David Martínez (businessman)
David Martínez Guzmán (born in Monterrey, NL, Mexico 1957) is managing partner of Fintech Advisory, a firm that specializes in corporate and sovereign debt. Fintech has offices in London and New York. David Martinez studied and earned an electrical engineer title at the Tecnologico de Monterrey (ITESM) in Monterrey, Mexico, and received an MBA from Harvard Business School. In the late 80s and early 90s, he worked for Citibank.
David Martínez was born to Manuel Martínez and Julia Guzmán in Monterrey, Mexico. His family lived an average life until his father received a small fortune from an inheritance. Later, Martínez moved to Rome and enrolled in Legion of Christ Seminary to become a priest. After just six months he decided he was not suited for that vocation.
Back in Monterrey, Mexico, he enrolled at the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM or Tec de Monterrey) to study electrical engineering. After earning his diploma, he asked a friend's father for a loan to obtain an MBA at Harvard Business School, where he excelled as a student and made acquaintances that were helpful later on. After graduating, he asked his grandmother for a US$300,000 loan to start Fintech in New York. After a year he was able to pay the loan plus interest.
When David Martinez turned 30 in 1987, he decided to create Fintech. He has been a successful financier. One of his most remarkable and polemic negotiations was with debt restructuring of the Mexican chemicals and textile conglomerate CYDSA, one of the companies that rejected him when he was younger. CYDSA agreed to an exchange of debt for equity that would hand control of the company to creditors. Fintech bought US$400 million of CYDSA debt for US$40 million and obtained the 60% of the shares to take control of the company from the founders, the Gonzalez Sada family.
In 2004 Martinez set a record for the highest price paid for a residential property in Manhattan with his US$54.7 million purchase of a penthouse apartment. In 2006 he reportedly set another record for the highest price paid for a piece of art with the purchase of a Jackson Pollock painting from David Geffen. Pollock's painting "No. 5, 1948" sold for US$140 million (£73m), on 1 November 2006. However, the auction expert Josh Baer indicated that Martinez was not the buyer of the painting. In addition, Shearman & Sterling issued a press release on behalf of its client, David Martinez, to announce that contrary to articles in the press, Martinez does not own the painting or any rights to acquire it.
According to the newspaper El Universal from Mexico City, Martínez is from Northern Mexico. Newspaper sources mention that every year he goes to Monterrey to have dinner with his family and that he supports them by sending an allowance every month (to his mother and two sisters).
He currently resides in London.