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Private company

Fierro Group

Spanish banking and industrial company

The IF Group, also known as Grupo Iberoamericano de Fomento or Grupo Fierro, is an economic group that originated in Spain and has investments in Spain and Latin America, mostly in the industrial and financial sectors. Ildefonso Fierro, a prominent Spanish businessman, founded the Fierro Group. The group is worth over US$4 billion with an annual net income in excess of US$300 million.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

  • Industryindustry1
  • HeadquartersSpain1

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The IF Group, also known as Grupo Iberoamericano de Fomento or Grupo Fierro, is an economic group that originated in Spain and has investments in Spain and Latin America, mostly in the industrial and financial sectors. Ildefonso Fierro, a prominent Spanish businessman, founded the Fierro Group. The group is worth over US$4 billion with an annual net income in excess of US$300 million. The Fierro Group started operations in Peru in 1961 by installing a match factory, a product in which they are a world leader. In 2001 the Fierro Group in Peru was led by Manuel Isabal Roca and consisted of 18 companies, including Banco Interamericano de Finanzas (BIF), Fosforera Peruana, Tabacalera Nacional, Aval, Representaciones Alpamayo, Filtros del Perú, Destilería Peruana, Tabacalera del Sur, Industrial Cartavio, Verona Trading, and Fosforera La Llama, employing around 5,000 staff between them.2

The story

In Ecuador, on October 24, 1958, Ignacio Fierro founded the company Fosforera Ecuatoriana S.A. (FESA).

In 1991 in Venezuela, the group owned Tabacalera Nacional (TANASA), today owned by Philip Morris, Fosforera Suramericana, Alimentos La Giralda, and Banco Exterior.

In August 2013, Francisco "Paco" Roche Navarro retired as leader of the Grupo IF banking division. Ex-BBVA Vicente de la Parra was brought in to lead the banking division. The Banks are composed of Banco Exterior (Venezuela), Banco Internacional (Ecuador), EBNA Bank (Curaçao), Interbanco (Guatemala), and BanBif (Peru).

Other companies created include Tabacalera Nacional S.A. (Tanasa), acquired fully by Philip Morris in 2005; Seguros Cervantes; Grafandina S.A.; Industria Licorera Iberoamericana S.A. (ILSA); and PetroSud (Consorcio PetroSud-PetroRiva). In 2008 the leader of the Fierro Group in Ecuador was José Enrique Fuster Camps.

From Wikipedia’s article on Fierro Group, shared under CC BY-SA 4.0.3

Sources

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