Luis Caputo officially became Argentina’s Minister of Finance today, after sworn in by President Mauricio Macri at the Casa Rosada. The new Ministry of Finance was created on June 2. Caputo was Secretary of Finance of the Ministry of Treasury and Public Finances until December 31, 2016.
The new challenges will be to strengthen Argentina’s relation with the international market, to continue with the reform of the capital market to improve the access to credit of SMEs, and to attract productive investments for the country that comply with the strategic objectives of the Government: to grow and create jobs.
The team led by Caputo made possible – while the former Minister of Treasury and Public Finances, Alfonso Prat-Gay, was in office – the resolution of the holdouts dispute, the lifting of injunctions against Argentina, and the return of the country to international markets with the successful bond issue of 16.5 billion dollars. As a result of this process, credit agencies improved Argentina’s qualification, reducing the financing cost.
Before being sworn in as public official, Caputo already had a wide 25-year experience at the private financial sector. He had worked in New York and London for Deutsche Bank and J.P. Morgan as Emerging Markets Chief and, later, he worked as President of the Deutsche Bank in Argentina. He has obtained a Bachelor’s Degree in Economics at the University of Buenos Aires and he gave Finance classes at the Universidad Católica Argentina until 2015.
Santiago Bausili will be the new Secretary of Finance, Caputo’s previous position, and he will be in charge of implementing the policies designed by the new Minister. Bausili has been the Undersecretary of Financing of the Ministry of Treasury and Public Finances. He has 20 years of experience in the financial sector. He has been Director of the Deutsche Bank and Vice-President of J.P. Morgan in Buenos Aires and New York, assisting governments and companies from Latin America (Argentina, Brazil, Chile, Colombia, Peru, and Uruguay) in their issues of international debt. He has obtained a Bachelor’s Degree in Economics at San Andrés Univerity.
Pablo Quirno will be the new Chief of Cabinet of the Ministry of Finance. Quirno has been the Chief of Cabinet of the Secretariat of Finances of the Ministry of Treasury and Public Finances of the Argentine Republic. With more than 25-year experience in the international financial sector, he has worked in the private sector as financial advisor and he has been the co-responsible as Managing Director of the M&A team for Latin America of JPMorgan in New York where he has also been a member of the Regional Management Committee of JPMorgan. Quirno has also assisted governments and companies in the United States, Latin America, Europe, and Asia in mergers and acquisitions, corporate restructures, privatizations, and private equity. He has obtained a Bachelor´s Degree in Economics at the Wharton School of the University of Pennsylvania.