Panama Diamond Exchange Appoints Two LatAm Directors

(IDEX Online) – The Panama Diamond Exchange has announced that two leaders of the Latin American gemstone and jewelry industry have been named directors of the organization.

They are Hecliton Santini Henriques, President of Instituto Brasileiro de Gemas e Metais Preciosos (IBGM), Brazil's leading gem and jewelry trade association; and Dr. Luciano Pataro, the founder and director of Gold America S.A. in Panama.

"As a diamond exchange that has been established with the express purpose of serving the entire area of Latin America, it is imperative that the region's industry be well represented among our leadership," said Eli Izhakoff, Founding Chairman of the Panama Diamond Exchange. "Mr. Henriques and Dr. Pataro are two such individuals, respectively representing one of the largest industries and markets in the Latin America, and the gold and jewelry trading sector in Panama. We are delighted to have them on board."

The two new directors join other principal industry leaders who have been named PDE directors, including Ernest Blom, President of the World Federation of Diamond Bourses; Gaetano Cavalieri, President of CIBJO, the World Jewellery Confederation; Maxim Shkadov, President of the International Diamond Manufacturers Association; Avi Paz, Honorary Life President of the World Federation of Diamond Bourses and the Israel Diamond Exchange; Roberto Coin, a leading Italian jewelry designer and producer; Shmuel Schnitzer, President of the Israel Diamond Exchange and Hon. Life President of the World Federation of Diamond Bourses; and Reuven Kaufman, President of the Diamond Dealers Club of New York. Two additional directors will be announced shortly, thus completing the composition of the board.

Hecliton Santini Henriques is the President of Instituto Brasileiro de Gemas e Metais Preciosos (IBGM), the Brazilian Gems and Jewelry Trade Association, which represents the entire gems and jewelry sector in Brazil from mine to consumers, having first been appointed to the position in 1998. In 2011 he received ICA's Lifetime Achievement Awards for service to the colored gemstone industry.

Meanwhile, Dr. Luciano Pataro is a Panamanian entrepreneur, specializing in the wholesale distribution of gold and jewelry. He is the second generation of a family which has worked in the sector since 1948. Dr. Pataro is President of MP Diamonds & Jewelry, S.A.

The Panama Diamond Exchange will anchor the $200 million Panama Gem & Jewelry Center, which is the largest and most ambitious development project ever undertaken on behalf of the jewelry and gemstone trades in Latin America. Serving as a trading hub for both regional and international companies, the center will serve a market that today is worth $8 billion, and comprises 11,500 retail jewelry outlets located in 20 countries and 23 islands.

The entire complex will be located in the Vaguil Free Zone, which was established by an act of the Panamanian parliament for the benefit of the international gem and jewelry trade, and exempts transactions conducted within its area from payments of customs duties and taxes, and corporations registered in the Free Zone from paying company tax.