Germán has extensive knowledge of the Cuban financial environment having managed and overseen EY’s audit portfolio for the past 10 years. This includes understanding of the regulatory environment, risk parameters, credit exposures, and other sector-specific knowledge.

• He has extensive understanding of the oil & gas downstream sector in Cuba.

• Germán has presented inside and outside Cuba on IFRS-related issues.

Experience

• Germán is the Audit Partner for EY’s financial sector portfolio, which includes three of Cuba’s largest state-owned banks (BICSA, BEC and FINTUR) and several representation offices and joint ventures in the financial sector, including Corporación Financiera Habana (CFH), Financiera Iberoamericana, and FINEXIM, S.A.

• He is the Audit Partner for CEIBA Investments, which is currently going through the listing process prior to an IPO on the Canadian TSX exchange.

• He is the Audit Partner for PDVSA & Cuvenpetrol (joint venture involving PDVSA & CUPET).

• In the past, Germán was in charge of the audit of the following financial entities:

• ESICUBA (the largest Cuban insurance company for local entities)

• FINCIMEX (the financial company in charge of the processing of remittances and credit and debit card transactions)

• Several Cuban financial institutions no longer operational, such as Financiera Caudal & Finagri

• He has provided several IFRS courses to Cuban and international EY clients.

Audit Partner [nAtIonALItY: ARGEntInEAn]



Alejandro Gago

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-284-7300 [email protected] https://www.linkedin.com/in/alejandro-miguel-gago-526a76

Background

• Alejandro is an Audit Partner for EY CPS. He specializes in the audit of telecoms, hospitality and retail companies.

• Alejandro has over 18 years of experience working as auditor.

• Alejandro graduated in 1999 as a public accountant from the University of la Matanza in Argentina. Thereafter, he worked for Arthur Andersen and then EY in Buenos Aires, Argentina.

• Alejandro moved to Cuba in 2003 where he has lived since.

skills

• Alejandro has a deep knowledge of various different accounting regimes (GAAP), including US GAAP and ISA. Within Cuba, he has presented several IFRS courses to senior management at several important corporate entities.

• He has extensive experience identifying internal control weaknesses, business process weaknesses, and other value added services to management.

• He has performed due diligence reviews and special engagements on mergers, acquisitions, and business reorganizations.

• He has reported on businesses, planning, management and control based on parent company specific requirements.

• Alejandro also has a deep knowledge of the Cuban market gained over almost 13 years working full time in Cuba with the most important companies in the country.

Experience

• Alejandro is the Audit Partner for EY’s telecoms and Retail sectors, which includes three of Cuba’s largest state-owned companies: Empresa de Telecomunicaciones de Cuba (ETECSA), Corporación Cimex and Corporación Copextel.

• Alejandro is the Audit Partner of several representation offices and joint ventures in Cuba, including Grupo Iberostar, Cementos Cienfuegos, Internacional Cubana de Tabaco, Empresa Cubana de Gas, Inmobiliaria Montebarreto, Inmobiliaria Aurea and Productos Sanitarios.

Alejandro was the Audit Partner for CEIBA Investments, which is currently going through the listing process prior to an IPO on the Canadian TSX exchange.

• Alejandro was also involved in the feasibility study and strategic review 2015-2025, for ETECSA in 2015, which analyzed the company’s multibillion-dollar expansion plans.

• Alejandro has been actively involved in personnel evaluation, selection and promotion definition, as well as in the appointment of new auditors and consultants for EY CPS.

Audit Partner [nAtIonALItY: ARGEntInEAn]



Joan José torrebadella

Mobile number: (+34) 693-531-363 [email protected]

Background

• Joan J. Torrebadella was a partner with EY until mid-2013. He holds two degrees in economics and law from the University of Barcelona. He is a member of the Spanish Registro Oficial de Auditores de Cuentas (ROAC). Since mid-2013, he has continued to work with EY Spain on a contractual basis and maintains very close ties with the practice.

skills

• Joan has more than 30 years of experience in the audit practice. Over the past ten years, his client portfolio included the Spanish subsidiaries of Nissan, Syngenta, Hennes & Mauritz (HM), laureate (Sylvan), Magneti Marelli (FIAT), live Nation, Alstom, Ciba, and Rank as well as leading Spanish companies including Cirsa (leisure and gaming), Torraspapel (pulp and paper), Ercros (chemicals) and Ficosa (automotive components).

Experience

Joan has been involved extensively in technical reviews, training, and accounting standard development during the course of his career. This has included being the:

• Team leader of international AQRs. He has reviewed the quality of audit engagements for EY in many latin American countries including Argentina (Buenos Aires), Chile (Santiago), Brazil (Sao Paulo, Rio de Janeiro and Recife), Peru (lima), Colombia (Bogota), Venezuela (Caracas), Mexico (DF Mexico), and Caribbean Professional Services (EY Cuba).

• Second partner for many Spanish clients including Iberdrola, Sol Meliá and Grupo Agbar.

• Technical director of the IFRS Desk in Barcelona where he provided advice on IFRS matters to three EY offices in Spain (Barcelona, Valencia and Palma de Mallorca), assisted with the conversion of financial statements from Spanish GAAP to IFRS, and led the education and training activities on IFRS both internally (seminars) and externally (lectures and presentations).

Director, Learning & Quality [nAtIonALItY: sPAnIsH]



Martín Giménez

Office number: (+53) 7-204-4658 Mobile number: (+54) 9 221-552-4604 [email protected]

Background

• Martín has over 19 years working in Advisory and has been devoted full time to projects in Cuba since 2004. Before then, he worked for Arthur Andersen followed by EY in Buenos Aires, Argentina.

• He is a Public Accountant and also has a degree in business administration.

• Since 2004, he has been involved in EY’s Audit Support practice (ITRA) in all Cuban engagements.

• Martín has been actively involved in a number of projects and has led various courses in Cuba, especially in the telecommunications sector. Martín is well informed on Cuban regulations regarding computer systems.

Experience

Martín has more than 19 years of experience in project advisory, technology and risk. He heads up projects for major companies in latin America and Cuba. His expertise includes:

• Software and Strategic System Plan selection

• Business intelligence

• Strategic plan and feasibility studies for new businesses and shared services

• Designing and implementing methodology and tools for project management, organization and operation

• Managing the implementation of large systems (SAP, etc.)

• Identifying technology risks

• IT transformation

• Reengineering of commercial, administrative and operational areas

• Process impact and computer security

Director, It Risk Assurance services [nAtIonALItY: ARGEntInEAn]



Cecilia García Prieto

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-481 8205 [email protected]

Background

• Cecilia is Audit Manager with EY CPS focused on the telecoms industry and financial sector. She has also collaborated with the Advisory and TAS groups in special projects.

• Prior to working with EY, she worked with DirecTV US, where she was in charge of process optimization projects across the US and latin American region as a Junior Manager for almost three years in which she acquired a strong knowledge of the telecommunications and entertainment business.

• Cecilia has been working with EY in Cuba on a regular basis since 2009. In 2014, she moved to Cuba permanently.

skills

• Cecilia graduated with a degree in public accounting from the Universidad Nacional del Sur in Argentina in 2004. She also achieved a post graduate degree in finance from the Universidad Católica Argentina in 2008.

• With over 12 years working in audit and advisory projects, Cecilia has developed deep knowledge in financial audits, mergers and acquisitions, due diligences and process optimization. She also has a thorough understanding of accounting and auditing issues related to Cuban clients.

• Cecilia has extensive experience presenting training and other courses to a diverse audience.

Experience

Cecilia has a wide breadth of international experience having worked in the US, Argentina, Brazil, Colombia, Mexico, Ecuador, Chile and Cuba over the last seven years. She has primarily been involved in external and corporate audit as well as optimization process projects, including:

Selected Cuba Projects

• Audit manager for Empresa de Telecomunicaciones de Cuba S.A. (ETECSA)

• Audit manager for Financiera del Turismo S.A. (Fintur S.A.)

• Audit Manager for CEIBA Investments.

• Sales Force Optimization project for large consumer products joint venture in Cuba seeking to substantially build its market share and national sales

• Feasibility study and strategic review 2015-2025 for ETECSA, which analyzed the company’s multibillion-dollar expansion plans (2015)


• Implementation of CRM in a call center company

• Assisted in the billionaire ATT’s acquisition of DirecTV US (both American companies)

• Cost reduction program for the biggest transport company in Argentina

• Optimization of satellite capacity for DirecTV Venezuela

Audit Manager [nAtIonALItY: ARGEntInEAn]



Manuel salguero

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-243-4510 [email protected]

Background

• Manuel is an Audit Manager with EY CPS focused on oil & gas clients as well as entities in the hospitality and industry sectors.

• Manuel graduated as a public accountant from the University of San Carlos in Guatemala. Thereafter, he worked for PricewaterhouseCoopers in Guatemala.

• Manuel moved to Cuba in 2008 and has been based on the Island full time since.

skills

• He has a knowledge of accounting regimes (GAAP) and ISA.

• He has extensive experience identifying internal control and business process weaknesses.

• Manuel has performed due diligence reviews and special engagements on mergers, acquisitions, and business reorganizations.

• He has reported on businesses, planning, management and control based on parent company specific requirements.

• He understands the oil & gas downstream sector in Cuba.

Experience

• Manuel is the Audit Manager for PDVSA CUBA & Cuvenpetrol (JV Involving PDVSA CUBA & CUPET).

• He is also the Audit Manager for Iberostar, Prosa, Cementos Cienfuegos and other companies.

Manager, Audit nAtIonALItY: GUAtEMALAn]



Valeria Lis Office number: (+53) 7 204 4658 Mobile number: (+53) 5 515 9554 [email protected]

Valeria has been working in Cuba as a Senior II in the Assurance practice since February 2016. She is primarily involved in the audits of ETECSA and CEIBA Finance. Valeria has a degree in public accounting from the University of Buenos Aires (UBA) and has a postgraduate degree in IFRS. She has more than six years of experience in audit. She worked for PricewaterhouseCoopers (PwC) in Argentina and for PwC Outsourcing for the US, as well as participated in the conversion process of GAAP to International Financial Reporting Standards (IFRS).

She also has project management expertise from her work for the Abertis Group where she coordinated, supervised, and managed the relationship with the supervisory authority regarding the expansion works of the Avenida General Paz and complementary, one of the largest investments in road works that has been made in Argentina in recent years.

senior II, Audit [nAtIonALItY: ARGEntInEAn]

María Paz Porras

María Paz has performed work in Cuba for the past three years and moved full time to the Island in 2015 as a Senior II in the Assurance practice. During this time, she has worked primarily with clients in the financial sector.

María Paz has a degree in accountancy from the University of Buenos Aires. Prior to coming to Cuba, she worked in Argentina for Russell Bedford and EY. María Paz also worked as head of back office in a mutual funds administration society in Argentina (Cohen SGFCI) for a year. She also worked in Chevron Shared Services for nearly two years in a tax team, doing tax returns related to petroleum in the states of Hawaii, Oregon, California, and Florida.

Audit senior II nAtIonALItY: ARGEntInEAn]




Marian Campos Office number: (+53) 7 204 4658 Mobile number: (+53) 5 278 0073 [email protected]

Marian is a Senior II in the Assurance practice with EY CPS since 2009 when she moved to Cuba. She has worked primarily in recent years with clients in the oil & gas and industry sectors, such as PDVSA Cuba, Empresa Cubana de Gas (ECG) and Internacional Cubana de Tabaco (ICT).

She graduated as a public accountant from the University Mariano Gálvez in Guatemala. Thereafter, she worked for a private bank in Guatemala. She has a good knowledge of accounting issues and methodology and she has extensive experience working with Cuban entities.

senior II, Audit [nAtIonALItY: GUAtEMALAn]

Ana silvela Faget

Ana has been working as a staff member in our Audit practice since 2015. During this time, she has worked primarily on audits of our financial sector clients.

Ana has a degree in economics and business science from the University of Madrid and graduated from a management control course from the Centro de Estudios Financieros in Madrid in 2002. She speaks English fluently and has a strong background in financial management, firm administration, and internal controls. In Madrid, she worked as Treasury Manager and Financial Controller for over 10 years before moving to Cuba four years ago.

Audit staff [nAtIonALItY: ARGEntInEAn]




Office number: (+52) 999-926-1450 [email protected]

Henry GonzálezTax Partner EY [Mexico] Mancera, S.C.

(Head of Cuba desk for EY Mexico)

Office number: (+1) 868 628 5185 [email protected]

Wade GeorgeCaribbean Tax Managing Partner EY [Caribbean] Ernst & Young Services ltd.

(Liason between EY Caribbean and EY [Cuba])

Office number: (+34) 915 727 689 [email protected]

Pablo J. Bonsangüe CapdeponDirector, TAS EY [Spain] Ernst & Young Servicios Corporativos, S.l.

(Head of Cuba desk for EY Mexico)

Matthew Pickles Country Managing Partner EY [Cuba] Caribbean Professional Services ltd.

Office number: (+53) 7-204-4658 Mobile number: (+53) 5-268-9547 [email protected] https://www.linkedin.com/in/matthewpickles

(Primary direct contact for all Cuba-related queries)


05. Contact Details For Cuba related queries


EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global limited, each of which is a separate legal entity. Ernst & Young Global limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

EY | Assurance | tax | transactions | Advisory

About EY

EY in Cuba Credentials, Oct 2016

Documents

Transcript of EY in Cuba Credentials, Oct 2016