Carlos Heller
Encyclopedia
Carlos Heller is an Argentine executive, cooperative banking
leader, and politician.
, Entre Ríos Province
), in 1940, to a Jewish family. The Hellers relocated to Buenos Aires
in 1950, and Carlos completed his secondary schooling in a vocational school. He married Ether Sosa in 1962, and the couple had two children. Losing his post in an auto parts manufacturer due to layoffs, Heller was hired as an administrative assistant in one of Buenos Aires' then-numerous credit union
s, in 1963; in 1974, he was named to the board of directors of the Instituto Movilizador de Fondos Cooperativos (Argentine credit unions' coordinating body).
The military dictatorship
installed in 1976 brought with it an ultra-conservative Economy Minister, José Alfredo Martínez de Hoz
. Following a round of wage freezes (amid 400% inflation), Martínez de Hoz further threatened community banks in February 1977 with his Financial Entities Law. The measure prohibited non-profit banking and raised minimum capital requirements to US$10 million, both of which precluded most smaller credit union
s in the country at the time. This and further measures enacted by the Economy Minister in 1977 encouraged the dramatic growth of investment banking
in Argentina - particularly the financing of speculation
. This adversely affected credit unions further by allowing larger, commercial banks to offer depositors exotic investment vehicles with high yields. As credit unions closed, Heller and other leaders in the sector met in a Villa Ortúzar
co-op in 1978 to discuss the creation of a unified credit union; in November, they petitioned the Central Bank of Argentina to charter Banco Credicoop
. Receiving the Central Bank's charter in February 1979, the new institution named Carlos Heller its first General Manager.
Even as community banks closed, unregulated investment banks proliferated in Argentina during the late 1970s; the practice collapsed between 1980 and 1982, however, and hundreds of these unregulated financial houses, as well as numerous banks, closed.
invited Heller to run with him for the vice-presidency of the Boca Juniors
football team, one of Argentina's (and the world's) most prominent. Elected in 1985, Alegre and Heller inherited a financially insolvent football club and a stadium unable to meet municipal safety requirements. Selling land near Buenos Aires' waterfront for US$21 million, they were able to recover the club's finances and refurbish the iconic Bombonera
stadium. The duo was narrowly defeated for re-election by Mauricio Macri
, in 1995. Heller has been nominated numerous times for the presidency of the Argentine Football Association
(AFA), though his prospective candidacy has been reportedly opposed by the AFA's longtime head, Julio Grondona
.
in 2004, when he joined the Rosario
Group, a left-leaning advocacy group
. Heller formed the Solidary Party ahead of the 2007 elections
, obtaining the support of Congressman Miguel Bonasso and former Buenos Aires Mayor Aníbal Ibarra
, who had been impeached a year earlier over accusations of negligence in a tragic New Year's Eve 2004 nightclub fire. Heller was Daniel Filmus' running mate for the post of Mayor of Buenos Aires. A close ally of President Néstor Kirchner
, Filmus proceeded to a runoff election; but he and Heller were amply defeated by the center-right Republican Proposal
candidate, Mauricio Macri
.
For the Argentine legislative elections of 2009
Heller became a candidate for a seat at the lower chamber
for the City of Buenos Aires. His candidacy was on top of the joint ticket of his own Solidarity Party (PSOL) and the Kirchnerist
Front for Victory
. In one of the most important and competitive electoral districts of Argentina, Heller secured a seat in Congress obtaining 12% of the vote, its ticket placed fourth.
Cooperative banking
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world....
leader, and politician.
The cooperative movement
Carlos Heller was born in rural Villa Dominguez (near VillaguayVillaguay
Villaguay is a city in the province of Entre Ríos in the Argentine Mesopotamia. It has about 48,000 inhabitants as of the , and is the head town of the department of the same name....
, Entre Ríos Province
Entre Ríos Province
Entre Ríos is a northeastern province of Argentina, located in the Mesopotamia region. It borders the provinces of Buenos Aires , Corrientes and Santa Fe , and Uruguay in the east....
), in 1940, to a Jewish family. The Hellers relocated to Buenos Aires
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
in 1950, and Carlos completed his secondary schooling in a vocational school. He married Ether Sosa in 1962, and the couple had two children. Losing his post in an auto parts manufacturer due to layoffs, Heller was hired as an administrative assistant in one of Buenos Aires' then-numerous credit union
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
s, in 1963; in 1974, he was named to the board of directors of the Instituto Movilizador de Fondos Cooperativos (Argentine credit unions' coordinating body).
The military dictatorship
National Reorganization Process
The National Reorganization Process was the name used by its leaders for the military government that ruled Argentina from 1976 to 1983. In Argentina it is often known simply as la última junta militar or la última dictadura , because several of them existed throughout its history.The Argentine...
installed in 1976 brought with it an ultra-conservative Economy Minister, José Alfredo Martínez de Hoz
José Alfredo Martínez de Hoz
José Alfredo Martínez de Hoz was an Argentine executive and policy maker. He served as Minister of the Economy under de facto President Jorge Rafael Videla between 1976 and 1981, and shaped economic policy during the self-styled National Reorganization Process military dictatorship.-Early...
. Following a round of wage freezes (amid 400% inflation), Martínez de Hoz further threatened community banks in February 1977 with his Financial Entities Law. The measure prohibited non-profit banking and raised minimum capital requirements to US$10 million, both of which precluded most smaller credit union
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
s in the country at the time. This and further measures enacted by the Economy Minister in 1977 encouraged the dramatic growth of investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
in Argentina - particularly the financing of speculation
Speculation
In finance, speculation is a financial action that does not promise safety of the initial investment along with the return on the principal sum...
. This adversely affected credit unions further by allowing larger, commercial banks to offer depositors exotic investment vehicles with high yields. As credit unions closed, Heller and other leaders in the sector met in a Villa Ortúzar
Villa Ortúzar
Villa Ortúzar is one of the neighbourhoods of Buenos Aires. Its limits are La Pampa St., Forest Ave., Elcano Ave., Ferrocarril General Urquiza railroads, Del Campo Ave., Combatientes de Malvinas Ave. and Triunvirato Ave....
co-op in 1978 to discuss the creation of a unified credit union; in November, they petitioned the Central Bank of Argentina to charter Banco Credicoop
Credico-op Bank
Banco Credicoop is the largest cooperatively-owned bank in Argentina.-Overview:Banco Credicoop was established in 1979 through the merger of 44 Argentine credit unions. This was motivated largely by the adverse effect Economy Minister José Alfredo Martínez de Hoz's Financial Entities Law of 1977...
. Receiving the Central Bank's charter in February 1979, the new institution named Carlos Heller its first General Manager.
Even as community banks closed, unregulated investment banks proliferated in Argentina during the late 1970s; the practice collapsed between 1980 and 1982, however, and hundreds of these unregulated financial houses, as well as numerous banks, closed.
Tenure at Boca Juniors football club
Antonio AlegreAntonio Alegre
Antonio Alegre was a notable Argentine football official. He was president of Boca Juniors from 1985 to 1995, and was widely credited with the football club's financial turnaround.- Biography :...
invited Heller to run with him for the vice-presidency of the Boca Juniors
Boca Juniors
Club Atlético Boca Juniors is an Argentine sports club based in La Boca neighborhood of Buenos Aires. It is best known for its professional football team, which currently plays in the Primera División....
football team, one of Argentina's (and the world's) most prominent. Elected in 1985, Alegre and Heller inherited a financially insolvent football club and a stadium unable to meet municipal safety requirements. Selling land near Buenos Aires' waterfront for US$21 million, they were able to recover the club's finances and refurbish the iconic Bombonera
Estadio Alberto J. Armando
The Estadio Alberto J. Armando is a stadium located in the La Boca district of Buenos Aires. Widely known as La Bombonera due to its shape, with a "flat" stand on one side of the pitch and three steep stands round the rest of the stadium...
stadium. The duo was narrowly defeated for re-election by Mauricio Macri
Mauricio Macri
Mauricio Macri is an Argentine businessman turned politician, and Head of Government of the Autonomous City of Buenos Aires. Son of Francisco Macri, a businessman of Italian origin prominent in the industrial and construction sectors, he represented the City of Buenos Aires in the Lower House of...
, in 1995. Heller has been nominated numerous times for the presidency of the Argentine Football Association
Argentine Football Association
The Argentine Football Association is the governing body of football in Argentina. It organises the Argentine football league and the Argentina national football team. It is based in Buenos Aires...
(AFA), though his prospective candidacy has been reportedly opposed by the AFA's longtime head, Julio Grondona
Julio Grondona
Julio Humberto Grondona is an Argentine football executive. He has served as president of the Argentine Football Association since 1979...
.
Politics
Long a socialist, Heller publicly entered the fractious realm of Argentine politicsPolitics of Argentina
The politics of Argentina take place in the framework of what the Constitution defines as a federal presidential representative democratic Republic, where the President of Argentina is both Head of State and Head of Government. Legislative power is vested in both the President and the two chambers...
in 2004, when he joined the Rosario
Rosario
Rosario is the largest city in the province of Santa Fe, Argentina. It is located northwest of Buenos Aires, on the western shore of the Paraná River and has 1,159,004 residents as of the ....
Group, a left-leaning advocacy group
Advocacy group
Advocacy groups use various forms of advocacy to influence public opinion and/or policy; they have played and continue to play an important part in the development of political and social systems...
. Heller formed the Solidary Party ahead of the 2007 elections
Argentine general election, 2007
Argentina held national presidential and legislative elections on October 28, 2007, and elections for provincial governors took place on staggered dates throughout the year. For the national elections, each of the 23 provinces and the Autonomous City of Buenos Aires are considered electoral districts...
, obtaining the support of Congressman Miguel Bonasso and former Buenos Aires Mayor Aníbal Ibarra
Aníbal Ibarra
Aníbal Ibarra is an Argentine lawyer and politician who served as mayor of Buenos Aires from 2000 to 2006.-Biography:Ibarra was born in Lomas de Zamora, a district located in the southern region of Greater Buenos Aires. His father was a Paraguayan member of the PLRA who left his country during the...
, who had been impeached a year earlier over accusations of negligence in a tragic New Year's Eve 2004 nightclub fire. Heller was Daniel Filmus' running mate for the post of Mayor of Buenos Aires. A close ally of President Néstor Kirchner
Néstor Kirchner
Néstor Carlos Kirchner was an Argentine politician who served as the 54th President of Argentina from 25 May 2003 until 10 December 2007. Previously, he was Governor of Santa Cruz Province since 10 December 1991. He briefly served as Secretary General of the Union of South American Nations ...
, Filmus proceeded to a runoff election; but he and Heller were amply defeated by the center-right Republican Proposal
Republican Proposal
Republican Proposal is a right-wing political party in Argentina. It is usually referred to as PRO. PRO was formed as an electoral alliance in 2005, but was transformed into a unitary party on 3 June 2010....
candidate, Mauricio Macri
Mauricio Macri
Mauricio Macri is an Argentine businessman turned politician, and Head of Government of the Autonomous City of Buenos Aires. Son of Francisco Macri, a businessman of Italian origin prominent in the industrial and construction sectors, he represented the City of Buenos Aires in the Lower House of...
.
For the Argentine legislative elections of 2009
Argentine legislative election, 2009
Legislative elections were held in Argentina for half the seats in the Chamber of Deputies and a third of the seats in the Senate on 28 June 2009, as well as for the legislature of the City of Buenos Aires and other municipalities.-Background:...
Heller became a candidate for a seat at the lower chamber
Argentine Chamber of Deputies
The Chamber of Deputies is the lower house of the Argentine National Congress. This Chamber holds exclusive rights to create taxes, to draft troops, and to accuse the President, the ministers and the members of the Supreme Court before the Senate....
for the City of Buenos Aires. His candidacy was on top of the joint ticket of his own Solidarity Party (PSOL) and the Kirchnerist
Kirchnerism
Kirchnerism is a term used to refer to the political philosophy and supporters of Néstor Kirchner, president of Argentina from 2003 to 2007, and of his wife Cristina Fernández de Kirchner, President from 2007...
Front for Victory
Front for Victory
The Front for Victory is a Peronist political party and electoral alliance in Argentina, although it is formally a faction of the Justicialist Party. Both the former President Néstor Kirchner and the current President Cristina Fernández de Kirchner belong to this party, located on the left-wing...
. In one of the most important and competitive electoral districts of Argentina, Heller secured a seat in Congress obtaining 12% of the vote, its ticket placed fourth.