Julio Herrera Velutini
Julio Martín Herrera Velutini | |
|---|---|
| Born | December 15, 1971 |
| Occupation(s) | Entrepreneur, banker |
| Known for | Founder of Britannia Financial Group |
Julio Martín Herrera Velutini (born 15 December 1971) is a billionaire entrepreneur of Italian-Venezuelan descent and the founder of Britannia Financial Group.
Early life and family
Velutini received his education at The American School in England (UK) and La Scuola Americana in Svizzera (Switzerland), before earning his degree from the Central University of Venezuela in 1990. Boasting more than three decades of expertise in banking and finance, he is part of the seventh generation of bankers within his family lineage.
The Herrera Velutini family ranks among Venezuela’s most prominent landowners. Their heritage dates back to 14th century Spain, originating with Pedro de Herrera y Rojas, Lord of Ampudia and head of the House of Herrera, who established a legacy as influential landowners, merchants, and bankers across Spain, the Canary Islands, Latin America, Germany, and England. Over time, the family has also left its mark on the trade and fashion industries spanning Spain, North America, Latin America, and more recently, the United Kingdom. The majority of their wealth stems from enduring ventures in finance, banking, and real estate that have persisted since the 14th century.
Career
During the early 1990s, Velutini was involved with Multinvest Casa de Bolsa at the Caracas Stock Exchange, where he served on the board until 1998. That same year, he assumed the role of CEO and became a major shareholder of Transban Investments Corp. His leadership extended to senior positions within companies such as Kia Motors of Venezuela, BMW de Venezuela, BBO Financial Services, Transporte de Valores Bancarios de Venezuela, and Bolivar Banco Universal, where he was appointed Chairman of the Board at just 29 years old.
In the early 2000s, he expanded his portfolio by acquiring Caja Caracas Casa de Bolsa and IBG Trading (USA). In 2006, together with Transbanca executives and partners, he took control over Banco Real and Banreal International Bank. He chaired both Banco Real and Banreal Holding (Spain) until 2009 but divested due to economic and political challenges in Latin America. Additionally, he held executive roles at Banco Activo Banco Comercial.
In 2008, Velutini launched Bancredito International Bank & Trust Corporation with an initial capital injection of $5 million. Under his leadership, its capital grew to exceed $60 million while assets under management approached $600 million. He also founded the Bancredito Foundation alongside Bancredito Financial Services. The Bancrédito Group further expanded in 2016 by acquiring Consultiva Wealth Management, an SEC-registered investment advisory firm operating in Puerto Rico and New York.
In 2012, he established Britannia Wealth Management in Geneva, Switzerland—an asset management company affiliated with the Association Suisse des Gérants de Fortune (ASG). Four years later, in 2016, he founded Britannia Financial Group (BFG), broadening activities into banking, securities brokerage, consulting services, and investment management. BFG maintains equity stakes in several financial institutions worldwide.
Velutini is also proprietor of Intermedia Limited, which controls Miami-based Diario Las Américas, and holds board memberships at various international corporate and financial service banks.
In August 2022, allegations emerged accusing Herrera Velutini of unlawfully financing the electoral campaign of former Puerto Rican governor Wanda Vázquez Garced. These claims were based on a 2020 survey conducted by City Group London assessing Puerto Rico's pre-election environment. Vázquez Garced’s attorney clarified that the survey was not commissioned for her benefit. Herrera Velutini voluntarily presented himself to authorities and entered a plea of not guilty.