Role Reversal
By Paula M. Bodah
April 2023
During a 30-year career at Citibank, where he was LatAm Head of Markets and Securities Services, Jaime Roblesgil kept thinking there should be a seamless, comprehensive way for migrants to the U.S. to manage financial matters with their families back home. “I had seen this problem with cross-border financing and was never able to solve it,” he says.
Then Jaime, who was also an early limited partner in Endurance28, met Silvia Schwartz and Deirdre Bobadilla, Co-Founders of Fiado, a company in Endurance28’s portfolio. At Fiado, Silvia and Deirdre were developing exactly what Jaime thought was needed — all of it done on a smartphone on a single app, providing essential financial services to migrants and their families in Latin America.
“You have your high school band and Michael Jackson is in the crowd and wants to sing with you — you’re going to give him the mic!”
The three came together at Endurance28’s 2022 Summit, where Silvia and Deirdre were presenting. “Jaime was definitely someone we were trying to impress,” says Deirdre. “He came up to us afterward and said, ‘I loved your presentation.’ He said he’d like to be a part of our board, and we thought, ‘Wow, what an honor!’”
Unfortunately, Citibank felt that it could be a conflict of interest for Jaime to serve on Fiado’s board. “I thought he’d say sorry, he couldn’t do it,” Deirdre recalls. But Jaime decided to quit his job at Citibank and join Fiado, instead.
Jaime’s exceptional knowledge and expertise in the banking system — particularly in treasury and securities — combined with Deirdre and Silvia’s skills, created an unbeatable team. Describing their decision to bring Jaime on as a co-founder, Deirdre says, “You have your high school band and Michael Jackson is in the crowd and wants to sing with you — you’re going to give him the mic!”
To call Jaime’s move unusual is an understatement. “I thought I misunderstood him,” says Consuelo Valverde.
Consuelo Valverde, founder and managing partner of Endurance28, says that to call Jaime’s move unusual is an understatement. “I thought I misunderstood him,” she confesses. “I said, ‘Do you know what you’re doing? To join a startup pre-launch is as risky as it gets.’”
Jaime knew exactly what he was doing, and he hasn’t looked back since he joined Fiado in 2022. “I was never nervous,” he says. “I was eager. It’s a very solid idea.”
With each of the three making their own unique contribution, Fiado is stronger than ever and poised to make a big impact. “When we succeed,” Jaime says, “we’re going to be able to turn the whole industry on its head.”