About Luis Carlos Sarmiento

About Luis Carlos Sarmiento

The main sphere of his income – bank as he is the president and the co-owner of a large bank with the world name Grupo Aval Acciones y Valores, SA.

However he began his career as a simple administrator of a construction company.

The only Colombian billionaire who enters 200 richest people of the world (according to the Forbes magazine he takes the 167th place in the world). His independently earned fortune is estimated in 4,7 billion US dollars today.

The main sphere of his income – bank as he is the president and the co-owner of a large bank with the world name Grupo Aval Acciones y Valores, SA.

However he began career as a simple administrator of a construction company. Gradually he earned quite a good reputation as a careful and provident person. It gave him a chance considerably to increase the level of the income, and he started buying up the companies – one by one, generally banking and other financial institutions. When the number of companies became heavy to operate, he founded the Grupo Aval holding company. It allowed him to unite under one beginning all interests in bank and property spheres, and also the telecommunication companies.

Now his corporation provides the most different types of services – from loans and credits to insurance. Besides, he possesses about 22% of all bank assets of the country.

He adheres to conservative ways of management, however in the conditions of the unstable market such approach allowed him not only to keep the state and the companies, but also to receive a noticeable gain of profit. The base which he created started bringing especially good income a few years ago, when take-off was outlined in the Colombian economy. 2005 and especially 2006 made huge profit thanks to what Luís Carlos's company became the largest in Colombia and one of the largest in America.

Today Grupo Aval is coped not only by Mr. Sarmiento, but also his son, Luís Carlos Jr. who, most likely, will inherit the right to operate the empire after his father’s death.

Except work with already created company, Luís Carlos Sarmiento constantly is in search of new innovative projects. In particular, at present he together with the wealthy partner from Venezuela study a question of acquisition of the license for telecasting in the territory of Colombia.

Except Luís Carlos Jr., Mr. Sarmiento has four more children. He likes to spend with them and his wife all free time, especially often coming out to their own island on the Bahamas.

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