Gustavo Marturet M.
About Gustavo Marturet M.
Independent director at Amerant Bancorp Inc. (AMTB), age 59, serving on the Board since 2015, with extensive banking, wealth management, and capital markets experience. He holds a Master’s in International Economics (Yale), a Master’s in Management (Hult), and a Bachelor’s in Economics (Universidad Católica Andrés Bello); previously obtained NASD Series 7/66/24 licenses (inactive) . Current AMTB committee memberships: Compensation and Human Capital Committee, Audit Committee, and the Bank’s Trust Committee; classified by the Board as independent under NYSE rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Amerant Bank, N.A. | Head of Private Banking & Asset Management | 2008–2012 | Led wealth management/private banking capabilities |
| Amerant Investments, Inc. | President & CEO | 2002–2010 | Oversight of broker-dealer functions |
| Unison Asset Management, LLC (Canepa subsidiary) | CEO & Co-Portfolio Manager | 2016–2021 | SEC-registered equity fund; co-founded |
| Canepa Equity Select Fund | Portfolio Manager | 2012–2017 | Portfolio management |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mercantil Servicios Financieros Internacional | Director | Since 2025 | Financial services board oversight |
| Mercantil Servicios Financieros | Director | 1997–2018 | Financial services governance |
| Canepa Funds ICAV (Dublin) | Director | 2012–2017 | Fund governance |
Board Governance
- Independence: Board determined Gustavo Marturet M. is independent under NYSE standards; a disclosed family employment relationship does not affect independence per NYSE 303A.02(b) tests .
- Committee assignments (as of 2025): Audit; Compensation & Human Capital; Trust Committee (Bank) .
- Attendance: In 2024, all directors (other than Mr. Quelch) attended at least 75% of aggregate Board and committee meetings; the Board met 18 times and held 4 independent executive sessions . In 2023, Marturet’s attendance fell below 75% for Board (73%) and certain committees due to a documented medical leave; he attended 100% of Audit Committee meetings during his tenure that year .
- Election results (signal of investor confidence): At the May 7, 2025 annual meeting, he received 22,950,582 For, 5,227,887 Against, 14,222 Abstain votes; all nominees were elected .
- Related-party governance: Audit Committee reviews and approves related-party transactions; disinterested members must review if a member is not disinterested .
Fixed Compensation
| Component | 2024 Structure | 2024 Amount (Marturet) |
|---|---|---|
| Board cash retainer | $46,000 cash, paid monthly | $46,000 |
| Audit Committee membership | $12,000 cash per membership | $12,000 |
| Compensation Committee membership | $10,000 cash per membership | $10,000 |
| Trust Committee (Bank) membership | $5,000 cash | $5,000 |
| TOTAL FEES (Cash) | — | $73,000 |
Notes: Committee chair and LID retainers exist but do not apply to Marturet; LID and chair retainers were increased effective Jan 1, 2024 .
Performance Compensation
| Equity Award | Grant Value/Units | Grant Date | Vesting | Notes |
|---|---|---|---|---|
| Annual director RSUs | $65,000 grant value | May 8, 2024 | 1-year cliff; vests on first anniversary, contingent on service through 2025 annual meeting | Stock-settled RSUs (2,854 units granted to each director except Mr. Quelch) |
| Outstanding as of 12/31/2024 | 2,854 RSUs unvested | — | Vests in 2025 | Outstanding awards disclosure |
No director performance metrics (e.g., TSR/ROATCE) apply to director RSUs; these are time-based awards .
Other Directorships & Interlocks
| Company | Listed? | Role/Committee | Potential Interlock Risk |
|---|---|---|---|
| Mercantil Servicios Financieros Internacional | Not specified as U.S.-listed | Director | Financial services proximity; AMTB policy requires ordinary-course terms for any banking transactions with related entities |
| Mercantil Servicios Financieros | Not specified as U.S.-listed | Former Director | Historical ties; independence affirmed |
| Canepa Funds ICAV | Non-U.S. fund platform | Former Director | Asset management exposure |
Compensation Committee interlocks: None requiring disclosure in 2024; committee members noted, with Marturet’s family employment disclosed (see Related Parties) .
Expertise & Qualifications
- Wealth and portfolio management; U.S. capital markets; international private banking .
- Education: Yale (International Economics), Hult (Management), Universidad Católica Andrés Bello (Economics); NASD Series 7/66/24 (inactive) .
- Skills map: Finance/accounting and financial services/banking are core Board skill priorities; Marturet contributes in these domains .
Equity Ownership
| Metric | As of Mar 14, 2024 | As of Mar 10, 2025 |
|---|---|---|
| Class A Voting common shares beneficially owned | 52,433 (<1%) | 55,287 (<1%) |
| Class A Non-Voting common shares beneficially owned | 23,622 (<1%) | 23,622 (<1%) |
| Pledged shares (indirect attribution via family-controlled companies) | ~4,495 voting shares pledged as loan collateral | ~4,495 voting shares pledged as loan collateral |
| Outstanding director RSUs (unvested) | 2,854 units | — |
Stock ownership guidelines: Non-employee directors must hold shares equal to 4x annual cash retainer; monitoring by Compensation Committee; five-year compliance window, retain 50% of net after-tax shares until met .
Governance Assessment
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Strengths
- Independent director with deep banking/wealth management background; serves on Audit and Compensation committees, aligning expertise with core oversight areas .
- Attendance normalized in 2024 (≥75%); proactive Board education and robust governance processes (annual evaluations; third-party assessments planned) .
- Director compensation is balanced between cash and stock; standardized RSU vesting promotes alignment; clear ownership guidelines .
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Related-party/Conflict Management
- Brother-in-law employed by AMTB; compensation ~$240,000 (2023) and ~$300,000 (2024); not an executive officer; independence explicitly affirmed; transactions subject to Audit Committee review under policy .
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RED FLAGS
- Shares pledged as collateral: approximately 4,495 Class A voting shares (indirect attribution via family entities) are pledged; AMTB’s Insider Trading Policy was updated in May 2024 to prohibit pledging by employees/directors, raising potential compliance and alignment concerns despite indirect attribution .
- Relative shareholder support in 2025: Marturet’s “For” votes were lower than most peers (22.95M For vs ~27–28M for several nominees), which may indicate investor scrutiny; continued engagement advisable .
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Additional signals
- Say-on-pay approval: 2024 approval at 79.3% led to investor outreach and changes to LTIP metrics (PSUs moved to ROATCE with TSR modifier in 2025), showing responsiveness by Compensation Committee (Marturet is a member) .