At the end of April, a communication from a financial firm turned on warning lights in the city of Buenos Aires. He alerted his clients of a alleged exchange run. The rumor spread and ended, like a self-fulfilling prophecy, in a blue dollar jump which filled the market, and also the Government, with uncertainty. The company in question is called Max Capital and one of its partners is Ignatius Tillard, son of Daniel Tillard, who at this time is being considered to occupy the presidency of the key National Bank under the mandate of Javier Milei.
In those days, the brokerage company spread a message among its clients that predicted a jump in the dollar for April 24, which generated a run that triggered the exchange rate and generated strong uncertainty, since it even questioned the continuity of the minister Sergio Massa in charge of Economy.
The message from Max Capital stated: “VERY strong rumors of a currency devaluation on Monday are circulating in the local market. The BCRA would not allow any importers to access the foreign exchange market today, telling them that the window will reopen on Monday. Rumor has it that this is why President Fernández resigned from the presidential race today.” “The rumor is a 50% devaluation right at the opening. The question at the local level is whether Massa will remain in office afterwards,” he added.
Massa denounced the company for stirring up unfounded rumors of devaluation. The firm apologized and claimed that it was an employee error. “We are aware that, in a context like the current one, the reckless reproduction of unsubstantiated rumors magnifies the wave of rumors and generates greater uncertainty and exchange rate pressures in the market, with the consequent negative impact on the prices of Argentine bonds and stocks. , as well as with regard to financial dollars,” the firm explained.
Who are the partners of Max Capital?
Ignacio Tillard is among the partners of Max Capital along with Juan Rodríguez Braun (with family ties to the Braun family, owners among many other businesses of the “La Anónima” supermarket chain and with former Macrista officials such as Miguel Braun and Marcos Peña), Tomás Vassolo, Diego Azzato, Horacio López Keena, and Justo Beguerie (direct descendant of the Martínez de Hoz family).
On its website, Max Capital defines itself as “a leading financial advisory company, combining experience with young energy and innovation.” They also add: “We provide Sales & Trading, Capital Markets and Wealth Management services, both to institutional and corporate clients as well as individuals, based on a fundamental principle: putting our clients’ interests first. We operate in all relevant markets (ByMA, MAE, Matba Rofex and MAV) as ALyC and as AN Own registered under Number 570 of the National Securities Commission.”
“We trust in what we do, how we do it and who we do. People are our main capital,” promises the firm whose managing partner is Juan Rodríguez Braun, a financial sector executive, former MBA Lazard.
Who is Ignacio Tillard?
Ignacio is the son of Daniel Tillard and the economist Julia Couzo Peñaloza. Daniel, who is in the running to be head of the BNA, presided over the Bank of Córdoba for 8 years, from which he said goodbye days ago with the intention of taking up the new position.
Tillard’s past is hazy. He has a long history of complaints behind him. He was undersecretary of Patrimonial Normalization, in charge of managing the liquidated entities, such as Obras Sanitarias de la Nación, during Domingo Cavallo’s time in the Alliance government.
He held various positions in different financial entities. One of them at Banco Provincia when he was under the management of the potential Minister of the Interior of Milei, Guillermo Francoswith whom he has a personal friendship.
daniel tillard.jpg
No less controversial is the past of Ignacio Tillard’s mother, Julia Couzo Peñaloza. She was responsible for the Pánasis health manager during Menemism, and was accused of having embezzled millionaire funds from the National Health Insurance Administration, Pami and the DGI. The few chronicles that remain from those years mention that Daniel Tillard himself interceded to try to safeguard his then partner.
Pánasis was a health manager who was accused of having embezzled millionaire funds from the Anssal (National Health Insurance Administration), the PAMI and the DGI, which were apparently diverted to certain bank accounts and never reached their destination, the ADOS ( Association of Social Works) of San Juan.
According to what is said, Tillard personally traveled to San Juan in 1997, when the scandal over the lack of care for the sick was already growing, presenting himself as a member of Pánasis’ staff.
Julia fulfilled a key task: obtaining the millionaire subsidies from Anssal. She was a fugitive from Justice, with a national and international arrest warrant, as was her brother Enrique, who died in 2020. The Supreme Court of that time requested the case and granted them exemption from prison.
Source: Ambito
