Heidi CaleroHon. Heidie Calero

Cónsul Honorario

Consulado de Suecia



Sweden Abroad - Ministry for Foreign Affairs

The official gateway to Sweden


About Heidie Calero

President of H Calero Consulting Group, Inc.

Heide Calero, is an experienced economist, graduated from the University of York in England and a lawyer, graduated from the University of Puerto Rico.


  • As Senior Vice President at Drexel, Burnham, Lambert, P.R and Executive Vice President and Manager for Salomon Brothers, Inc. in Puerto Rico, two of the top multinational investment bankers in the US, she was responsible for the financing of major projects for both the public and private sectors.
  • She established and headed the Economics Department of Citibank, N. A. in Puerto Rico. In this position, she distinguished herself by combining a solid economic background and successfully translating it into pragmatic research applicable to a financial institution.
  • First economist to occupy a position in the Office of Management and Budget of the Government of Puerto Rico. There, she was responsible for the forecast of fiscal revenues.


  • Received the Top Business Women award of the Sales and Marketing Association; Distinguished Alumni award of the University of Puerto Rico; Top Business Person award of El Nuevo Día newspaper.
  • Prepared presentation defending Section 936 which was submitted to the US Treasury Department. Lobbied on behalf of elimination of P.R.'s Closing Law; defense of local minimum wage; adoption of PREPA's subsidy on residential electricity; amendments to DACO's regulations for school textbooks.
  • Member of various boards of directors, among them, Scotiabank of PR, PR Society of Legal Assistance, and of MMM.
  • Past president of the Puerto Rico Economic Association and the Financial Analysts Association.

Major Research

  • Designed an economic model for the automobile market in Puerto Rico as well as a financial model used in the privatization of the telephone company in Venezuela (CANTV).
  • Prepared an evaluation of Health Care Plans in PR for the College of Physicians and Surgeons. Responsible for the preparation of the Master Plan for Aguadilla's Waterfront. Headed the Center for Applied Economics, managing the Economics of Status Project of 1996, sponsored by the Mellon Foundation.
  • Conducted numerous feasibility studies for shopping centers; housing projects; entertainment park; small loan companies; mortgage banks; time sharing vacationing complex; manufacturing of decorative jewelry; manufacturing of coins and medals in precious and semiprecious metals; flea market; clinical and imaging laboratories as well as other health related facilities.
  • Market studies include radio; tourism; services, commerce; continuing education for professionals; Section 936; construction; automobile; real estate markets; gas industry; beer market; establishing of bank branches. Developed a proprietary Market Potential Index to asses site potential for businesses.

Publications, excerpt

Inside The Puerto Rico Economy Book: Inside the Puerto Rico Economy

One-of-a-kind publication. Authoritative and absorbing, it is designed to help you understand Puerto Rico’s economy better and to witness an eye-opening experience.

  • "Overview of the San Juan Metropolitan Area Real Estate Markets", Market Profiles, Urban Land Institute, 1995, 1996, 1997, 1998, 1999.
  • Negrón Portillo, Santana Rabell, editors, La Administración Pública de Puerto Rico ante el Siglo XXI, UPR, 1996.
  • "Competitividad: Marco Conceptual para Puerto Rico", Estrategias para el Desarrollo, Cámara de Comercio de Puerto Rico, 1997
  • PR Economic Pulse, monthly economic newsletter.
  • PR Economic Compass, quaterly aconomic indices and newsletter.

Litigation Support

  • In litigation support, served as expert witness in cases of: loss of income, valuation of damages, Law 75, allegations against investment banking institutions, monopoly, breach of contracts and competitive concentration.
  • Certificate of Need Cases
  • Litigation Support Cases


  • As a widely recognized and respected professional, she is frequently asked to be a speaker before meetings and workshops of professional, trade associations, corporations, and non-profit institutions. 
  • Conference Service/Presentations


Union Plaza, Suite 1111
416 Ponce de León Ave.
San Juan, PR 00918


787 756-5715


787 756-4078


Planar Client Options
Layout Style
  • Wide
  • Boxed
Theme Preview