Luis Carlos Sarmiento
Luis Carlos Sarmiento Angulo
|Alma mater||Universidad Nacional de Colombia|
|Known for||President of [OLCSAL], Chairman of [Grupo Aval Acciones y Valores, SA]|
|Net worth||US$12.2 billion (February 2020)|
|Spouse(s)||Fanny Gutiérrez de las Casas (1955-present)|
|Children||Maria Claudia Sarmiento G., Luz Angela Sarmiento G., Luis Carlos Sarmiento G., Adriana Sarmiento G., y Sonia Sarmiento G.|
|Awards||Order of Boyacá |
2004 Grand Cross
Order of the Congress of the Republic (Colombia)
2004 Grand Officer
Luis Carlos Sarmiento Angulo (born 27 January 1933) 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.
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. 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.
- "Luis Carlos Sarmiento". Forbes. Retrieved 20 November 2019.
- ""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.
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