September – Dominicans on Wall Street (DOWS) along with the Semana Dominicana US committee, proudly hosted the 7th Annual DOWS-Semana Dominicana US, held on Sept 23, at One Liberty Plaza in New York City.

The conference, by all accounts a resounding success, delivered to over 150 attendees a blend of industry insight and corporate knowledge around the theme “2010 Macro Overview of DR Capital Markets.”

The event brought together professionals, students and corporate leaders from the Dominican Republic and the U.S.  This year’s speakers included Franco Uccelli, Executive Director at JP Morgan Chase’s Emerging Market Research; Bernardo Fuentes, CEO and founder of Economi-K; Rafael Toribio, CFO of Industrias Nacionales (INCA); and Darys Estrella, CEO of the Bolsa de Valores RD (The Dominican Republic’s Stock Exchange).

Guest speakers engaged the audience on topics that included a review of the Dominican Republic’s economy, its fixed income market, financing alternatives, market challenges and opportunities.  For instance, the CEO of the DR Stock Exchange, Darys Estrella, provided a strategic review of the DR’s debt capital markets, and explained how alliances with local business schools and government institutions is expected to enhance the investment culture in the Dominican Republic.

During the event, the dean of Universidad Pro-Educación y Cultura (UNAPEC)  Justo Pedro Castellanos Koury, honored two successful and influential Dominican professionals with a long track record of contributing to the development of the Dominican community in the U.S.  The awards went to Frank Gutierrez, Vice President at JP Morgan Chase Asset Management and Enmanuel Martinez, Assistant Vice President at Barclays Capital’s Sales and Trading.

The conference was followed by a networking event at Salud Restaurant & Bar (NYC’s South Street Seaport), where attendees had an ideal opportunity to exchange views, while enjoying appetizers and Presidente, a beer that is considered to be a Dominican icon.

May – close to 20 professionals from DOWS and related organizations visited the Gregorio Luperón High School and met with students where rich conversations were held and mentoring assignments were given.

The professionals shared experiences and points of view in topics these young students are not yet exposed to in their day-to-day lives and provided suggestions on how to get ahead and start preparing in order to enter their respective professional lives.

The students received feedback from a broad scope of professional profiles of the finance industry. Among them were financial analysts, financial advisors, treasurers, traders, CFOs, investment bankers and leaders in their respective field. All of them came from different places and had different backgrounds, however, one thing held common; they were all Dominicans or Dominican-Americans.


October – Semana Dominicana Event Highlighting the Dominican Capital Markets

June – Gregorio Luperón High School Career Day.

March – George Washington High School Career Day.


December – DOWS Second Annual Holiday Dinner Party at Hispaniola Restaurant

September – Semana Dominicana Event Highlighting the Dominican Economy and the Credit Crunch

May/June – Gregorio Luperon and George Washington High Schools Career Days.


December – DOWS First Annual Holiday Dinner Party at Brasserie 54.

October – In collaboration with Alianza Domincana, DOWS co-sponsored the US launch of the book entitled Intrahistoria del DR-CAFTA (History of the DR-CAFTA), written by Sonia Guzmán de Hernández, ex-Secretary of Commerce and Industry for the Dominican Republic.

September - Semana Dominicana panel entitled “The Development of the Dominican Mortgage Market via the Local Capital Markets and the Pension Fund Assets as a Facilitating Instrument.”

May – Career Day at George Washington High School.

April – Participation in the Mix and Mingle event sponsored by Hispanic Federation.

March – Networking event at Piano Due.


In February, DOWS hosted a reception network entitled “Breaking The Glass Ceiling” at Moody’s Investors Service with keynote speaker Michelle Caruso-Cabrera, CNBC TV-anchor.


In November, DOWS pioneered a Volunteer Program at the George Washington High School’s Academy of Finance and International Business.
In May, DOWS members participated in Career Days at George Washington High School and Gregorio Luperon School in conjunction with the Dominican American Professional Alliance (DAPA) and the Dominican Bar Association (DBA).
In June, DOWS participated in a luncheon at City College, where keynote speaker President Leonel Fernandez presented his support to the DR-CAFTA treaty.
In July, Daisy Dominguez and Cid Wilson were featured in Poder, an online business magazine.
In September, DOWS organized the second annual conference co-sponsored with Semana Dominicana in New York City, “The Dominican Diaspora and the Debt Capital Markets.” Speakers included Mr. Julio Ortega, Chief Trading Negotiator, Government of the Dominican Republic; Mr. Carl Ross, Managing Director of Bear Stearns; Mr. Benjamin Ramsey, Research Analyst, JP Morgan; Mr. Mauro Leos, Vice-President, Moody’s Investors Service; and Mrs. Carmen Cristina Alvarez, Executive Vice-President, Banco Hipotecario Dominicano (BHD).
DOWS additionally organized a panel entitled “Challenges and Opportunities under DR-CAFTA for the Dominican Republic” as part of Semana Dominicana. The event was held at Lehman Brothers and included the following speakers: Mr. Luis Heredia Bonetti, President of Semana Dominicana; Mr. Kevin Manning, President of the American Chamber of Commerce of the Dominican Republic; Mr. Frederic Emam-Zade, Director of the Fundacion Global Democracia y Desarollo (FUNGLODE); Mr. Vivtor Cabral Amiama, Executive President of Cap Cana; Mr. Arturo Peguero, President Asociacion Dominicana de Zonas Francas (ADOZONA); and Mrs. Carmen Cristina Alvarez, Executive Vice-President, Banco Hipotecario Dominicano (BHD).

Election of new officers: Daisy Domínguez, President; Juan Arturo Herrera as Vice-President, Robert Abreu as Secretary and Carlos Carela as Treasurer. Additionally, Miguel Arnaud was selected as President of the Social Networking/Fundraising Committee. DOWS’ Board includes Josefa Sicard-Mirabal (Chairwoman), Darys Estrella, Juan Hache, Emmanuel Martínez, Giovanni Sanchez, and Cid Wilson.


Darys Estrella and Cid Wilson were featured in Mujer Latina Magazine and Black Enterprise Magazine, respectively. DR1, an English version news provider for the Dominican Republic echoed this news by including it as part of its daily information broadcast. On February 27, Darys Estrella and Cid Wilson attended a reception at the White House celebrating the Dominican Republic Independence Day.
In March, DOWS members visited the Dominican Republic, marking this the second official trip to the country. The visit included a presentation on the capital markets to the Dominican business community, a meeting with current President Hipolito Mejía, an informational visit to Fundación Global Democracia y Desarrollo (FUNGLODE), an educational forum about the capital markets led by DOWS members at a local university, and visits to local private high schools.
DOWS was profiled in a cover story of Revista Mercado, a leading business magazine in the country. DOWS presented its website to the general public.
DOWS partnered with the organizers of Semana Dominicana in New York City by hosting a panel discussion entitled “The Dominican Diaspora and the Dominican Capital Markets – Development and Future”. Key speakers included: Mr. Haivanjoe NG Cortiñas, Superintendent of the Suerintendencia de Valores de la Republica Dominicana; Mr. Georges Santoni Recio, attorney at Russin, Vecchi and Heredia Bonetti; Ms. Maria Elizabeth Rodriguez, Project Manager of the Fundación Global Democracia y Desarrollo (FUNGLODE); Mr. Diego Torres Martín, Vice-President of COTISA Puesto de Bolsa; and Mr. Luis Mejía Brache, Business Manager for PROVALORES, S.A. de Puesto de Valores.


Election of new officers: Darys Estrella, President; Lia Porcella and Cid Wilson as Co-Vice-Presidents, Giovanni Sanchez remained as Treasurer and Emmanuel Martinez, as Secretary. DOWS’ Board: Benito Abad, Darys Estrella, Lia Porcella, Giovanni Sanchez, Josefa Sicard-Mirabal (Chairwoman), Cynthia Vega and Cid Wilson.
Giovanni Sanchez spoke at Baruch College in February 2003 in celebration of Dominican Independence activities.

The Board and members were invited by Francesca Peña, principal of George Washington High School of Business and Finance, to participate in their annual Career Day. DOWS members spoke to students about their academic preparations, careers in business or law, and working on Wall Street.
DOWS members attended a seminar offered by Cámara de Comercio y Producción de Santo Domingo (”CCPSD”) in which CCPSD expressed its intentions to extend trade relations between the City of New York and Santo Domingo. DOWS members expressed their commitment to the development of the capital markets in the Dominican Republic.

In celebration of the Hispanic Heritage Month in the United States, DOWS held a reception in conjunction with Citigroup to present an award to one of its members, Juan Hache, Director at Citigroup, for his many years of leadership in Wall Street and for being a Dominican pioneer in the industry.
DOWS members attended the annual Dominican American National Roundtable in Atlantic City, N.J. Darys Estrella and Emmanuel Martinez participated in a panel focusing on economic development and spoke on the benefits of financing via the capital markets. During this event, DOWS’ members spoke with former President Leonel Fernandez, who expressed an interest in meeting with the DOWS membership and drafting a strategy to be used as a model of development for the capital markets in the Dominican Republic.


In separate meetings, Josefa Sicard-Mirabal met in the Dominican Republic with President Hipolito Mejia, Frank Guerrero Prats, Governor of the Central Bank, and Fernando Alvarez-Bogart, incumbent Finance Minister, to discuss, among other things, DOWS and its prospective future assistance to the Dominican Government.
Giovanni Sanchez, Josefa Sicard-Mirabal, Cynthia Vega and Cid Wilson were interviewed by Bloomberg News to discuss, among other things, DOWS’ mission.


Cynthia Vega and Cid Wilson spoke at the Dominicans 2000: Building Our National Agenda Conference in February 2001 on the topic of economic development.


DOWS was incorporated. The Board was elected: Benito Abad, Darys Estrella, Lia Porcella, Josefa Sicard-Mirabal (Chairwoman of the Board) and Cid Wilson. The officers: Josefa Sicard-Mirabal, President, Lia Porcella, Vice-president, and Giovanni Sanchez as Secretary and Treasurer.

DOWS participated in a luncheon sponsored by Tricom with the PLD presidential candidate, Danilo Medina.
Josefa Sicard-Mirabal and Cid Wilson took a group of fifth grade students from Wadley Secondary School of Harlem to the NYSE and explained the ins and outs of the stock market. The visit and an subsequent interview of Board members were televised by Channel 4.

Ms. Sicard-Mirabal and Mr. Wilson were part of a special program aired by Channel Thirteen, as representatives of the Dominican professional community in the United States: “The Dominican American Spirit”.
Lia Porcella and Cid Wilson spoke at the Dominican American National Roundtable Conference in October 2000.


DOWS held a breakfast at the New York Stock Exchange (”NYSE”), sponsored by TRICOM, with the Dominican presidential candidate for the PRD, Hipolito Mejia and some of his key advisors. Josefa Sicard-Mirabal introduced DOWS, its goal and addressed the US capital markets. This was the first time, (according to Mr. Mejia) that the issue of sovereign bonds was ever presented to him. A couple of months later, Mr. Mejia’s children, in coordination with DOWS, visited NEW York City to learn about the NYSE, visit with investment banks, and learn the legal aspects of public placements, sovereign debt issue, and the U.S. financial markets, in general.
DOWS participated in the Dominican American Chamber of Commerce Gala reception.
DOWS attended Dominican Week 1999 organized by the Dominican American Chamber of Commerce (DACC).


In March of 1998, DOWS made its debut in the Dominican Republic in a seminar sponsored by OPI. In attendance were principal executives of firms, banks and public sector agencies. Members of the DOWS Board spoke about the US markets and possibilities for Dominican companies in the capital markets, with Tricom as a case study. Marcos Troncoso and Carl Carlson, VP and CFO, respectively, of Tricom were speakers.

DOWS’ members were invited to speak in a host of television programs about introducing the country and its economic agents to the international capital markets.

DOWS met with the incumbent President of the Dominican Republic, President Leonel Fernandez, to present the organization’s mission of providing assistance in the development of the Dominican capital markets. DOWS participated in a dinner in its honor offered by Tricom. Ivan Jimenez and Josefa Sicard-Mirabal spoke at a business seminar focused on the tri-state area sponsored by el diario La Prensa.

DOWS held a breakfast for the incumbent Dominican Ambassador to Washington – Bernardo Vega in New York City. In this meeting, DOWS expressed its commitment and desire to assist and participate in the Dominican Republic’s efforts for active involvement in the new trends of the global economy.


Dominicans on Wall Street, Inc. (DOWS) was founded by Josefa Sicard-Mirabal, a New York attorney, while working on a private placement for Tricom, Dominican telecommunications company. Messrs. Marcos Troncoso, VP of Tricom and and Eddy Martinez, Executive Director, Oficina de Promoción de Inversiones Extranjeras, (“OPI”) nurtured the idea assiting her in compiling a list of Dominicans working on Wall Street.

On October 3, 1997, at a breakfast at The Council of the Americas in New York City sponsored by OPI, the original acting Board of Directors for DOWS was elected, (Benito Abad, Darys Estrella, Lia Porcella, Ivan Jimenez and Josefa Sicard-Mirabal). Officers were later elected; Josefa Sicard-Mirabal as President, Ivan Jimenez as Vice-President and Giovanni Sanchez as Secretary/Treasurer