Postcard from Paraguay

Tell Us about Paraguay

Official language: Guaraní (National Language) and Spanish. Paraguay is the only South American country that has two official languages, and the only country in Latin America where the indigenous language is one of the national languages - despite the fact that the majority of the population is not indigenous.

Currency: Guaraní

Population: 7,000,000

Capital: Asunción

Weather: The overall climate is tropical and subtropical. It is usually very warm, with temperatures fluctuating between 25º and 35ºC, but in the winter temperatures can decline to 15 Cº. January is the hottest month, when temperatures in the Chaco (western region), can go above 40º C.

Favorite local cuisine: Paraguayan cuisine is varied and has its origins in the Tupí-Guaraní ethnic groups, but is also influenced by Spanish, Portuguese and Italian cuisine, as a result of waves of immigration over the centuries of colonialism. If I had to choose, I would opt for the Surubí, a river fish native to South America, and Paraguayan soup, a typical food much like a soufflé made with onion, water, eggs, fresh cheese, corn flour and milk.

Favorite local beverage: Tereré! It is an infusion of mate tea prepared with cold water invented by the Guaraní natives who live in Paraguay, western Brazil and northern Argentina. There is no Paraguayan who doesn´t have his tereré with him/her throughout the day.

Best Tourist sites: Definitely the Jesuit ruins of Paraguay, which were declared part of the Universal Heritage of Humanity by UNESCO. Another popular tourist destination is the binational dam of Itaipu (Guaraní for 'stone that rings'), on the Paraná River, which marks the border between Paraguay and Brazil and produces more renewable hydroelectric energy than any other dam in the world.

What I love about Paraguay? The people, who are authentic and very friendly. Paraguayans are typically open to foreigners and therefore good hosts. Everywhere I've visited with my family - we've felt welcomed and grateful for all the people we meet who are invariably ready and eager to help you. I also love the guarania, a national musical style that is unusually original and soft. I also love the Paraguayan culture, which is exemplified by the fact that its people have a long history of recovering and even growing stronger from the many historical adversities. That run throughout the history of the country.

Country Profile

How many years has Citi been in your country? 58

What are the opportunities and challenges of doing business in your country?

Citi's long and distinguished track-record in the country is an important comparative advantage relative to other financial institutions. As the only global international bank with a significant history in Paraguay, and an important driver of local development, our institutional trajectory, globality and commitment give us a unique opportunity to stay close to our clients while continuing to develop products and services to meet their increasingly complex needs.

Personal/ Professional Background

Where were you born/from?

I am originally from Caracas, Venezuela, but lived for over 11 years in the U.S., Colombia and now Paraguay.

What did you study that helped you prepare for your career at Citi, and were there any subjects you realized subsequently would have helped you?

While I studied Economics at university, I believe having working experience is very important. That said, getting my MBA was an extraordinary milestone in my life that has helped me develop a career with a strong managerial and financial focus. Finally, having lived in different countries gives me a more diverse vision of markets and people than what I might have had without so much moving around.

What other roles and/or countries have you worked in at Citi?

Before my role of CCO in Paraguay, I was in charge of Citi Investment Bank (CIB) in Venezuela and Colombia. Within CIB, I was also Financial Institutions and Global Subsidiary Head.

What would be your advice to someone just starting their career?

Take full advantage of the wide variety of options that Citi gives us as a global corporation. The rich mix of businesses and career opportunities can help you develop a versatile and well-rounded career. Based on my own experience, I think it's both a point of pride and a privilege to have an international career while continuing to go all out for your home country.

Role and Responsibilities

How do you balance delivering for local stakeholders (given their unique needs) and continuing to work toward enterprise-wide business and bank objectives?

The most important thing is not to lose focus of priorities as business head and manager of my team. I try to always keep in mind Citi's Mission and values and adapt my own behavior and that of my team to those ethical and business guidelines.

How do you help you enable progress?

I always try to maintain an open mind to new ideas and new ways of doing things. I've always tried to cultivate a positive vision for the future of society. Working as part of a team, I learned long ago that the best way to achieve results and celebrate success is to maintain a healthy balance between individual and collective accomplishment. That helps me not only to grow personal professionally, but to grow personally as part of a team.

How do you maintain work-life balance? What do you do in your free time?

I have a family that demands much of my time, which is the case with most members of my team. But much as I like to respect everyone's personal and family time, in our industry it can be hard to stay connected one hundred percent with my family life when I'm with my wife and our children. Since we are in a new country and meeting friends, we all enjoy getting to know the culture better and traveling around discovering more places to see and enjoy. I also try exercise at least three times a week; and over the weekend take my wife or one of my kids for a walk in the park, so we can catch up after a long week.