David Martinez
Encyclopedia
David Martinez Guzman is managing partner of Fintech Advisory, a firm that specializes in corporate and country debt. Fintech has offices in London and New York. David Martinez studied and earned an electrical engineer title at the Tecnologico de Monterrey (ITESM) in Monterrey, Mexico, and received an MBA from Harvard Business School
. In the late 80s and early 90s, he worked for Citibank.
David Martinez was born to Manuel Martinez and Julia Guzman in Monterrey, Mexico. His family lived an average life until his father received a small fortune from an inheritance. Later, Martinez moved to Rome and enrolled in Legion of Christ
Seminary to become a priest. After just six months he decided he was not suited for that vocation.
Back in Monterrey, Mexico, he enrolled at the Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM or Tec de Monterrey) to study electrical engineering. After earning his diploma, he asked a friend's father for a loan to obtain an MBA at Harvard Business School
, where he excelled as a student and made acquaintances that were helpful later on. After graduating, he asked his grandmother for a US$300,000 loan to start Fintech in New York. After a year he was able to pay the loan plus interest.
When David Martinez turned 30 in 1987, he decided to found Fintech. He has been a successful financier. One of his most remarkable and polemic negotiations was with debt restructuring
of the Mexican chemicals and textile conglomerate CYDSA, one of the companies that rejected him when he was younger. CYDSA agreed to an exchange of debt for equity that would hand control of the company to creditors. Fintech bought US$400 million of CYDSA debt for US$40 million and obtained the 60% of the shares to take control of the company from the founders, the Gonzalez Sada family.
In 2004 Martinez set a record for the highest price paid for a residential property in Manhattan with his US$54.7 million purchase of a penthouse apartment. In 2006 he reportedly set another record for the highest price paid for a piece of art with the purchase of a Jackson Pollock
painting from David Geffen
. Pollock's painting "No. 5, 1948
" sold for US$140 million (£73m), on 1 November 2006. However, the auction expert Josh Baer indicated that Martinez was not the buyer of the painting. In addition, Shearman & Sterling
LLP issued a press release on behalf of its client, David Martinez, to announce that contrary to recent articles in the press, Mr Martinez does not own the painting or any rights to acquire it.
According to the newspaper El Universal from Mexico City, Mr Martinez is from Northern Mexico. Newspaper sources mention that every year he goes to Monterrey to have dinner with his family and that he supports them by sending an allowance every month (to his mother and two sisters). He was one of a few people that worked on relieving Brazil's debt in 2004.
He currently resides in London.
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
. In the late 80s and early 90s, he worked for Citibank.
David Martinez was born to Manuel Martinez and Julia Guzman in Monterrey, Mexico. His family lived an average life until his father received a small fortune from an inheritance. Later, Martinez moved to Rome and enrolled in Legion of Christ
Legion of Christ
The Legion of Christ is a Roman Catholic congregation of pontifical right, made up of priests and seminarians studying for the priesthood. It was founded in Mexico in 1941, by Fr. Marcial Maciel, who directed the congregation as its General Superior until January 2005...
Seminary to become a priest. After just six months he decided he was not suited for that vocation.
Back in Monterrey, Mexico, he enrolled at the Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM or Tec de Monterrey) to study electrical engineering. After earning his diploma, he asked a friend's father for a loan to obtain an MBA at Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
, where he excelled as a student and made acquaintances that were helpful later on. After graduating, he asked his grandmother for a US$300,000 loan to start Fintech in New York. After a year he was able to pay the loan plus interest.
When David Martinez turned 30 in 1987, he decided to found Fintech. He has been a successful financier. One of his most remarkable and polemic negotiations was with debt restructuring
Debt restructuring
Debt restructuring is a process that allows a private or public company – or a sovereign entity – facing cash flow problems and financial distress, to reduce and renegotiate its delinquent debts in order to improve or restore liquidity and rehabilitate so that it can continue its...
of the Mexican chemicals and textile conglomerate CYDSA, one of the companies that rejected him when he was younger. CYDSA agreed to an exchange of debt for equity that would hand control of the company to creditors. Fintech bought US$400 million of CYDSA debt for US$40 million and obtained the 60% of the shares to take control of the company from the founders, the Gonzalez Sada family.
In 2004 Martinez set a record for the highest price paid for a residential property in Manhattan with his US$54.7 million purchase of a penthouse apartment. In 2006 he reportedly set another record for the highest price paid for a piece of art with the purchase of a Jackson Pollock
Jackson Pollock
Paul Jackson Pollock , known as Jackson Pollock, was an influential American painter and a major figure in the abstract expressionist movement. During his lifetime, Pollock enjoyed considerable fame and notoriety. He was regarded as a mostly reclusive artist. He had a volatile personality, and...
painting from David Geffen
David Geffen
David Geffen is an American record executive, film producer, theatrical producer and philanthropist. Geffen is noted for creating Asylum Records in 1970, Geffen Records in 1980, and DGC Records in 1990...
. Pollock's painting "No. 5, 1948
No. 5, 1948
No. 5, 1948 is a painting by Jackson Pollock, an American painter known for his contributions to the abstract expressionist movement. The painting was done on an 8' × 4' sheet of fiberboard, with thick amounts of brown and yellow paint drizzled on top of it, forming a nest-like appearance. It was...
" sold for US$140 million (£73m), on 1 November 2006. However, the auction expert Josh Baer indicated that Martinez was not the buyer of the painting. In addition, Shearman & Sterling
Shearman & Sterling
Shearman & Sterling LLP is a law firm headquartered in New York City with 20 offices located in major financial centers around the world founded in 1873. It is well known for both its litigation and transactional capabilities, especially in International Arbitration, Capital Markets, Finance, and...
LLP issued a press release on behalf of its client, David Martinez, to announce that contrary to recent articles in the press, Mr Martinez does not own the painting or any rights to acquire it.
According to the newspaper El Universal from Mexico City, Mr Martinez is from Northern Mexico. Newspaper sources mention that every year he goes to Monterrey to have dinner with his family and that he supports them by sending an allowance every month (to his mother and two sisters). He was one of a few people that worked on relieving Brazil's debt in 2004.
He currently resides in London.