Jorge Horacio Brito
Jorge Horacio Brito (born July 23, 1952) is a prominent Argentine banker and businessman.
Life and times
Jorge Brito was born in Salta in 1952 and was raised by his mother, who was widowed in 1962. He founded Anglia, a brokerage, in 1976 and, in 1985, purchased a competing brokerage, Financiera Macro. He was named Chairman of the Board of Directors in June 1988 and cultivated close relationships with leading officials in the both the Raúl Alfonsín and Carlos Menem presidencies. During the latter, Brito came under criticism for allegations of favorable treatment for one of Macro's largest borrowers, leather manufacturer Emir Yoma (Menem's brother-in-law), particularly after Macro's 1995 rescue by the Central Bank of Argentina. Under Brito's leadership, Macro Bank grew steadily with the acquisition of numerous provincial banks privatized during the 1990s, including the Bank of Salta (his native province) and of neighboring Tucumán Province.
Heading the nation's largest domestically-owned private bank, Brito became chairman of Argentine Banking Association (ADEBA), in 2003. He also serves as chairman of the board of directors of YPF, long the largest petroleum producer and refiner in Argentina. Brito was among those who expressed interest in the purchase of 20% of the Madrid-based Repsol's ownership of the former state oil concern, when these shares were offered for sale in 2007. Another of Brito's significant business interests is in real estate. His Vizora Developers purchased a prime, 2.5-hectare (6 acre) property in San Isidro (a northern suburb of Buenos Aires) for the construction of a condominium complex and an 11-hectare (28 acre) lot in Buenos Aires' burgeoning Puerto Madero area, where the group is currently involved in a US$160 million project. Brito has continued in his pragmatic approach to Argentina's fast-changing political panorama, and has been a vocal supporter of Kirchnerism since it advent in 2003, endorsing President Cristina Kirchner's candidacy in 2007.