OUR TEAM

After more than 10 years in a dynamic and collaborative environment, AZ Capital’s team combines a wide range of professional profiles and areas of expertise

Jorge Lucaya

Jorge Lucaya

Managing Partner

Jorge Lucaya is the managing partner of AZ Capital. Previously, Jorge worked as CEO of Morgan Stanley Spain (1991-2003) and was responsible for the Iberian M&A department of Chase Manhattan Bank (1984 – 1990).
Jorge holds a degree in Geography and History from Universidad de Navarra and a MBA from IESE, Barcelona.

Xavier Escudero

Xavier Escudero

Partner

Xavier Escudero is a partner of AZ Capital. Prior to joining AZ Capital, Xavier worked in Morgan Stanley’s Investment Banking Division in London and Madrid, where he focused on European energy companies and Spanish M&A.
Xavier holds a degree in Business Administration and MBA from ESADE business school, Barcelona.

Victor Mata

Victor Mata

Partner

Víctor Mata is a partner of AZ Capital. Prior to joining AZ Capital, Víctor worked in Morgan Stanley’s Investment Banking Division in London, where he focused on general M&A and financial institutions.
Víctor holds a degree in Civil Engineering from Universidad Politécnica de Cataluña and Master of Science in Management from HEC Business School, Paris.

Fernando Sebastián

Fernando Sebastián

Partner

Fernando Sebastián is a partner of AZ Capital. Prior to joining AZ Capital, Fernando worked in BBVA and N+1 Corporate Finance, where he advised on several M&A transactions.
Fernando holds a degree in Business Administration from CUNEF, Madrid.

Carlos Téllez

Carlos Téllez

Partner

Carlos Téllez is a partner of AZ Capital. Prior to joining AZ Capital, Carlos worked in Morgan Stanley’s Investment Banking Division in London and Madrid, where he advised on several M&A transactions. He also worked in N+1 advising family offices in corporate transactions.
Carlos holds a degree in Business Administration from CUNEF, Madrid.

Enrique Ugalde

Enrique Ugalde

Partner

Enrique Ugalde is a partner of AZ Capital. Prior to joining AZ Capital, Enrique worked in AB Asesores Morgan Stanley and N+1 in the Corporate Finance and Alternative Investments divisions. During his career, he has advised in a number of corporate transactions and led investments in several companies.
Enrique holds a double degree in Business Administration and Law from Universidad Pontificia de Comillas (ICADE, Madrid).

Francisco Boada

Francisco Boada

Partner

Francisco Boada is a partner of AZ Capital. Prior to joining AZ Capital, Francisco worked in Citigroup’s Corporate and Investment Banking Division in London, where he focused on transport and infrastructure companies, and then in Madrid, where he focused on general investment banking.
Francisco is an Industrial Engineer from Universidad Politécnica de Cataluña and MBA from Columbia Business School.

Javier Juliá

Javier Juliá

Partner

Javier Juliá is a partner of AZ Capital. Since joining AZ Capital in March 2005, Javier has been involved in transactions in the sanitary, renewable energy, internet and food & beverage sectors.
Javier holds a degree in Business Administration from Universidad Pontificia Comillas de Madrid (ICADE).

Enrique Salamero

Enrique Salamero

Partner

Enrique Salamero is a partner of AZ Capital. Since joining AZ Capital in September 2006, Enrique has been involved in transactions across a wide range of sectors including, amongst others, infrastructure, energy, restaurant and food & beverages.
Enrique holds a degree in Business Administration and Master in Management Development from Universidad Comercial de Deusto.

Silvia Collado

Silvia Collado

Director

Silvia Collado is a director of AZ Capital. Prior to joining AZ Capital, Silvia worked in KPMG’s Corporate Finance division in Madrid, where she focused on Valuations.
Silvia holds a degree in Business Administration from Universidad Pontificia Comillas de Madrid (ICADE).

Javier Latorre

Javier Latorre

Managing Director

Javier Latorre is Managing Director – Debt Advisory at AZ Capital. Prior to joining AZ Capital, Javier worked in Structured Finance Departments of  Caixabank, Banesto and The Chase Manhattan Bank, structuring Corporate Loans and LBO’s for National and International companies and Private Equities. He worked as well for Cintra (Grupo Ferrovial) being involved in the financing of Transportation Infrastructure Projects in Europe and America.
Javier holds a degree in Business Administration from Universitat Internacional de Catalunya and MBA from IESE, Barcelona

Juan Orbaneja

Juan Orbaneja

Managing Director

Juan Orbaneja is Managing Director – Capital Markets Advisory at AZ Capital. Prior to joining AZ Capital, Juan worked on the Investment Banking – Capital Markets division of some Investment Banks in London. He worked as well for PwC in the Audit and Transaction Services divisions in London and Madrid.

Juan holds a degree in Economic and Business Administration from Complutense University (Madrid) and Executive MBA from ESADE business school.

Ieneko Ortiz

Ieneko Ortiz

VP

Ieneko Ortiz is a VP at AZ Capital. Prior to joining the company, Ieneko formed a part of the team of the American fund TPG in London. Previously, he developed his professional career in the investment bank division at J.P. Morgan in London, where he worked in the infrastructure team.
Ieneko holds a degree in Business Administration from Deusto, Bilbao and a Master degree in Finance from ESADE, Barcelona.

Álvaro Smith

Álvaro Smith

VP

Álvaro works as a VP at AZ Capital. Prior to joining AZ Capital, Álvaro worked at BBVA’s Investment Banking division M&A department in Madrid, mainly focused in the energy and Infrastructure sectors.
Álvaro holds a Bilingual degree in Business Administration from CUNEF, Madrid.

Elías del Campo

Elías del Campo

Associate

Elias works as an associate at AZ Capital. Prior to joining AZ Capital, Elias worked at Nomura’s Investment Banking division in London, focused on M&A in the Consumer & Retail team. Elias also worked at the Strategy group of PwC.
Elias holds a degree in Business Administration from the University of Navarra, Pamplona.

Lluís Huguet

Lluís Huguet

Associate

Lluís Huguet is an associate at AZ Capital. Prior to joining AZ Capital, Lluís gained experience working in a team of investment banking of Deustche Bank in Spain and in a team of Real Estate of Blackstone in London.
Lluís holds a degree in Civil Engineering from Universidad Politécnica de Cataluña and a Master of Science in Management from HEC Business School, Paris.

Santi Llobet

Santi Llobet

Associate

Santi is an associate at AZ Capital. Santi joined the AZ Capital team as an intern and participated in transactions in the fields of fashion, chemistry and nutrition. Prior to joining the company, Santi worked in NewTech Capital, boutique specialized in fundraising and M&A for technological startups.
Santi holds a degree in Business Administration and a Master in Finance from ESADE, Barcelona.

Carlos Mata

Carlos Mata

Associate

Carlos Mata is an associate at AZ Capital. Prior to joining AZ Capital, Carlos gained experience at Renta 4 Bank, collaborating in investment funds management.
Carlos holds a double degree in Business Administration and Law from Universidad Pontificia de Comillas (ICADE, Madrid).

Xavier Queralt

Xavier Queralt

Associate

Xavier Queralt is an associate at AZ Capital. Prior to joining AZ Capital, Xavier gained experience in the corporate development department at N+1 in Madrid and at BNP Paribas in Paris.
Xavier holds a degree in Business Administration from ESADE, Barcelona.

Amaia Alcelay

Amaia Alcelay

Analyst

Amaia Alcelay is an analyst at AZ Capital. Prior to joining AZ Capital, Amaia gained experience in the management consulting firm The Boston Consulting Group in Madrid.
Amaia holds a Bachelor’s and Master’s Degree in Industrial Engineering from Universidad Politécnica de Cataluña and a Master of Science in Management and International Finance from HEC Business School, Paris.

Raúl Burgos

Raúl Burgos

Analyst

Raúl Burgos is an analyst at AZ Capital. He joined the team as an intern and participated in transactions in the telecommunications and education sectors. Prior to joining AZ Capital, Raúl worked in Strategy&, strategy consulting firm of PwC.
Raúl holds a double degree in Business Administration and Law from Universidad Pontificia de Comillas (ICADE, Madrid).

Ángel Caro

Ángel Caro

Analyst

Ángel is an Analyst at AZ Capital. Prior to joining AZ Capital, Ángel gained experience in the Transactions department at KMPG and in the M&A department at PJT Partners, both in Madrid.
Ángel holds a Law and Business Administration degree from University of Granada and an Msc in Finance and Investment from The University of Edinburgh.

Adrián Dhanwani

Adrián Dhanwani

Analyst

Adrián Dhanwani is an analyst of AZ Capital. Before joining AZ Capital, Adrián gained experience in the Corporate Finance department at PwC. Prior to that, Adrián worked at Deutsche Bank and at the Bank of Spain.
Adrián holds a doble degree in Business Administration and Law from CUNEF, Madrid.

Miguel González

Miguel González

Analyst

Miguel González is an analyst of AZ Capital. Prior to joining AZ Capital, Miguel gained experience in the analysis and asset management department of private banking in Fineco.

Miguel holds a double degree in Business Administration and Industrial Technology Engineering (Exceptional Career Award) from Universidad de Deusto, Bilbao.

Laura Veiga

Laura Veiga

Analyst

Laura Veiga is an analyst of AZ Capital. Before joing AZ Capital, Laura gained experience in the Global Markets department at HSBC and in SICAVs management team at BBVA, both in Madrid. Prior to that, Laura worked in Corporate FX at RationalFX London.
Laura holds a degree in Business Administration from Universidad del País Vasco, a Master of Science in Banking and International Finance from Cass Business School in London and a Master in Portfolio Management from IEB Madrid.

Enrique Larscorz

Enrique Larscorz

Analyst

Enrique Lascorz is an analyst of AZ Capital. Prior to joining AZ Capital, Enrique gained work experience in investment banking at BBVA in Paris and strategy consulting at AT Kearney in Madrid.
Enrique holds a degree in Civil Engineering from Universidad Politécnica de Cataluña and Master of Science in Management from HEC Paris.

Carlos Lobejón

Carlos Lobejón

Analyst

Carlos Lobejón is an analyst of AZ Capital. Before joining AZ Capital, Carlos gained experience in investment banking at Socios Financieros and Beka Finance. Additionally, he worked at Castellana 93 (Private Equity).
Carlos holds a degree in Business Administration from CUNEF, Madrid

Patricia Ruiz Bellew

Patricia Ruiz Bellew

Executive Assistant

Patricia joined AZ Capital in May 2014 from Campofrío Food Group, where she worked as an Executive Assistant to the CEO. Prior to that Patricia worked for Lehman Brothers in London and as an Executive Assistant to the Chairman of Altadis, S.A.
Patricia holds a diploma on International Secretarial Studies from Mary Ward College and in Gemology from the Spanish Institute of Gemology.

Sílvia Martí

Sílvia Martí

Office Manager

Sílvia joined AZ Capital in 2015. Before joining AZ Capital team, Sílvia worked for Montblanc Iberia as a General Service Manager. Prior to that, Sílvia worked for Schneider Electric España as a Reception Manager.
Sílvia holds a diploma on Secretarial Studies from C.E.P. Monlau.

Lisbeth Briceño

Lisbeth Briceño

Office Manager

Lisbeth joined AZ Capital in March 2019. Prior to joining the AZ Capital team, Lisbeth worked for a Spanish subsidiary of an Argentinean company as a Finance Director and in the Tax Compliance Department at Auxadi. Lisbeth holds a degree in Accounting from the University of Andes in Venezuela and subsequently homologated her degree in Spain to Business Management .
Lisbeth holds a Master’s degree in  Auditing and Account Management both from Centro de Estudios Financieros (CEF) Madrid.