Sub-subject: Luis Carlos Sarmiento Angulo:
the richest men in Colombia. Syllabus:
- The Colombian businessperson Luis Carlos Sarmiento Angulo
- Aval Group
- Luis Carlos Sarmiento Angulo Foundation
Sample of the Sub-subject: Luis Carlos Sarmiento Angulo, the richest men in Colombia:
Sub-Subject Description: Colombian Banker and businessperson
Luis Carlos Sarmiento Angulo.
- The engineer, entrepreneur, philanthropist, and banker Luis Carlos Sarmiento Angulo (Bogota - Colombia, 1933) is since 1999 the President of the Board of “Aval Group - Shares and Values Sa” which controls 90% of the shares.
- He is also a member of the Boards of Directors of “Luis Carlos Sarmiento Angulo Organisation Ltd.,” “Casa Editorial El Tiempo” and “CEETTV (City TV),” “Aval
Group Foundation,” and the “Foundation for the Future of Colombia-Colfuturo.”
- Forbes magazine estimates that he is the richest men in Colombia and the 44th in the World, with an estimated net worth of 17 billion dollars.
- Mr Luis Carlos Sarmiento Angulo is
Catholic (Latin American Economic Area of the Western Civilisation).
- He graduated in civil
- With just twenty-six years old, in 1959, the engineer Sarmiento founded the “Organisation Luis Carlos Sarmiento Angulo.”
- In 1970, he created the company “Alfa Insurance.” In 1972 acquired the “Bank of Occident,” which was virtually in bankrupt, in 1973 he founded the “Save and Housing Corporation Las Villas” and 1974 he founded the “Finance Corporation of Los Andes.”
- In 1975, his Organisation was the largest construction and housing company in Bogota.
- In 1980, acquires shares of “Bank of Bogota,” a process that ended in 1988
and allowed Mr Sarmiento to control more than half of the Bank.
- In 1996, he acquired the “Popular Bank.”
- Between 1998-99, Sarmiento acquires several
Colombian corporations, finally he will integrate into “Corficolombiana” and take advantage of the semi-privatisation of the social security system in Colombia; he founded “Porvenir,” the largest pension fund in Colombia, which
controls 22% of shares.
- In 2010, he acquired “Bac - Credomatic,” the largest Central
American Financial Group.
- Today the “Aval Group” controls the following banks: Bogota, Occidente, Popular and AV Villas, and Corficolombiana. Nearly 47,000 people work in Colombia
in some company of Aval, and 15,000 in other countries. The group has built about 40,000 houses.
“Starting a business is one of the most extraordinary acts of social responsibility. Creating companies create work” Luis Carlos Sarmiento Angulo
Philanthropy - Social responsibility
Sarmiento Angulo created in 1993 “Luis Carlos Sarmiento Angulo Foundation”
funded entirely by him.
“Money is not a thing that can be trusted much. It is certainly important, and I appreciate it, I am proud to have him.
However, I expect that I will be recognised more for my service to the people that for my career, built with dedication and smart, clean decisions, without dark areas” Luis Carlos Sarmiento Angulo
Luis Sarmiento invested 3 million dollars in launching the “Grameen Aval
Colombia,” with the Bangladeshi Nobel Peace Prize winner Muhammad Yunus, near 4.900 Colombians have been able to become entrepreneurs.
Religion, Ethics, and Business