MANUEL PÉREZ CÁRDENAS
FOVISSSTE Executive Representative
Manuel Pérez-Cárdenas is the Chief Executive Officer of the Housing Fund of the Institute of Security and Social Services of State Workers (FOVISSSTE). Mr. Pérez-Cárdenas has admirably served both public service and professional organizations with diplomatic, legal, industrial, financial, farming, fishing, technological and research positions in both Mexico and the United States.
Mr. Pérez-Cárdenas is widely credited with the operational and financial turn-around of FOVISSSTE, the second largest mortgage lender in Mexico and the main source of housing finance to government employees throughout the country. Prior to Mr. Pérez-Cárdenas's administration, FOVISSSTE was considered a governmental lender plagued by inefficiency, corruption and lack of transparency. Since Mr. Pérez-Cárdenas took over the chief executive post, FOVISSSTE has gained the highest loan servicer ratings from major international rating agencies, it has completed [seven] triple-A rated mortgage-backed securities issuances, has voluntarily complied with Mexican regulations typically applicable only to banks and has been audited by PricewaterhouseCoopers.
Another important contribution to the Mexican financial system that Mr. Pérez-Cárdenas is credited with is the closure of the FOBAPROA discussion and consequent passage of the IPAB Law during the 2003 - 2006 federal Mexican legislature. The Mexican bank bailout that resulted from the 1995 banking crisis remained a divisive issue in Mexican politics until the legislative, under Mr. Pérez-Cárdenas's guidance brought several political parties to the table to agree on closure. That brought a level of certainty and predictability to the Mexican financial sector that it had lacked since the Tequila Crisis, fostering strength in the system as well as promoting the availability of credit in the market.
Prior to joining FOVISSSTE, Mr. Pérez-Cárdenas served as Mexico's Consul-General in Houston, Texas. He's also served as General Director of the Mexican Institute for Technological Research (IMIT); General Director of Aquaculture; General Deputy Director of Pesca Industrial Corporativa, S.A. de C.V., a joint venture among the governments of Mexico, France and Norway in the fisheries industry (); General Director for Coordination and Development of partially State-owned enterprises in the industrial and agrarian sectors; and Director of Banking Extension at BANCOMEXT, the Mexican export credit agency. Under his leadership at the General Director of the Savings Institutions Trust (FICAH) of the Finance and Interior Ministries, 400 popular savings institutions in 25 states were saved from defrauded savings.
Mr. Pérez-Cárdenas has served on more than 130 boards of industrial, agrarian, energy, mining and consumer goods companies. His many accomplishments include coordinating efficiency and productivity programs in more than 200 industrial companies; promoting trade relations, in particular for Mexican strategic international interests in regards to the United States; and promoting Mexico's technological development, with an emphasis on small and medium-sized companies with national and regional development ambitions.
Public service has always been a focus for Mr. Pérez-Cárdenas, beginning with his studies at the National Autonomous University of Mexico (UNAM) where he earned a Bachelor's Degree in Economics with an Honorable Mention and served as a student leader. As mentioned above, he was a Federal Representative in the LIX Legislature (2003-2006) in which he took part in the Finance commission, as well as in the commission for Surveillance of the Federation's Upper Auditing Authority, and Secretary of the Commission for Social Security. He was Chairman of the Commission for Investigation of IPAB; was a liaison between PAN's Parliamentary Group and the Entrepreneurial Coordinating Council (CCE) and the Mexican Foreign Trade Council (COMCE); and a member of the Mexico-North Korea Friendship Group. In 2005, he was candidate to the Governorship of the State of Nayarit.