A respected Venezuelan financial executive, Julio M. Herrera Velutini guides an investment bank based in Puerto Rico with a US presence. Deeply rooted in his native country, Julio M. Herrera Velutini is a descendant of Jose Antonio Velutini, a political and business leader who had a prominent role in the early years of Venezuelan history. One of his major accomplishments involved helping to set in place a unique Venezuelan paper currency as the director of Banco Caracas. Venezuela produced its initial run of silver coins in 1879 in various denominations, up to 5 bolivares. Subsequently, gold coins were produced with significantly higher values, and this early hard currency played an important role in boosting the country's economic growth. This early system evolved to keep pace with changing economic necessities. High-value gold coin production ceased in 1912, while only the 5 bolivares gold coin remaining in production until 1936. By the mid-1960s, silver coinage was phased out as well and replaced with nickel. By the late 1990s, high inflation resulted in a completely new set of coins being created, valued at between 10 and 500 bolivares
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Following the path of his father and grandfather, Julio M. Herrera Velutini ventured into the world of banking and finance after completing his college education. The chairman of an international bank based in Puerto Rico, Julio Herrera Velutini has acquired stakes in several financial firms and made them part of the family holdings. Acquisitions occur often in the business world. Strategic acquisitions are performed to either improve synergy, grow market share, or increase operational efficiency. Synergy is created when two companies with similar products and services come together. One company can acquire another with similar product or service offerings and combine both companies’ resources to reduce operational costs and increase branch locations. Acquisitions lead to increased market share. When a company acquires another operating in a similar industry, essentially a competitor company, the buyer also acquires its existing business. That way, the acquiring company gains market share without doing the hard work involved in earning new business and at the same time eliminates competition. The final reason for strategic acquisitions is to improve operational efficiency in the overall business or in a specific segment such as supplies or marketing. For example, one company can acquire its supplier and with that, reduce its costs by the margin the supplier made, boosting supply chain efficiency. |
AuthorMr. Velutini has experience with both established banks and young banks. S Archives
December 2017
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