Julio Herrera Velutini is a longtime financial executive who holds responsibilities as chairman of a successful San Juan, Puerto Rico-based international bank. He combines a technology and mobility-focused business model with a deep respect for family traditions. Julio Herrera Velutini takes particular pride in the longevity of his family’s involvement in the banking industry.
Studies show that the majority of business owners are not able to pass their enterprise on to a second generation and that only 10 percent of family businesses are passed on to a third generation. For this reason, it is common perception that the hard work of the founders dissipates over time as sibling rivalries and loss of competitiveness take root. Mr. Herrera Velutini is one of the few examples of a banking executive who was able to take over and successfully guide a firm entrusted to him by a previous generation. His family roots in the business extend to the late 19th and early 20th centuries, when his ancestor José Antonio Velutini played a vital role in establishing one of Venezuela’s first banks and an early currency.