Álvaro Noboa

Álvaro Fernando Noboa Pontón

was born on November 21 St, 1950 in the city of Guayaquil. His father was Luis Noboa and his mother was Mrs. Isabel Pontón. He was always the best student in high school, both at the San Jose La Salle Catholic School in Guayaquil as well as the Institut Le Rosey in Switzerland. He entered the Guayaquil State University and later on he graduated as a lawyer. He also took Business Administration courses at the American Management Association in New York. He is trilingual. Alvaro decided to pursue his professional career in the business field as a successful entrepreneur.

His life is a clear example of leadership, of the capacity to oppose what is improperly established, of the will to stand by his principles, of the discipline required to change habits, of the perseverance to fulfil the cherished dreams of his heart, of the capacity to create and maintain large companies and of the gift to govern. These qualities have made Alvaro excel as the entrepreneurial, social and political leader of Ecuador.

Bussines Man

Alvaro Noboa is a self-made billionaire, and although his father was also a billionaire, Alvaro pursued his own business path. On the television programme ‘Quiero ser Presidente’ (‘I want to be President’) Noboa confessed: "I was already a multi-millionaire by the age of 27. When I turned forty-three, my father passed away, leaving me 7 million dollars out of a fortune of 1.2 billion dollars. I'm grateful."

In 1973, he established [Promandato Global S.A.], a firm that unites several real estate companies considered to be one of the largest firms in Ecuador.

In 1988, he established [‘Revista La Verdad’], a monthly magazine.

In April 22nd, 1988, he founded [Banco del Litoral], one of Ecuador’s most reliable banks. Two years later, he established the [Global Financing Company] and other investment companies on an international scale. All these companies and businesses together became known as [Grupo de Empresas Ab. Alvaro Noboa P.]

In November 2002 a London judge found that Álvaro Noboa rightfully owned a 50.1% stake in Fruit Shippers Ltd., the holding company for the family business. That stake is worth $300 million, we estimate. Álvaro, who has made Forbers' billionaire's list previously, claims his assets are worth at least $1 billion.

From the court’s ruling:

“The principal business of [Luis Noboa] was the export of bananas. But at the time of his death his interests also included coffee, sugar refining, flour milling, shipping, banking, insurance and soft drinks. The principal Ecuadorian company engaged in the banana business was Exportadora Bananera Noboa S.A. (EBN). The ultimate holding company and the company owning most of the overseas business was [Fruit Shippers Ltd.] a company incorporated in the Bahamas.”

The court found Álvaro Noboa “an impressive and attractive witness” who “gave his evidence in a forthright manner.” He was described as “plainly intelligent, direct, tough, strong-minded and a dominant personality.”

In a major Commercial Court case Alvaro Noboa, represented by Cadwalader, Wickersham & Taft and their barrister team from One Essex Court, won an overwhelming victory. LONDON--(BUSINESS WIRE)--Nov. 21, 2002

The Judge, The Hon. Mr. Justice Langley, rejected the evidence of the sisters and he held that their evidence was untruthful and "had been starkly exposed as inconsistent, lacking coherence and wholly unreliable". The Judge accepted Lord Grabiner's submission that the sisters' claim "was brought dishonestly".

His exporting company, Exportadora Bananera Noboa, had sales of $220 million in 2004 and $219 million in 2005 .

Since 2003 Alvaro Noboa has been attending the annual Entrepeneurial Meeting for Latinamerican businessmen. The summit was born in the 2003 by initiative of the Mexican Carlos Slim personal friend of Mr. Noboa.

The meeting was not meant to discuss their business concerns but rather to broach social issues in the region. It has been held at Mexico 2003 , Dominican Republic 2004, Brazil 2005 , Argentina 2006 , Chile 2007 and Panamá 2008 .

Helping people

In 1977, the special social sensitivity that his mother Isabel Ponton and his grandmother Zoila de Noboa always instilled in Alvaro took shape in the establishment of [Fundación Cruzada Nueva Humanidad (Crusade for a New Humanity Foundation)], which began with the philosophy of fighting misery, disease, ignorance, spiritual weakness, hatred and other misfortunes that afflict man. The Foundation is based on the Christian beliefs of love, unity and self-improvement; beliefs manifested in its deeds. Twenty-seven years later, the foundation continues with its mission.

The New Humanity Crusade is a Humanitarian movement inspired and strenghtened by God, a brotherhood whose objectives are to fight misery, ignorance, spiritual poverty, hate, humanity's diseases and to bring about the transformation of man into both a believer and a practicing Christian, namely in love, union and the will to excel evermore.

Currently, the medical brigades of the "New Humanity Crusade" Foundation are carrying out a plan of nationwide scope for permanent medical service and assistance to marginal aereas of various rural populations and cities, staying always alert for emergency cases.

In the companies controlled by Alvaro Noboa there is a deep social awareness. The Bonita Banana plantations and cattle haciendas include schools created by the company

Political Activities

In August 1996 he was appointed president of Ecuador's monetary board. While running this institution Alvaro managed to raise the international monetary reserves of Ecuador in six months, and to lower interest rates by 12 percentage points. Since then, the monetary reserves of Ecuador, despite the country adopting the US dollar as its currency, have not reached the peak that Alvaro Noboa achieved.

In 1998, Alvaro Noboa became the outside runner in the presidential elections. He achieved a technical draw with the man who then became President of Ecuador. Alvaro’s popularity was left unscathed, and on 20 September 2002 all polling companies with the exception of one predicted that Alvaro Noboa would have become President of Ecuador if the elections had been held on that day. Today, polls show that Alvaro Noboa remains the number one choice of the Ecuadorian citizen to become the next President of Ecuador.

In 2002, Alvaro Noboa created the Institutional Renewal Party of National Action (Partido Renovador Institucional de Acción Nacional, PRIAN)

The Party was an success and gained ten seats in congress in less than six months after its establishment

External links

• Template:Es icon PRIAN campaign official website
• Template:En icon PM COMMUNICATIONS
• Template:En icon Alvaro Noboa The Entrepreneur
• Template:En icon Activities of New Humanity Crusade