Who is Luis Carlos Sarmiento?

Who is Luis Carlos Sarmiento?

His maim sphere of income is banking as he is a president and a co-owner of a large bank with a global name Grupo Aval Acciones y Valores, SA. However, he started his career as a simple administrator of building company.

The only Columbian billionaire who is one of the 200 wealthiest people in the world (according to Forbes, he occupies the 167th place in the world). His net worth is estimated as high as 4.7 billion US dollars.

His maim sphere of income is banking as he is a president and a co-owner of a large bank with a global name Grupo Aval Acciones y Valores, SA. However, he started his career as a simple administrator of building company.

He gradually developed a good reputation of being cautious and prudent.

This gave him an opportunity to significantly increase his level of income, and he began to acquire companies, one by one, mainly banking and financial institutions. When it became difficult to manage all the companies, he founded the holding company Grupo Aval. This allowed him to gather all his banking, real estate, and telecommunication interests.

Currently his company offers a large variety of services – from loans and credits to insuring. Moreover, he owns 22 % of all bank assets of the country.

He holds to conservative management techniques, yet, in the circumstance of unstable market, this approach allowed him not only to safe the estate and the companies but also gain a noticeable income increase. The foundation he created began to bring an especially good income a few years ago when Columbian economy promised to have a rise. 2005 and especially 2006 brought enormous incomes thanks to which Luis Carlos’s company became the largest in Columbia and one of the largest in North and South America.

Today Grupo Aval is run not only by Mr. Sarmiento but also his son Luis Carlos Junior who is most likely to inherit the right to run the father’s empire.

Apart from the mentioned company, Luis Carlos is always in the search of new innovative projects. In particular, together with a rich partner from Venezuela, he works out the issue of purchasing the license on broadcasting across Columbia.

Except Luis Carlos Junior, Mr. Sarmiento has four more children. He likes spending all his free time with them and his wife, especially travelling to his own island in the Bahamians.  

 

2014 Newsbanker.net   All Rights Reserved