Veteran diamantaire Edi Faltz has been recently elected  as the new President of the World Jewelry & Diamond Hub, Panama, Latin America's first and only diamond exchange. He takes over from Mahesh Khemlani, who served in the position since September 2015. The vote, which took place on January 10, was conducted by a special Election Committee set up by the exchange’s management for the purpose.

Faltz, the owner and CEO of Ten Global SA, a diamond and jewellery company headquartered in Panama City, served as Executive Vice President of the bourse since September 2016, and headed its membership and banking committees. A veteran diamantaire, he is also owner and CEO of both DBO (Diamond Buying Office) and the Faltz Diamond & Jewelry Group in Ramat Gan, Israel, and has worked as an external advisor to two leading Swiss banks. He is additionally a Past Master of the Freemasons.

Outgoing president Khemlani said, "It has been a privilege to serve during a challenging period, and I am delighted to be handing over the reins of the presidency to Edi, who has been committed to the establishment of a diamond, gemstone and jewellery hub in Panama practically from its very beginning, and has invested so much personally in the future of the business in this nation and in several countries of Latin America. He brings new energy and an exciting vision. I wish him and all of the membership the very best of luck and good fortune moving forward."

Emphasising that he was "both honoured and appreciative to have been awarded this opportunity", Faltz said, "The World Jewelry & Diamond Hub, Panama, has faced a series of challenges since its creation, but the promise of a dedicated trading and manufacturing center in Latin America remains strong. After two and a half tough economic years, growth in the area has resumed and is forecast to accelerate in 2018 and 2019, with regional GDP surpassing the record set in 2014. With this in mind, my team and I are putting the final touches to an ambitious development plan for the bourse, and we will release it publicly in the coming few weeks."