Luis Carlos Sarmiento

Luis Carlos Sarmiento Angulo (born 27 January 1933[3]) is a Colombian billionaire and the wealthiest man in Colombia, with a net worth of $12.2 billion, as of 2020, that derives from the banking conglomerate Grupo Aval Acciones y Valores, SA, of which he is the majority shareholder and chairman.

Luis Carlos Sarmiento Angulo
Born (1933-01-27) 27 January 1933
Bogota, DC, Colombia
NationalityColombian
Alma materUniversidad Nacional de Colombia
Known forPresident of [OLCSAL], Chairman of [Grupo Aval Acciones y Valores, SA]
Net worthUS$12.2 billion (February 2020)[1]
Spouse(s)Fanny Gutiérrez de las Casas (1955-present)
ChildrenMaria Claudia Sarmiento G., Luz Angela Sarmiento G., Luis Carlos Sarmiento G., Adriana Sarmiento G., y Sonia Sarmiento G.
AwardsOrder of Boyacá
2004 Grand Cross[2]
Order of the Congress of the Republic (Colombia)
2004 Grand Officer[2]
This article uses Spanish naming customs: the first or paternal family name is Sarmiento and the second or maternal family name is Angulo.

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.

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See also

References
  1. "Luis Carlos Sarmiento". Forbes. Retrieved 20 November 2019.
  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.
  3. "Personas Ilustres y Destacadas de Bogotá". Colombia-SA. Retrieved 2010-02-05.
  4. Corporate titans: most powerful Latin CEOs: Executive Strategies for the Americas, October, 2000
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