Sunday, August 7, 2016 Brito becomes billionaire after stock rallyBanco Macro head reaches US$1.2 billion net worth thanks to Macri’s business-friendly policiesMany experts agree that banker Jorge Horacio Brito, the head of the Buenos Aires-based Banco Macro, just became a billionaire and he has President Mauricio Macri to thank for it. The banking association under Brito financed the road program me of Kirchner’s presidency after he was elected in 2003. Bright presentMacro’s 21 percent rally in US dollar terms this year is the largest among Argentina’s four biggest publicly traded banks. Throughout his long career as a banker and businessman, Brito showed his skills for getting always close to politicians and positioning himself in any political environment. The duo bought Macro in 1985 and began snapping up lenders in a consolidation that culminated in a 2006 listing on the New York Stock Exchange.

Source: Bueno Aires Herald August 07, 2016 02:26 UTC