Dolphin Jorge Ezequiel Carballo He has just announced his resignation from the presidency of Macro desk, one of Argentina’s leading private banks. Even if now the decision of the shareholders’ meeting remains, it is obvious that the executive presidency of Macro will pass into the hands of Jorge Brito Jr.vice president of the institution and, also, head of the River Plate Club. The vice presidency will remain for Carlo Giovanellianother experienced banker.
carballo, main shareholder of the entity together with the Brito family, assumed the presidency of Macro a few days after his lifelong partner, Jorge Brito, died in a plane crash, which occurred in the province of Salta on November 20, 2020.
It is estimated that between the Carballos and the Britos hold 44% of Macro’s share capital. Carballo leaves the team but will keep the shares that are in his possession today. They assured Macro that Carballo is stepping aside on excellent terms, given that he leaves written in his letter of resignation.
Among the reasons for his resignation, set out in a letter addressed to the Macro board of directors, Carballo expresses “The first reason is that I quit because I can. This is because the bank is in an exceptionally good situation, as evidenced by its solvency, liquidity and other indicators usually used by analysts and investors to determine the viability of a financial institution”.
Carballo is recognized by his financial market peers as a true strategist and for many today he is a “first among equals” of the local financial system.
A lawyer by profession and a keen student of the rules and strategy of his competitors in the financial system, Carballo was recognized as extremely nimble at the gaming tables. In an article published by clarion On November 22, 2020 it was said like this: “With Jorge Brito father they formed the ideal duo. One, Brito, was the bold one, the one who took risks and played hard. Ezequiel, the one who was dedicated to investigating market trends, looking for the cracks in the regulations to make money,” said another banker.
And this too: “The division of labor was decisive for the growth of the bank. Brito has close ties with politics at the highest level, especially with governors, and this has been fundamental. From the process of concentration of the financial sector and the privatization of provincial banks, the Macro was able to advance on the public banks of Misiones, Salta, Jujuy and Tucumán. Another master move was the purchase of the bansud, signed almost at the same time that the social outburst produced the resignation of former president Fernando De la Rúa. The Bansud had been bought by Citibank when the US bank was still betting on retail banking in Argentina. But in late 2001 he made the decision to separate from the entity. He did it in a very special way. Citi handed over the bank and added a $200 million capitalization to it. “It was like they got a winning lottery ticket,” said an old trader.
The complete letter of Carballo’s resignation.
“Affectionately dolphin Jorge Ezequiel Carballo”
Source: Clarin
