Over the course of his career, Julio M. Herrera Velutini has held executive leadership positions at numerous financial firms in Venezuela. Julio Herrera Velutini draws on this experience, in addition to knowledge gained as a broker in the Caracas stock market, to serve as chairman of a Puerto Rican bank. In doing so, he carries on his family’s century-long history of success in the banking sector.
Although 9 out of 10 formally established businesses in Venezuela are family owned and operated, maintaining a family business is not an easy task. Even in stable economic climates, 70 percent of family businesses are not succeeded by the second generation. Only 10 percent of family businesses remain successful long enough to see the third. The difficulty of passing a company on to heirs may be attributed to several factors. Rivalries and feuds among family members, even when unrelated to business, can negatively affect company operations. Family members may also disagree as to how the business should be run, which can lead to power struggles. Establishing solid guidelines for the succession and administration of a family business can help to anticipate such issues and solve them when they arise.
0 Comments
Julio M. Herrera Velutini currently serves as chairman of an international bank and has previously led several financial institutions in Venezuela. With more than a decade of experience in international banking, Julio Herrera Velutini continues his family’s contributions over the course of a century to Venezuela and the development of the country’s banking industry.
The Velutini family’s influence on Venezuelan history began in the late 19th century with the accomplishments of Jose Antonio Velutini. A prominent public figure, he served as a military officer before holding several government positions, including cabinet member and state governor. An experienced diplomat, he also served a term as vice president and later led the country as acting president. The family’s success in the banking sector began in the following generation. A lawyer and scholar of political science, Julio Cesar Velutini Couturier launched his career in Venezuelan banking in the early 20th century. Becoming the president of Banco Caracas at the age of 30, he consolidated the bank’s stock and managed the printing of legal tender until the Central Bank of Venezuela assumed currency responsibilities in 1934. The Velutini family maintained control of Banco Caracas for more than four decades until its acquisition by Banco Provinicial. |
AuthorMr. Velutini has experience with both established banks and young banks. S Archives
December 2017
Categories
All
|