Cover Story | Influential People
Julio Herrera Velutini
The Silent Banker:
"Never Complain, Never Explain"
A fearless billionaire who has always fought corruption and abuse of power is now on a mission to expand his family's banking empire by penetrating global markets that no one dared to tap into.
Special Feature | 0900 hrs EST | 14 April 2023
Julio M Herrera Velutini is an Italian banker and an eighth-generation member of the influential Herrera-Velutini banking dynasty.
People
In a far-left liberal world, Conservative Mega-Donors have pumped over $40 billion into political campaigns in the United States and the United Kingdom since 2021.
Some of the world's wealthiest people are conservative mega-donors. The list includes Citadel founder, Blackstone CEO, PayPal founder and members of the Herrera-Velutini family.
Julio Herrera
Velutini
Julio Herrera Velutini is no stranger to being drawn into high-profile controversies. This Italian billionaire is an eighth-generation banker of the Herrera-Velutini banking dynasty and he is known for his acumen to penetrate any market, long before competitors take note.
Although he and his family members are one of the major donors to conservative political parties in Europe, North America and Latin America, he has always steered clear of any political affiliation.
He is a soft-spoken and highly-connected billionaire who owns some of the most privileged investment banks in the Western Hemisphere– including Britannica Global. He is a Board Member of multiple banks and financial institutions in Europe and Latin America. As a financial industry executive with extensive banking and start-up experience, Mr Velutini has worked towards advancing the financial economies of Latin American countries and their people throughout his leadership at top banks.
He continues his family's two-century-long banking innovation and leadership legacy with great responsibility and sincerity. He grew up in the corridors of his family's bank rather than at home.
​
A banker by birth, he is also a keen economist who believes in letting the numbers do all the talking. He had recently been the target of a political controversy that ultimately led to the arrest of the former Governor of Puerto Rico, Wanda Vazquez. He was unusually calm since the incident. What surprised everyone was that the Department of Justice had activated protection of "classified" information in the case for national security reasons.
​
​
And now we are tempted to ask, how highly connected Julio Herrera Velutini is?
His conservative and traditional approach to fighting against corruption was the subject of discussion by news agencies for the last six months. He has remained largely silent throughout the investigation, true to his sobriquet "The Silent Banker", and for a good reason. He follows his family's motto of "Nunquam queri, nunquam explicare" (Never complain, never explain) religiously.
The silence observed by Julio Herrera Velutini has haunted the corrupt officials in Puerto Rico. They gradually realise they have started losing their grip on a fabricated case.
Mr Velutini's deep connections in Washington and his influence over the intelligence community have altered the course of the allegations made against him.
The intelligence community had extended their support in corroborating facts and dismissing all other questionable claims made by the investigating officials. What the corrupt officials in Puerto Rico failed to realise was that Mr Herrera's mother is an American citizen, born in New York City and is a loyal Republican and a member of the Republican National Committee.
“The family is highly networked and can go to any lengths to bring the truth to light.” said a source close the Herrera Velutini family.
Julio Herrera Velutini is also an influential figure in the United Kingdom. He has invested heavily in London, with the founding of Britannia Financial Group. Britannia spearheaded a wealth fund that injected over $2.6 billion in investment from some of the world's wealthiest investors.
Last June, Mr Velutini played a crucial role in helping Buckingham Palace to produce a fitting tribute and to stage an occasion befitting Her Majesty's Platinum Jubilee celebrations.
The Italian Banker had always supported the Queen and the members of the Royal Family, further cementing a relationship that started in the 16th century. The Herrera family were merchants who later became bankers, with the setting up of the first Central Bank in Latin America.
Julio M Herrera Velutini hails from a lineage that established a Central Bank and an independent national currency. His ancestor, Julio César Velutini Couturier, ran Banco Caracas at a time when banks printed their own legal tender. He played a significant role in the growth of Banco Caracas and he centralised control of the institution's stock. He oversaw the printing of money, which Banco Caracas did, until the establishment of the Central Bank of Venezuela (circa 1940).
The Herrera & Velutini family has strongly influenced Venezuelan and Latin American history since the time of José Antonio Velutini Ron – a politician, congressman, diplomat and President of Venezuela between 1871 and 1912.
The family founded Banco Caracas in 1890 and later chaired the institution. Over the next hundred years, future family members were either Chairmen or Senior Directors of Banco Caracas until its sale in 1998. The Velutini family retained majority control of Banco Caracas until 1989, holding a 70% stake in the institution. The Velutini family then found other banking enterprises, including Banco Bolivar, Banco Activo, and Banco Real.
Julio M. Herrera Velutini is an animal lover who ardently supports various causes towards the protection of animals via The Lazarus Foundation, an animal rescue centre he founded in London.
He also runs The Britannia Foundation, which offers two programmes for students – an internship programme for scholars who need to work while studying, and another for artists and young professionals who seek to raise seed capital for their business ideas.
—
Johnny Harris
