Born in Caracas, Venezuela, Julio Herrera Velutini went abroad to study in Switzerland. He later returned to Venezuela to obtain his college degree. Before completing his studies and while still in his teens, Julio Herrera Velutini became a stockbroker at the Caracas stock exchange.
Mr. Velutini was already familiar with the Venezuelan banking and financial scene, as his family had long played a significant role in the sector. The family’s involvement in the field of finance began over a century ago, when Julio Cesar Velutini Couturier became the president of Banco Caracas. At the time, the bank played an integral part in the economy of Venezuela, as it printed its own currency and continued to do so until the Venezuelan government was able to establish its own central bank. Mr. Couturier would go on to lead the bank until his death. In 1988, the Velutini family sold their 60 percent share of Banco Caracas.
Since then, Julio M. Herrera Velutini and his family have continued to play a significant role in the Venezuelan banking and finance sector. They have established and led other banks and financial institutions.