The Firm

Before joining 414 Capital, Argel Becerra worked for more than 16 years with global institutions such as J.P.Morgan and HSBC both in Mexico and the US

During such period of time, he participated in several groups focused on Investment Banking, Corporate Banking, Capital Markets, Workouts and Risk Management

He holds a BS in Industrial Engineering from ITESM

Bernardo Campuzano began working in 414 Capital in 2011. As an Investment Banking Vice president his main functions include structuring of M&A transactions, valuation of public and private financial assets and other advisory services related to corporate finance

Prior to 414 Capital, he served as a financial information analyst at Coca Cola FEMSA

Mr. Campuzano studied a B.A. on Financial Management at ITESM and completed an exchange program in VU University Amsterdam

Manuel Campuzano started his professional career in 2006, initially as a business consultant at McKinsey & Company and then as an investment banker at J.P.Morgan. He also spent more than 9 years as an investor in the private equity industry first at Temasek and then at BlackRock.

Mr. Campuzano has a broad range of industry expertise including deal experience in financial services, transportation and logistics, and infrastructure among others.

Mr. Campuzano holds an MBA from the University of Chicago Booth School of Business and a bachelor degree in industrial engineering and systems from Tec de Monterrey (ITESM)

Joaquín Contreras joined the 414 Capital team in 2018. His main responsibilities involve the development and review of financial models, qualitative and quantitative analysis of companies and assets, as well as participating in all the stages of the M&A process

Before joining 414 Capital, Joaquín worked at Angel Ventures as an analyst. Also, he was part of the BNP Paribas M&A LATAM team and worked as an independent consultant for companies in multiple sectors

Mr. Contreras is an Industrial Engineer by Universidad AnáhuacMr. Contreras is an Industrial Engineer by Universidad AnáhuacMr.

Rodrigo de la Sierra joined 414 Capital as an Investment Banking Analyst during 2013. As an Investment Banking Associate, his principal activities include current participation in M&A transactions, financing and other corporate finance consultancies

Before joining 414 Capital he served Moksha8 participating in sales projects, analyzing pharmaceutical products behavior and sales forecast

Mr. de la Sierra studied a B.A. on Financial Management at ITESM. He holds the Figure 3 Investment Strategy Advisor granted by the Mexican Securities Industry Association (AMIB)

• Ariel Fischman, founder of 414 Capital, began his career in the financial industry in 2001, working for international financial institutions including Goldman Sachs, J.P. Morgan and BankBoston, both in Mexico and in the United States. He currently serves on the board of several private and public companies


• Mr. Fischman studied Business Administration and graduated valedictorian from Universidad Iberoamericana, He holds a Master's degree in Infrastructure from New York University and two postgraduate degrees in Money Market Finance and Derivatives from ITAM

Rafael Guerrero joined 414 Capital in 2014. As an Investment Banking Vice president, his principal activities include the creation of financial models for company valuations, publication of equity research analysis, and the structuring of M&A transactions

Before joining 414 Capital, Mr. Guerrero worked at Actinver Casa de Bolsa as an Investment Banking Analyst, where he actively participated in the structuring and syndication processes of different public offerings in the Mexican Stock Exchange, as well as debt transactions for financial institutions

Mr. Guerrero holds a B.A. in Business Administration with a major in Economics from ITAM

Herman Gunter joined 414 Capital in 2015. As an Investment Banking Associate, his principal activities include participation in M&A transactions, financing and other corporate finance consultancies

Prior to 414 Capital, he served as a financial analyst at PCH Servicios Financieros, in which he contributed in many projects with companies from various sectors

Mr. Gunter holds a B.A. on Financial Management at ITESM. He holds the Figure 3 Investment Strategy Advisor granted by the Mexican Securities Industry Association (AMIB)

Adolfo Herrasti joined 414 Capital on 2017 as an Investment Banking Analyst. His main responsibilities are financial modeling, valuation of companies and projects, redacting of equity research reports and participating in M&A transactions

Before joining 414 Capital, Mr. Herrasti was a member of the UBS Equity Research team covering the retail sector in Latin America. His main responsibilities included creating financial models, company research and solving client requests

Mr. Herrasti is currently studying Economics at ITAM with a specialization in Finance

Rodrigo Ledesma joined 414 Capital in 2015. As an Investment Banking Vice president, his activities include financial modeling, valuation of public and private financial assets, structuring of M&A transactions and other advisory services related to corporate finance

Mr. Ledesma began his career at Finamex Casa de Bolsa as an Equity Analyst

Mr. Ledesma holds a bachelor’s degree in financial management from ITESM. He completed the Oxford Chicago Valuation Programme, an Executive Education programme provided by the University of Oxford’s Saïd Business School and the University of Chicago Booth School of Business. Additionally, he is member and Charterholder of the CAIA Association

Martha Ledesma joined 414 Capital as Office manager in 2017, covering administrative functions

Prior to that, she worked for five years in the financial industry in different administrative roles. She has several certifications for education programs in the field of administration and organizations

Sergio Lipuzcoa began his carrer in the investment banking industry in Mexico in 2008. During this period Mr. Lipuzcoa has valued companies of different industries with specialization in the Food & Beverage space

During his career of more than 20 years, Mr. Lipuzcoa has been consultant for the European Union and CFO in manufacturing and distribution companies, both wholesalers and retailers

Mr. Lipuzcoa holds an Industrial Engineering degree at the University of Navarra and an MBA degree at the IESE Business School, with joint programs in Germany (Technische Universität Braunschweig) and the US (Cornell University)

Alejandro Moreno began working in 414 Capital as a Business Development Executive in 2015. His main tasks include relationship follow-up and customer service, after sale services, and development of new business initiatives

Prior to 414 Capital, he was the sales manager in LATAM at Proveedor Integral de Precios (PiP). Some of his previous tasks were client retention strategies, customer service and product penetration, brand positioning and customer follow-up. His career in the financial sector began in 2005 as P&L Analyst at Banamex

Mr. Moreno holds a Systems Engineering degree from Universidad del Valle de México and a postgraduate course in Evaluation of Investment Projects from ITAM. He also holds a Master's in Financial Engineering Management at UVM

Luis Ocejo joined 414 Capital as an Investment Banking Analyst in 2016. His principal activities as an Investment Banking Analyst include participation in M&A transactions, financing and other corporate finance consultancies

Prior to 414 Capital, he served as Financial Analyst at J.P. Morgan in which he contributed in projects with companies from various sectors

Mr. Ocejo holds an Industrial Engineering degree from Universidad Iberoamericana

Santiago Peñalva joined 414 Capital in 2016. As an Investment Banking Associate, his main responsibilities include an active participation in M&A transactions, valuation of public and private financial assets and advisory services related to corporate finance

Before his entry to 414 Capital, he was a member of the UBS Equity Research team covering the sector of Metals and Mining. His day to day role involved building financial models, redacting company and sector research notes and resolving client requests from institutional investors. His coverage within UBS included: Grupo México, Vale, Freeport-McMoRan, Barrick Gold, CSN, Gerdau, Ternium, Usiminas, among others

Mr. Peñalva obtained his degree in Accounting and Financial Strategy from ITAM

Veronica Rodríguez joined 414 Capital as an Investment Banking Analyst in 2018. Her activities at the Firm include financial modeling, valuation of public and private companies, as well as writing research reports for capital markets securities. She is also involved in the analysis and development of M&A and other transactions related to corporate finance

Ms. Rodríguez began her career at Troy Energía in the finance and administration area, where she helped with the execution of different energy projects in Mexico

Prior to this, Veronica did an Internship at CFC Finance Australia where she worked as a mortgage broker, intermediating between clients and the most important financial institutions in South Asia and Oceania.

Ms. Rodríguez holds a bachelor´s Degree in Economics and Finance from ITESM

Mariana Roldan joined 414 Capital on 2020 as an Investment Banking Analyst. Her main responsibilities are financial modeling, valuation of companies and projects, redacting of equity research reports and participating in M&A transactions

Before joining 414 Capital, Mariana worked at Grupo Financiero Santander

Ms. Roldan is an undergraduate in Industrial Engineering from Universidad Iberoamericana

Gala Snodgrass joined 414 Capital on 2021 as an Investment Banking Analyst. Her main responsibilities are financial modeling, valuation of companies and projects, redacting of equity research reports and participating in M&A transactions

Before joining 414 Capital, Gala worked at Sodexo

Ms. Snodgrass is an undergraduate in International Business Administration from Universidad Iberoamericana

Arturo Tirado joined 414 Capital as an IT Development Executive in 2015. His main tasks include the creation of applications that optimize the financial services the firm offers, as well as the management of technologic resources

Before joining 414 Capital, Arturo served as IT Director at Estacionamientos Pumasa -one of the largest parking solutions company in Mexico- where he created various tools and web applications to optimize the management and the operating processes

Mr. Tirado holds a Systems Engineering degree from TESE. He has more than 11 years of experience in the development of applications and information technology

Eduardo Torres joined 414 Capital in 2020 as a member of the administrative team. His main role centers around the implementation of processes and internal controls

Before joining 414 Capital he advised on corporate restructurings and due diligence of large corporates, and he was an accounting/fiscal advisor in firms which include ORBE Advisors and BDO Castillo Miranda

He holds a Bachelors Degree in Accounting and a Finance Certificate from UNAM