Francisco De Armas-Cubas, CPA: Puerto Rico Leadership

Camara de Comercio

For over 25 years, the career of Francisco J. De Armas-Cubas has been one of integrity, accountability, and expertise. Mr. De Armas is a financial services professional and attorney with a broad range of skills and abilities. He is the Managing member and co-founder of Caribbean Investment & Acquisitions Corporation and CIAC, LLC, an asset management and loan servicing firm with over $5 billion in managed assets

Education and Background in Law

Francisco De Armas-Cubas is a native of Puerto Rico. After he graduated from Colegio Maristas, he was accepted to Bentley University, in Waltham, Massachusetts and graduated in 1991 with a Bachelor of Science degree in Accounting.

In 1992, when he was accepted to the Tulane University School of Law in New Orleans, Louisiana.. He earned his Juris Doctor in 1995 and also became a registered Certified Public Accountant (CPA) the same year ande passed the bar and was licensed to practice law in Puerto Rico. 

Francisco joined the Puerto Rican law firm Fiddler, Gonzalez, and Rodriguez, PSC as an associate in the firm’s labor division in 1996. Based in San Juan, the law firm is one of the oldest and most accomplished of its type in Puerto Rico. 

Business and Entrepreneurial Leadership

Francisco De Armas practiced law in the San Juan, Puerto Rico area for several years until he got the opportunity to work with a family-owned business enterprise. As the senior vice president of the company, his leadership abilities guided the company through substantial growth and profitability. Eventually, he was appointed as President of the company. Along the way, Francisco was able to develop his skills in managing the diverse needs of business operations, giving him the drive to create his own entrepreneurial initiative.

2010 saw the creation of CIAC, which Mr. De Armas co-founded. CIAC has become one of the leading asset management firms in Puerto Rico with over $5 billion in managed assets including $400 million in real estate properties and sub-performing commercial loans. As the Principal and Managing member of CIAC, Mr. De Armas I specialize in the complex field of distressed debt and debt restructuring. , Mr. De Armas leverages his understanding of deal sourcing, underwriting, and resolution of assets under management at CIAC. 

In addition to his work with CIAC, Mr. De Armas also co-founded a private equity fund , CIAC Consortium II, LLC, which co-invests in the acquisition of sub-performing loan portfolios and real estate properties in Puerto Rico..

The Fund has experienced internal rates of return in excess of 15%. Mr. De Armas continues to share his expertise as an attorney and financial professional, and he has gained the respect of his peers through hard work and his social influence. He lives in Puerto Rico with his beautiful wife Lilibeth Costas Santiago and his son Francisco De Armas Costas

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