Former shareholders and executives of Chile’s Grupo Security acquire stakes in A&G

A&G has announced the addition of new partners to its ownership structure, namely former shareholders and executives of Chile’s Grupo Security, co-founded and chaired since 2022 by Renato Peñafiel, who recently stepped down from the boards of BICECORP and its subsidiaries.

This news follows the announcement made on March 26 regarding the entry of new partners into A&G, including some of the most prominent family offices in Spain and Latin America, among them another Chilean family, the Lería Luksics, through their family office Wild Sur. They had already taken a stake in 2022 and have now further increased their participation in this latest restructuring.

Renato Peñafiel brings extensive experience as a businessman, with more than four decades in the financial sector. Under his leadership as CEO of Grupo Security (a role he held since 1995), the firm diversified into banking, insurance, mutual funds, and brokerage. In 2022, he became chairman of the group, and in 2024 the company announced its merger agreement with BICE, a transaction formally completed in March 2025. Peñafiel submitted his resignation in mid-month from the boards of BICECORP and its subsidiaries, although he will remain a shareholder.

Other former partners of Grupo Security joining him as shareholders in A&G include Gonzalo Pavez Aro, current director of Grupo Sigdo Koppers, and Álvaro Vial Gaete, director at Detroit Chile. All of them have extensive professional and business careers. Also joining are two former senior executives of Grupo Security: its last CEO, Fernando Salinas Pinto, and Ignacio Prado Romani, former General Manager of Factoring Security, both with more than 25 years of experience in the financial industry.

Alberto Rodríguez-Fraile, Chairman and Founder of A&G, stated: “We are pleased to welcome the new partners, all of them entrepreneurs whom I value and with whom we share values and a business vision. I am confident that this partnership will bring new opportunities for all our clients.”

For his part, Renato Peñafiel said: “I feel especially honored to join a prestigious firm such as A&G and to take part in its development alongside other former shareholders and executives of Grupo Security. We hope to contribute with our experience in banking and the financial sector to its growth and diversification.”