Jorge Horacio Brito
Jorge Horacio Brito | |
|---|---|
| Born | 23 July 1952 Buenos Aires, Argentina |
| Died | 20 November 2020 (aged 68) Near Cabra Corral, Salta, Argentina |
| Occupation(s) | Entrepreneur, banker |
| Known for | CEO of Banco Macro; president of Argentine Banking Association (ADEBA) |
Jorge Horacio Brito (23 July 1952 – 20 November 2020) was a prominent Argentine entrepreneur and banker who held the position of CEO at Banco Macro, the largest banking institution in Argentina. Additionally, he led the Argentine Banking Association (ADEBA) as its president from 2003 through 2016.
His portfolio of investments was diverse, encompassing real estate through Vizora, agricultural and livestock enterprises such as Inversora Juramento, Frigoríficos Bermejo, and Cabañas Juramento, along with renewable energy ventures via Genneia Inc.
In 2018, Forbes valued his fortune at approximately $1.3 billion, placing him seventh among Argentina’s wealthiest individuals.
Early life
Jorge Brito was born in 1952 into a well-established family in Buenos Aires. Following the death of his father in 1962, he was raised by his mother. His family connections included Pedro Brito, a municipal official in Buenos Aires, whose siblings were lawyers actively participating in political campaigns during the 1930s.
Banking and finance
Brito initiated his career by founding the brokerage firm Anglia in 1976. Later, in 1985, he acquired Financiera Macro, a rival company, which led to the creation of Macro Bank (Banco Macro). His initial expansion benefited from strong relationships with political figures in northern Argentina, for whom he managed treasury funds. After being appointed chairman in June 1988, Macro Bank grew steadily by acquiring provincial banks that had been privatized during the 1990s, including institutions in Salta and Tucumán provinces.
Under his leadership, Macro Bank evolved into one of Argentina’s leading private banks with an extensive branch network nationwide. Brito held multiple roles including chairman, CEO, and member of both executive and senior credit committees.
From April 2003 until 2016, he presided over ADEBA before Daniel Llambías from Grupo Financiero Galicia succeeded him. In 2017, his son Jorge Pablo Brito assumed the presidency of ADEBA while also serving on Banco Macro’s board. Established in 1972, ADEBA is part of the influential G-6 Group—a coalition of major Argentine business organizations that engage in discussions on economic policies and development strategies.
Brito also chaired several boards such as Banco del Tucuman S.A., Inversora Juramento S.A., and Banco Privado de Inversiones S.A. As founder and CEO of Banco Macro, he directed investments spanning real estate through Vizora; agriculture and livestock via Inversora Juramento Inc.; cold storage operations with Frigoríficos Bermejo Inc.; butcheries under Cabañas Juramento Inc.; and energy interests through shares in Genneia Inc. Moreover, he served as chairman of YPF, Argentina’s foremost oil producer and refiner, expressing intentions to acquire a portion of Repsol’s shares when they became available for sale in 2007.
Between 2012 and 2014, Brito led the Latin America Banking Federation (FELABAN), fostering collaboration among financial institutions across Latin America.
Real estate
Through Vizora Developers, Brito invested heavily in real estate, particularly focusing on development and marketing projects within Puerto Madero, Buenos Aires. Notable developments included Remeros Beach, Link Towers, Madero Walk along with Madero Walk Eventos, and Zen City. His real estate interests extended to luxury hotels, country clubs, and high-end residential properties such as Central Tucumano located in San Miguel de Tucumán, Arboris situated in Las Lomas and La Horqueta neighborhoods of San Isidro, Buenos Aires, as well as the environmentally conscious Macro Bank headquarters at Catalinas Norte, Buenos Aires City.
Banco Macro also played a key role in constructing Madero Center, a prestigious mixed-use luxury complex within Puerto Madero.
Agriculture and livestock
Brito's agricultural interests encompassed cattle ranching, meat processing, and crop production, with a primary focus on soybeans. Inversora Juramento Inc., established in 1990, manages cattle operations across 67,000 hectares in Joaquín V. González, Salta, maintaining a herd of 54,000 head. The enterprise specializes in beef production and annually cultivates around 12,600 hectares, including 8,000 hectares dedicated to soy cultivation, alongside sorghum, alfalfa, and corn used as feed for livestock.
Frigoríficos Bermejo Inc., located in Pichanal, Salta, runs a state-of-the-art slaughterhouse and meat processing facility capable of handling 10,000 cattle per month. It serves both wholesale and retail sectors throughout Salta and Jujuy via its network of butcher shops and sales representatives, while also exporting products to Chile and the European Union.
In recognition of his significant contributions to Argentina’s business sector, Brito was honored with the Fortuna Lifetime Achievement Award in 2016.
Personal life
Brito was married to Marcela Carballo and fathered six children. He tragically passed away at age 68 in a helicopter crash near Cabra Corral, Salta, on November 20, 2020, along with his pilot.