Executive team

Executive Experts
IBG Group

With more than 15 years of experience in the cable transport sector, IBG Group brings together a highly qualified team of professionals specializing in finance, socio-economic impact assessments, environmental studies, legal and commercial advisory, demand analysis, database management, origin–destination studies, master planning, and road impact assessments, among other areas.

This multidisciplinary expertise enables IBG Group to deliver comprehensive, innovative, and sustainable solutions for complex infrastructure and urban mobility projects, ensuring technical excellence and long-term value creation.

Sergio Flores
CEO – IBG Group

MBA / MAE / BA – Brigham Young University, Texas A&M University, UCB – Harvard HIID

Senior executive with more than 30 years of international experience in business management, infrastructure, and economic development projects across multinational corporations, public institutions, and international organizations in Europe, Latin America, and the United States.

He has demonstrated expertise in leading large-scale infrastructure projects, including urban transportation systems, managing multi-billion-dollar budgets, and overseeing cross-sector strategic planning. Recognized for delivering high-impact, actionable solutions throughout all stages of complex project lifecycles— from feasibility assessments and business planning to financial modeling and regulatory compliance.

Sergio Flores was a pioneer of the La Paz (Bolivia) Cable Car System project, being responsible for all technical and financial studies that supported its implementation.

He also has extensive leadership experience in economic policy and public finance, providing high-level planning, evaluation, and execution of institutional reforms with international organizations such as the IDB, WB, and IMF.

Gilberto Hurtado
CEO LATAM – IBG Group

Economist | Master’s in Public Policy | PhD in Business Administration – Spain

Gilberto Hurtado Sandoval is an accomplished executive with more than 20 years of experience in business and public management. He has served as a member of over 15 boards of directors, including EcoFuturo Bank, IDEPRO IFD, AMETEX, Liliana Castellanos, Andean Valley, and Nueva Economía.

Throughout his career, he has held senior leadership roles in both the private and public sectors. He was Executive President of Vanguardia SRL (Liliana Castellanos), Executive President of FIKAGROUP S.A., and Director of Economic Regulation at the Superintendence of Telecommunications. He is also an international expert in socio-economic studies of urban transport.

Currently, he is an entrepreneur with shareholdings in multiple industries, including textiles (Vanguardia SRL), food (FIKAGROUP, Andean Valley, IBG Group, Arami Restaurant), and services (Bolivian Entrepreneurs SRL).

Tania Andonie
General Manager – IBG Group (Central America)

B.A., Universidad Tecnológica Centroamericana (UNITEC); Specialization in Project Management – Kenna School of Business, Saint Vincent College

Executive with over 20 years of experience in the financial and sales sectors, leading teams of more than 30 executives and consistently achieving annual revenue growth exceeding 15% for the organizations under my management.

I provide consulting services to start-ups, assisting them in implementing accounting, administrative, and operational processes, particularly within the food industry.

Skilled in finance, operations, and business management, I focus on process simplification, business effectiveness, and enhancing the customer experience. I perform well under pressure, take a results-oriented approach, and am proactive, responsible, and highly committed.

Participated in the La Paz–El Alto Urban Cable Car Project (Bolivia), supporting the CEO of IBG Group with project documentation management.

Responsible for overseeing the translation of technical and legal documents between English and Spanish, ensuring clarity, accuracy, and proper documentation of all studies.

Álvaro Del Castillo
Studies Coordinator – LATAM

Holds an Industrial Engineering degree from Federico Santa María Technical University (Chile), an MBA in Finance from the University of Santiago de Chile, and a Master’s in Management and Public Policy from the Bolivian Catholic University – HIID.

Álvaro Del Castillo is a senior executive with over 30 years of experience in strategic leadership, international cooperation, and multi-sector program development across public, private, and academic sectors.

He specializes in infrastructure management, with extensive expertise in the transportation and energy sectors. His strategic analysis and sustainable planning solutions enable the design and execution of complex infrastructure projects that align sectoral objectives with both public policy and private interests.

Álvaro is highly skilled in conflict management and stakeholder engagement, facilitating effective collaboration among diverse actors. His international project management experience strengthens the coordination of initiatives that build strong partnerships among the private sector, academia, and civil society, fostering strategic and sustainable development.

Víctor Miranda
Executive Assistant – IBG Group

With more than thirteen years of experience in the cable transport sector, Víctor Miranda has built a solid track record through his participation in the La Paz–El Alto Urban Cable Car Project in Bolivia, contributing in key areas such as quality control, document management, technical coordination, and support in the implementation of strategic processes.

He holds a degree in Business Administration and has three years of professional experience in the management of private companies, which has strengthened his skills in organizational management, financial analysis, and corporate operations.

This combined background has provided him with specialized knowledge in the management of complex infrastructure projects with high social impact. Currently, he serves as Executive Assistant to the CEO of IBG Group, directly supporting corporate management, monitoring international projects, and coordinating strategic activities with internal teams and external partners.

His profile combines technical expertise in cable transportation systems with executive skills in planning, organization, and decision support, contributing to the growth, positioning, and expansion of IBG Group in the United States and Latin America.

IBG Group
Technical Expertise and Services

In addition, IBG Group integrates a multidisciplinary team of senior professionals from France, Colombia, Peru, Mexico, Bolivia, Paraguay, Honduras, and the United States, with extensive expertise in the design, evaluation, and implementation of infrastructure and transport projects on an international scale.

Our technical portfolio covers a wide range of specialized studies and consulting services, including:

• ➤ Transport Demand Studies: Modeling, forecasting, and analysis of passenger and freight demand using advanced statistical and econometric tools to ensure accuracy in long-term projections.
• ➤ Socio-Economic Assessments: Cost–benefit analyses, evaluation of social and environmental externalities, and quantification of economic returns to determine project viability and optimize resource allocation.
• ➤ Road Impact Studies: Detailed simulations of traffic flows, capacity analysis, safety assessments, and integration of new infrastructure into existing networks to minimize congestion and disruptions.
• ➤ Expropriation and Land Acquisition Studies: Legal, technical, and financial evaluations for land requirements, negotiation strategies, and mitigation of social impacts associated with resettlement processes.
• ➤ Feasibility and Pre-Investment Studies: Comprehensive technical, economic, and environmental evaluations serving as the foundation for decision-making and project financing.
• ➤ Operational and Maintenance Engineering: Design of management models, preventive maintenance strategies, and lifecycle cost optimization to ensure system reliability and sustainability.
• ➤ Construction and Implementation Studies: Technical specifications, risk management, and supervision methodologies for efficient project delivery.
• ➤ Institutional and Management Structures: Design of governance models, regulatory frameworks, and organizational structures for effective project administration.

This holistic and technical approach enables IBG Group to provide integrated, evidence-based, and sustainable solutions across all project stages—from conceptualization and feasibility to execution, operation, and long-term maintenance.