Our Executives


fernando alvarez - chief executive officer


email  falvarez@siglasul.com.br

curriculo  Mini-curriculum


Fernando Alvarez - chief executive officer

With a degree in engineering from the National University of Buenos Aires, with master’s degrees in energy economics and administration, Fernando Alvarez is an expert on economic regulation and planning in the electricity and sanitation markets.

Between 1994 and 2002 his professional activities were focused on Argentina and other countries of Latin America where he developed and guided important regulatory assistance projects and business evaluations for major economic groups in the region. Since 2002, as a founding partner and CEO of Siglasul, his professional performance focused on Brazil developing regulatory and institutional studies, and business evaluations for the electricity and sanitation sectors.




leonardo campos - project director


email  lcampos@siglasul.com.br

curriculo  Mini-curriculum


Leonardo Campos - project director

Leonardo is an economist graduated (BSc) from the Federal University of Rio de Janeiro. He holds a MSc (1992) and a PhD (1998) in economics from the London School of Economics. Leonardo is an specialist in economic regulation for network utilities.

His professional career started in academia, where he undertook research and teaching activities related to regulation of energy markets. He worked for the ANP (national oil and gas regulator) (1998-2000) and was a Competitive Intelligence Manager in Embratel (a large telecom utility). Between 2002 and 2007, he worked as Associate Consultant in a Rio based energy consulting business (CBIE) where Leonardo was responsible for managing and developing consulting projects related to oil, gas and electricity markets.

Since 2007, he has been working as Manager in Siglasul undertaking projects and developing businesses associated to gas, electricity and water sectors in Brazil. In 2010, Leonardo was appointed Project Director.




sebastián butto - project director


email  sebabutto@siglasul.com.br

curriculo  Mini-curriculum


Sebastián Butto - project director

Sebastian graduated as an Economist from the National University of Cordoba, UNC (1997), with a Magister in Finance from the CEMA University (1999). He is a specialist in economic regulation of public services.

He has 12 years of experience advising regulatory agencies, industry associations and large electricity and water utilities (EDF, AES, EDP, SABESP) on issues related to economic regulation, defining business strategies, evaluation of investment projects, benchmarking studies, analysis of EVA, Research & Development (R&D) projects, and written experts reports on technical, tariff and regulatory matters. He has participated in more than 20 tariff review processes in Latin America countries (Brazil, Argentina, Panama, Guatemala, Bolivia and Peru). Previously, he was a trainee in the Regional Energy Integration Commission, CIER (1999) and worked as a researcher in the Roela Bank (1996-1998). On the academic side, Sebastian was professor of Monetary Economics and Microeconomics at the UNC.

Within SIGLA, Sebastian has held several positions, from head of the Economics Area (Sigla 2000-2002), Project Manager (Siglasul 2002-2006) to project Director in 2006 (Siglasul).



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