History of David Martínez (businessman) in Timeline

David Martínez Guzmán is a Mexican investor and the founder and managing partner of Fintech Advisory, a firm specializing in corporate and sovereign debt. With offices in London and New York City, Martínez divides his time between these two locations, focusing on investment strategies and financial management. He is primarily known for his work in the financial sector, particularly in areas related to debt and investment advisory services.

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Full Timeline Career & Achievements Controversies & Scandals

1957: Birth

In 1957, David Martínez Guzmán was born in Monterrey, Nuevo León, Mexico.

1985: Departure from Citigroup

In 1985, David Martínez left Citigroup, where he had been working on the emerging markets desk in New York, dealing with distressed debt.

1987: Founding of Fintech

In 1987, at the age of 30, David Martínez started Fintech, reportedly with a US$300,000 loan from his grandmother. He repaid the loan with interest within a year.

1994: Investment in Argentine Government Bonds

In 1994, David Martínez invested in the Argentine economy by purchasing government bonds with a 37-year maturity for $834 million.

1997: Land Purchase in San Pedro Garza Garcia

In 1997, David Martinez bought a plot of 874 square meters in the municipality of San Pedro Garza Garcia.

December 2001: Economic Fortunes and the Kirchners

In December 2001, the Italian newspaper Corriere della Sera noted that the rise in David Martínez's economic fortunes coincided with the political rise of the Kirchners after Argentina's economic collapse.

2001: Argentina's Debt Default

Following Argentina's 2001 debt default, the regimes of Néstor Kirchner and Christina Kirchner Fernandez have rejected every tenet of global finance, which lead to long term repercussions for the country.

September 2003: Meeting with Guillermo Nielsen in Dubai

In September 2003, Guillermo Nielsen, then Secretary of Finance under Nestor Kirchner, met David Martínez in Dubai to discuss the restructuring of Argentina's debt, initiating a series of meetings.

2003: Purchase of Manhattan Apartment

In 2003, David Martínez purchased an apartment in the Time Warner Center in Manhattan for approximately $42 million.

2004: Purchase of Argentine Bonds

Between 2004 and 2006, David Martínez invested $100 million in the secondary market to purchase Argentine bonds with a nominal value of $700 million.

2004: Involvement with the Sada Family Firms

In 2004, David Martínez assisted the Sada family when one of their firms went bankrupt, demonstrating his deep connections within Monterrey's business circles.

2005: Participation in the Argentine Debt Exchange

In 2005, Fintech participated in the exchange offer, with David Martínez believing that reducing Argentina's liabilities was crucial for its economic recovery.

2005: Extension of Broadcast Licenses

In 2005, President Kirchner signed a decree extending broadcast licenses by 10 years.

November 2006: Reported Purchase of Pollock Painting

On November 1, 2006, it was reported that David Martínez set a record for the highest price paid for a piece of art with the purchase of a Jackson Pollock painting "No. 5, 1948" from David Geffen for US$140 million (£73m). However, this was later denied.

2006: Purchase of Argentine Bonds

Between 2004 and 2006, David Martínez invested $100 million in the secondary market to purchase Argentine bonds with a nominal value of $700 million.

2006: Meeting with Nestor Kirchner and Investment in Cablevisión

In 2006, David Martínez met Nestor Kirchner at the Argentine Consulate in New York. Shortly after, Martínez purchased 40% of Cablevisión, the cable television system of Grupo Clarin.

December 7, 2007: Approval of Cablevisión Merger

On December 7, 2007, three days before leaving office, President Néstor Kirchner signed a decree permitting the merger of Clarin and David Martínez's Cablevisión.

2007: Attendance at Cristina Fernández de Kirchner's Inauguration

In 2007, David Martínez attended the inauguration of Cristina Fernández de Kirchner, further cementing his ties with the Argentinian government.

May 2010: Rothko Painting Auction and Lawsuit

In May 2010, David Martínez was identified as the seller of Mark Rothko's "Untitled (1961)" at Sotheby's, which led to a lawsuit against him by Dallas art collector Marguerite Hoffman, who claimed breach of contract. The painting was auctioned for $31.4 million.

October 11, 2012: New York Times Report on Vitro Bankruptcy

On October 11, 2012, The New York Times reported on David Martínez's involvement in the bankruptcy of Vitro, a Mexican glassmaking firm, amid allegations of misconduct.

October 2012: Report on Pollock Work Hanging in NY Apartment

In October 2012, The New York Times reported that despite denials, "several people with knowledge of" David Martínez's collection stated that the Jackson Pollock painting "No. 5, 1948" hangs in his New York apartment.

2012: Included in ARTnews Top Collectors List

In 2012, David Martínez was included in the ARTnews list of the world's 200 Top Collectors.

2012: Lawsuit by Elliott Associates and Other Hedge Funds

In 2012, Elliott Associates, led by Paul Singer, and other hedge funds sued Vitro and Fintech in the U.S., claiming that David Martínez had helped Vitro "muscle investors out of hundreds of millions of dollars through financial sleight of hand."

March 7, 2013: Article in the Financial Times

On March 7, 2013, David Martínez published an article in the Financial Times, arguing that Judge Griesa's "interference" could hinder future sovereign restructurings, setting a dangerous precedent.

September 2013: Purchase of Banco Sabadell Shares

In September 2013, David Martínez reportedly purchased 5 percent of Banco Sabadell.

November 10, 2013: Article in The Wall Street Journal

On November 10, 2013, The Wall Street Journal described David Martínez's decision to invest in Argentina as "an unusual call" due to the country's financial history.

November 14, 2013: Fintech Group Agrees to Purchase Telecom Argentina Stake

On November 14, 2013, Bloomberg News reported that Fintech Group had agreed to pay $860 million for Telecom Italia SpA's 68 percent stake in Sofora Telecomunicaciones, the controlling company of Telecom Argentina, plus $100 million for related assets, totaling $960 million.

March 2014: Negotiations for Bondholder Exit

In March 2014, David Martínez convened representatives of funds holding Argentine bonds to negotiate a joint exit, with José Luis Manzano also involved. They indicated government approval for the deal, and JP Morgan was asked to provide an attractive offer.

March 2014: Appointment to Banco Sabadell's Board of Directors

On 27 March 2014, David Martínez was appointed as a member of the Board of Directors of Banco Sabadell.

2014: Ownership Stake in Cablevisión

As of 2014, David Martínez held 40 percent of Cablevisión, despite concerns about the legality of owning major stakes in both Telecom Argentina and Cablevisión under Argentinian law.

2014: Sale of Francis Bacon's Portrait

In 2014, David Martínez sold Francis Bacon's "Portrait of George Dyer Talking (1966)" for $70 million to an American collector at Christie's London.

March 2017: Loan to Venezuela and US Treasury Investigation

In March 2017, David Martinez's FinTech Advisory provided a $300 million loan to Venezuela, secured by bonds with a face value of $1.3 billion. This led to a U.S. Treasury Department investigation into Martínez and consideration of potential sanctions.

April 2018: Re-election to Banco Sabadell's Board of Directors

On 19 April 2018, David Martínez was re-elected to the Board of Directors of Banco Sabadell.

December 2018: Offer from Venezuelan officials

In December 2018, Venezuelan officials reportedly offered David Martínez bonds in exchange for participation in the state-owned electricity company Corpolec. The amount of Venezuelan debt held by Martínez was estimated between $3 billion and $10 billion. Opposition politicians warned that Martínez's activities were "oxygenating" the Maduro government.

2018: Contact with Latin American Economists

In 2018, David Martinez contacted Latin American economists, including former finance ministers under Ecuadorian President Rafael Correa, Patricio Rivera and Fausto Herrera, to advise Maduro's government prior to Venezuela's currency reconversion on August 20. Martínez has denied these links.