| Jaime Gilinski Bacal | |
|---|---|
| Born | 14 December 1957 Cali, Valle del Cauca, Colombia |
| Alma mater | Harvard Business School |
| Occupation | Banker, Real Estate Developer, Philanthropist |
| Religion | Jewish |
Jaime Gilinski Bacal (Hebrew: ג 'יימי גילינסקי born 14 December 1957) is a Colombian banker, real estate developer, and philanthropist. Gilinski currently resides in London, United Kingdom.
Contents |
Jaime Gilinski earned his B.S. in Industrial Engineering from Georgia Tech in 1978, and an M.B.A. from Harvard Business School in 1980.
In the 1990s Gilinski acquired the Colombian assets of BCCI (Bank of Credit and Commerce International) for a nominal sum after its global collapse. Renamed Banco Andino,it became one of the most efficient banks in the Colombian banking system within 4 years. The Gilinski Group sold the reconstituted bank to Ecuador’s Nicolás Landes for a reported US$70 million.[1]
The family then moved to purchase Banco de Colombia for US $365 Million, in what was then the largest privatization in Colombia's history. Billionaire investor George Soros invested US$ 50 Million along with over 100 European and North American institutional investors. They later sold control of the bank to Banco Industrial Colombiano, and its controlling stakeholder Sindicato Antioqueño, in a deal valued at US$ 800 Million — a transaction that ranks among Colombia’s largest. [2] Gilinski received US$ 418 Million for its stake and retained a minority position in the new bank as part of the deal. As of 2011, Bancolombia was the largest bank in Colombia with a market capitalization of US $13 Billion in the NYSE.[3]
In 2003, Jaime Gilinski acquired and subsequently merged Banco Sudameris and Banco Tequendema. This merger created GNB Sudameris, a bank with assets of over US $6 billion that ranks among the top 10 largest banks in Colombia. The purchase of Servibanca, an ATM network with over 1,500 machines, and Suma Valores, a stock exchange commission agent company, has further expanded the network.[3]
The Gilinski group also owns Yupi, a well-known snack food company in Latin America, and exports to nine countries. Yupi has a 30% market share in the Colombian snack food products segment, second only behind Frito Lay. Gilinski Group also owns Rimax Plastics, which was founded by Isaac Gilinski.[4]
Jaime Gilinski serves as the Chairman for JGB Financial Holding Company, which owns JGB Bank, since 1994. JGB Bank is a South Florida-based financial institution.[5] Jaime Gilinski received good news in March 2009 when the Federal Reserve announced that they were releasing JGB National Holding Co. from a cease-and-desist order. This order, issued by regulators in March 2005, prevented JGB Bank from transferring its assets to any of Jaime Gilinski’s other holdings. JGB National Holding Co. was also required to improve internal controls and ensure compliance with the anti-money laundering Bank Secrecy Act.[6]
In partnership with London & Regional Properties, Jaime Gilinski is developing the Panama Pacifico[7] business and residential development in Panama City, Panama. Jaime Gilinski and his partners Ian and Richard Livingstone bested 16 other international firms to develop the project. The US $700 million project, based on the former Howard Air Force Base in Panama, includes 2,750 acres (11.1 km2) of land, which makes it one of the largest development projects in the world. Due to the site's proximity to the Panama Canal and an unused air strip, Panama Pacifico is an excellent location to build a hub for international trade, commerce, and industry.
Panama Pacifico is expected to create 20,000 jobs. It is also projected to be worth around US $10 billion when finished, which is equivalent to more than half of Panama's gross national product.[8]
In the 1990s, the Gilinskis contributed US$ 8 million dollars to the Fundacion Santa Fe. This was during Jaime Gilinski’s time as chairman of Banco de Colombia.[9]La Fundación Santa Fe de Bogotá supports Santa Fe Hospital in Bogotá. Founded in 1972, this hospital is recognized as Colombia’s most technologically-advanced.[10]
Mr. Gilinski is the Chair of Capital Projects for The Chabad House at Harvard University.[11] The Chabad House at Harvard is a Jewish student organization that provides educational, social, and recreational programming for students and faculty.[12] Through the Jaime and Raquel Gilinski Endowment, Mr. Gilinski supports the David Rockefeller Center for Latin American Studies at Harvard University.[13]
Jaime and Raquel Gilinski have also established the Jaime and Raquel Gilinski Fellowship at Harvard Business School. Mr. Gilinski is an established investor with extensive experience across different sectors throughout Latin America and the United States. Mr. Gilinski has spent the majority of his career in Colombia working on business strategy for a number of companies. He currently has extensive holdings in the banking, real estate, and telecommunications sectors. Mr. and Mrs. Gilinski have been committed to providing opportunity to bright students from Latin America throughout their lives. This fund is to be awarded to deserving MBA students from Colombia and Panama, with a secondary preference for students from other Latin American countries including Chile, Ecuador, Peru, and Venezuela.[14]