José Ignacio Morales Plaza

Mr. Morales is currently the Managing Partner of Terrano Capital, a fund specialized in Real Estate investments. Before joining Terrano, he has been until October 2023, the Chief Executive Officer (CEO) of Vía Célere, the largest home builder in Spain with 2,3 Bn EUR of assets under management. He joined Vía Célere in November 2018 as CFO of the Group and in June 2019 was promoted to CEO. Previously, he was heading the Strategy & Business Development department of Sener Group, the largest privately-owned engineering & construction company in Spain. Before that, Mr Morales was the Corporate CFO of Sener Group for a decade. He has served as a Board Member in different companies: Masaveu Group (the largest industrial investor in Spain); Masaveu Inmobiliaria (REIT with assets above 2 Bn EUR worldwide), ITP (aerospace sector), Sener Group (engineering), Torresol Energy (renewable energy joint venture with the sovereign fund Mubadala) and Vía Célere (owned by a few private equity firms).

Before that, Mr. Morales has worked in investment banking (BBVA), the pharmaceutical industry (Hoffmann La Roche) and in consulting (PwC). He has more than twenty years of experience in diverse fields of management, strategy, business development, corporate finance and large real economy investments. Morales has held the previous positions in Spain, Switzerland and USA.

He also sits on several Advisory Boards related to activities in the financial sector (Instituto Español de Analistas Financieros, Certificado de Experto en Valoración de Empresas, etc.). He is a professor of different financial subjects in a few of the most reputed business schools in Europe.

Corporate Experience

• Managing Partner. Terrano Capital. (Madrid, Spain), 2023 - Present

• Chief Executive Officer. Via Célere. (Madrid, Spain), 2019 - 2023

• Corporate Chief Financial Officer. Via Célere. (Madrid, Spain), 2018 - 2019

• Head of Strategy & Business Development (and previously Corporate CFO). Sener Grupo de Ingeniería (SGI). (Madrid, Spain), 2005 - 2018

• Senior Financial Analyst. BBVA Bolsa (Madrid, Spain), 2000 - 2005

• International Senior Auditor. F. Hoffmann-La Roche, Inc., Nutley, (New Jersey, USA) & Basel (Switzerland). Corporate Audit Department, 1999 - 2000

• Senior Supervisor. PricewaterhouseCoopers. Madrid (Spain), 1995 - 1999

Academic Experience

• Adjunct Professor in Instituto de Empresa Business School. Master in Finance & Master in Advanced Finance, 2009 - Present

• Fundación de Estudios Financieros. Member of the Executive Committee. Subjects: valuation, corporate finance, project finance, portfolio management, recourse & non-recourse financing, 2002 - Present

• Club Español de la Energía. Director of the “Renewable Energy Course” and Associated Profesor in Master of Finance for the Energy Sector, 2006 - Present

• CUNEF. Associated Professor in the Master in Finance, 2009 - Present

Academic Background

• Certificate in Strategy & Scenario Planning. University of Oxford. Said School of Business. A.T. Kearny Oxford Scenarios Programme, 2015

• Ph.D. in Economy. Universidad Complutense de Madrid. Business Administration. Thesis: Renewable Energy (valuation, financing & regulation). Grade: Summa cum laude by unanimous decision, 2011

• Master in Business Administration. (EMBA). IESE Business School. Ranked #1 in Dean List, 2004

• Bachelor of Science in Business Administration. Universidad Autónoma of Madrid (Spain). Grade average A+ with honors. Member of the special project "Cooperación Educativa”, 1997