In-Brief

UBS hosts seminar for Puerto Rico credit unions

Fron left: Víctor Flores, Coop San Blas; José L. Cardona, Coop San Blas; Francisco J. Rodríguez-Castro, UBS; Hernando Sánchez, Coop San Blas; Coraly Aponte, Coop San Blas; and Gerardo Latimer. Fron left: Víctor Flores, Coop San Blas; José L. Cardona, Coop San Blas; Francisco J. Rodríguez-Castro, UBS; Hernando Sánchez, Coop San Blas; Coraly Aponte, Coop San Blas; and Gerardo Latimer.

UBS Financial Services Inc. of Puerto Rico recently held a breakfast meeting with Puerto Rico credit union clients to discuss the island’s financial outlook for 2014.

During the event, local economist Gustavo Vélez, president and founder of Inteligencia Economica, offered a seminar titled “Puerto Rico’s economic and fiscal outlook 2014,” in which he outlined his perspective and offered insight about Puerto Rico’s economy.

Vélez kicked off his presentation by recognizing the importance of the credit union sector in the Puerto Rican economy.

“The credit union sector grew from $475 million to $1.2 billion during the current recession. It is the least affected sector from the financial system,” he said.

“We have a strong commitment to the credit union sector, of keeping the market informed of developments in the island’s credit and assisting clients through these challenging times,” said UBS CEO Carlos V. Ubiñas.

In addition to Vélez’s presentation, UBS executives Doel R. García, Jr., wealth management managing director, Francisco J. Rodríguez-Castro, managing director business development, marketing and partnerships, and José G. Arias, investment banking managing director addressed attendees and thanked them for their participation in the event.

This breakfast is part of the UBS Speaker Series.

Author Details
Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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