by The International Consortium of Investigative Journalists
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Former Buenos Aires finance minister

Néstor Grindetti

Offshore company used a Swiss bank account

Related to  Argentina
Data from: Panama Papers
Néstor Grindetti served as finance minister of Buenos Aires when the city was led by current Argentine President Mauricio Macri. In December 2015, Grindetti was sworn in as mayor of Lanús, an industrial city south of Buenos Aires but still within the greater Buenos Aires metropolitan area. As economist, Grindetti worked over 25 years for the business empire created by Macri’s father. He also headed the Believe and Grow foundation created in 2001 by the younger Macri. He and the president are both members of center-right political party known as PRO.

In the data

From July 2010 to June 2013, Grindetti had power of attorney for Mercier International SA, incorporated in Panama in 2010, to handle company funds deposited with Swiss private bank Clariden Leu Limited. The only shares of Mercier were bearer shares, which help obscure ownership of companies. During the period in which Grindetti handled the assets of Mercier, he served as finance minister of Buenos Aires, appointed by Mauricio Macri, who then headed the capital’s government and is now Argentina's president. Grindetti did not disclose his connection to Mercier or to the Swiss bank account in his annual asset disclosure reports from 2010 to 2013.


Grindetti said he would not respond because he faced "a great political challenge" and didn't "have time to reply."
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