Luis Carlos Sarmiento

Last updated
Luis Carlos Sarmiento Angulo
Luis carlos sarmiento angulo.jpg
Born (1933-01-27) 27 January 1933 (age 89)
Bogotá, Colombia
Alma mater National University of Colombia
Known forMajority shareholder and chairman, Grupo Aval
SpouseFanny Gutiérrez de las Casas (m.1955)
Children5
Awards Order of Boyacá
2004 Grand Cross [1]
Order of the Congress of the Republic (Colombia)
2004 Grand Officer [1]

Luis Carlos Sarmiento Angulo (born 27 January 1933 [2] ) is a Colombian billionaire and the second wealthiest man in Colombia, with a net worth of US$10.3 billion, as of October 2021, that derives from the banking conglomerate Grupo Aval, of which he is the majority shareholder and chairman. [3]

Contents

Career

Sarmiento's career began during the 1950s, building residential and commercial developments. After making his name in the construction business, Sarmiento initiated an acquisitions campaign that has persisted for decades, concentrating on banks and financial service companies. By 2000, he was widely acknowledged as Colombia's top banking mogul, holding an estimated 22 percent of the local banking assets, close to the maximum allowed by law.

Sarmiento founded Grupo Aval as a holding company to gather his banking, telecommunications, and real estate interests. Four major banks, as well as other financial service corporations, form the core of the organization. He is considered one of Colombia's most prudent entrepreneurs, known for his conservative management. This cautious approach helped his financial empire survive the worst recession in Colombia's history. In 2000, plans to list Grupo Aval on the New York Stock Exchange were postponed due to Wall Street's unfavorable climate for emerging market funds. [4] Sarmiento's net worth increased significantly from 2005 to 2006, thanks largely to Colombia's booming stock market, Bolsa de Valores de Colombia, the world's second best performing in 2005. As of 2006, he continues to run Grupo Aval with help from his son Luis Carlos Jr., whom he is grooming to eventually take over.

Luis Carlos Sarmiento Angulo, Founder and Chairman of Grupo Aval (NYSE listed: AVAL), announced COP 80 billion donation to purchase groceries for 400,000 families in need, 300,000 diagnostic tests for Covid-19 and ventilators and other medical equipment. [5]

See also

Related Research Articles

Grupo Financiero Banorte, S.A.B. de C.V., doing business as Banorte and as Ixe, is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator.

<span class="mw-page-title-main">Carlos Slim</span> Mexican business magnate and investor

Carlos Slim Helú is a Mexican business magnate, investor, and philanthropist. From 2010 to 2013, Slim was ranked as the richest person in the world by the Forbes business magazine. He derived his fortune from his extensive holdings in a considerable number of Mexican companies through his conglomerate, Grupo Carso. As of June 2022, Bloomberg Billionaires Index ranked him as the 12th-richest person in the world with a net worth of $78 billion, making him the richest person in Latin America.

The IF Group also known as Grupo Iberoamericano de Fomento or Grupo Fierro is an economic group, originated in Spain, that has investments in Spain and Latin America, mostly in the industrial and financial sectors. The Fierro Group was founded by the Spanish entrepreneur and billionaire Ildefonso Fierro, a prominent Spanish businessman. The group is worth over US$4 billion with an annual net income in excess of US$300 million.

<span class="mw-page-title-main">Millonarios F.C.</span> Colombian football club

Millonarios Fútbol Club is a professional Colombian football team based in Bogotá, that currently plays in the Categoría Primera A. They play their home games at the El Campín stadium.

<span class="mw-page-title-main">Banco Santander</span> Spanish multinational bank

Banco Santander, S.A., doing business as Santander Group, is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres as the 16th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia. It is considered a systemically important bank by Financial Stability Board.

<i>El Tiempo</i> (Colombia) Colombian newspaper

El Tiempo is a nationally distributed broadsheet daily newspaper in Colombia launched on January 30th, 1911. As of 2019, El Tiempo had the highest circulation in Colombia with an average daily weekday of 1,137,483 readers, rising to 1,921,571 readers for the Sunday edition.

<span class="mw-page-title-main">Corficolombiana</span>

Corficolombiana is a Colombian company dealing in financial solutions, with its customers being some of the largest corporations in Colombia. Its primary mission is to provide the necessary capital to promote the creation, growth, reorganisation, merger and expansion of any type of business.

<span class="mw-page-title-main">Escuela Colombiana de Ingeniería</span>

The Escuela Colombiana de Ingeniería Julio Garavito is a private engineering-based university. The school is located on a 70-acre (280,000 m2) campus in a beautiful natural environment in the north part of Bogotá and has approximately 4,600 students in undergraduate and graduate programs. It includes laboratories, computer systems, one of the largest collections of engineering texts and journals in Colombia as well as international and national access to information via the internet.

<span class="mw-page-title-main">Grupo Aval</span> Colombian holding company engaged in financial services

Grupo Aval is a Colombian holding company engaged in a wide variety of financial activities, including banking, telecommunications and real estate; in Colombia and Central America. Grupo Aval is controlled by Luis Carlos Sarmiento, who indirectly owns around 80 percent of its shares.

<span class="mw-page-title-main">Germán Larrea Mota-Velasco</span> Mexican billionaire businessman

Germán Larrea Mota-Velasco is a Mexican billionaire businessman. He is the CEO of Grupo México, Mexico's largest mining corporation, and the third largest copper producer in the world. As of July 2022, his net worth was estimated at US$24.6 billion.

Alberto Cortina de Alcocer is a Spanish businessman. Through his holding Percacer, he is co-owner, with his cousin Alberto Alcocer, of Alcor Holding, the owner of 12.5% of Grupo ACS, the biggest construction company in the world by sales with 2014 revenues of US$50b, and of 21% of Ence, the largest paper pulp and biomass energy company in Europe. He has appeared several years in Forbes List of Billionaires with US$1.4 billion.

<span class="mw-page-title-main">Banco de Occidente Credencial</span>

Banco de Occidente is one of the largest Colombian banks. It is part of the Grupo Aval conglomerate of financial services in Colombia, owned by the country tycoon of finances, Luis Carlos Sarmiento Angulo.

Grupo Financiero Galicia is a financial services holding company based in Buenos Aires, and its banking operations are the fifth largest in Argentina, as well as the largest among all domestically-owned private banks in the country.

Carlos Ardila Lülle was a Colombian entrepreneur and the founder and head of the Organización Ardila Lülle, a major Colombian conglomerate which controls companies such as RCN TV, the Postobon soft drink, and the Atlético Nacional football team. His estate's net worth is estimated at over $1.8 billion U.S. dollars.

<span class="mw-page-title-main">Alejandro Gaviria Uribe</span> Colombian economist

Alejandro Gaviria Uribe is a Colombian economist and engineer, who served as Minister of Health and Social Protection of Colombia from 2012 to 2018. He is the former Rector of the University of Los Andes (Colombia), where he served from 2019 to August of 2021. He was Dean of the School of Economics at University of los Andes in 2006, until his appointment as Minister in 2012. Prior to his academic career, Gaviria served as Deputy Director of the National Planning Department of Colombia, as well as Deputy Director of the Foundation for the Higher Education and Development (Fedesarrollo), a private non-profit policy research centre, and as a Researcher at the Inter-American Development Bank. A published author of several books and scientific articles in peer-reviewed journals, in 2019 he was appointed Rector of University of the Andes for a four-year period.

Juan Carlos Escotet Rodríguez is a Spanish-Venezuelan billionaire banker and the founder of Banesco, the largest private financial instituion in Venezuela. As of March 2022, his reported net worth is estimated at US$3.5 billion.

Media ownership in Colombia is highly concentrated. The four largest newspapers together account for two-thirds of total readership, and the two largest television channels have about two-thirds of the market and 78% of advertising revenues, according to a 2016 study by Reporters Without Borders and the Colombian Federation of Journalists.

Luis Enrique Yarur Rey is a Chilean heir and banker. He serves as the chairman of Banco de Crédito e Inversiones. He is the vice chairman of the Chilean Banking Association. As of December 2016, he is worth an estimated US$1.34 billion according to Forbes.

<i>Pa quererte</i> Colombian telenovela

Pa' quererte is a Colombian telenovela produced and distributed by RCN Televisión that premiered on RCN Televisión on 7 January 2020. The series is an adaptation of the Mexican telenovela Papá a toda madre broadcast on Las Estrellas in 2018. It stars an ensemble cast headed by Sebastián Martínez, Laura de León, Luis Eduardo Arango, and Diana Wiswell. The plot revolves around 4 friends of different ages football fans who have a small team, in addition to this the 4 are non-conventional parents who will have to assume their role as parents. It will air Monday to Friday at 8:00 p.m., replacing El man es Germán.

<span class="mw-page-title-main">Carlos Hank González (businessman, born 1971)</span> Mexican businessman and banker

Carlos Hank González is a Mexican businessman and banker. He is the chairman of Grupo Financiero Banorte, CEO of Grupo Industrial Hermes, vice-chairman of the Board of Directors of Gruma, and a member of the Board of Directors of the Mexican Stock Exchange. He has been ranked by Expansión as one of the most important entrepreneurs in Mexico and is a member of the Business Advisory Council of president Andrés Manuel López Obrador.

References

  1. 1 2 ""Construir La Clase Empresarial Es Muy Difícil, Destruirla Es Muy Facíl": Uribe" ["To Construct the Business Class is Very Hard, To Destroy It Is Very Easy": Uribe] (in Spanish). Colombia, Press Office of the President of Colombia (SNE). 2004-06-08. Retrieved 2011-10-25.
  2. "Personas Ilustres y Destacadas de Bogotá". Colombia-SA. Retrieved 2010-02-05.
  3. "Forbes profile: Luis Carlos Sarmiento". Forbes . Retrieved 12 October 2021.
  4. Corporate titans: most powerful Latin CEOs: Executive Strategies for the Americas, October, 2000
  5. "Luis Carlos Sarmiento Angulo entregó 300 mil kits de pruebas del Covid".