Luis Carlos Sarmiento

Luis Carlos Sarmiento Angulo
Born 27 January 1933
Bogotá, D.C., Colombia
Nationality  Colombia
Education Civil Engineer (B.A.)
Alma mater National University of Colombia
Known for President of Grupo Aval Acciones y Valores, SA
Net worth Increase US$12.9 billion (2015)[1]
Religion Roman Catholic
Spouse(s) Fanny Gutiérrez de las Casas (1955-present)
Children Adriana Sarmiento Gutiérrez
María Claudia Sarmiento Gutiérrez
Luis Carlos Sarmiento Gutiérrez
Sonia Sarmiento Gutiérrez
Luz Angela Sarmiento Gutiérrez
Awards Order of Boyacá
2004 Grand Cross[2]
Order of the Congress of the Republic (Colombia)
2004 Grand Officer[2]
This name uses Spanish naming customs: the first or paternal family name is Sarmiento and the second or maternal family name is Angulo.

Luis Carlos Sarmiento Angulo (born 27 January 1933[3]) is a Colombian billionaire and the wealthiest man in Colombia with a net worth of USD$12.9 billion as of 2015[4] that derives from the massive banking conglomerate Grupo Aval Acciones y Valores, SA, of which he is the majority shareholder and president.

Career history

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 institutions. 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 backbone of the organization. He is considered one of Colombia's most prudent entrepreneurs, known for his conservative management techniques. This cautious approach helped his financial empire ride the storm generated by 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.[5] Sarmiento's net worth increased significantly between 2005 and 2006, thanks largely to Colombia's blistering 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 son Luis Carlos Jr., whom he is grooming to eventually take over the family empire.

See also

References

  1. ↑ "Luis Carlos Sarmiento". Forbes. 2015-01-02. Retrieved 2015-01-02.
  2. ↑ 2.0 2.1 ""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.
  3. ↑ "Personas Ilustres y Destacadas de Bogotá". Colombia-SA. Retrieved 2010-02-05.
  4. ↑ "The World's Billionaires". Forbes 162. 2011-03-11. ISSN 0015-6914. OCLC 6465733. Retrieved 2011-02-05.
  5. ↑ Corporate titans: most powerful Latin CEOs: Executive Strategies for the Americas, October, 2000