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Jaime Gilinski Bacal

From Wikipedia, the free encyclopedia

Jaime Gilinski Bacal
Born (1957-12-14) 14 December 1957 (age 63)
NationalityColombian
Alma materGeorgia Tech
Harvard Business School
OccupationBanker
Net worthUS$3.6 billion (February 2020)[1]
Spouse(s)Raquel Gilinski
Children4
Parent(s)Isaac Gilinski Sragowicz
Perla Gilinski

Jaime Gilinski Bacal (born 14 December 1957) is a Colombian banker and real estate developer. Gilinski resides in London. According to Forbes, he is the second richest person in Colombia, with a net worth of US$3.6 billion as of 2020.[1]

Early life

He is the son of Isaac Gilinski Sragowicz, a banker and himself the son of Lithuanian Jewish immigrants.

Gilinski earned his BS in Industrial Engineering from Georgia Tech in 1978, and an MBA from Harvard Business School in 1980.[1]

Banking

In the 1990s, Gilinski acquired the Colombian assets of BCCI (Bank of Credit and Commerce International) for a nominal sum after its global collapse. Renamed Banco Andino, it became one of the most efficient banks in the Colombian banking system within four years. The Gilinski Group sold the reconstituted bank for a reported $70 million.[2]

The family then moved to purchase Banco de Colombia for $365 million, in what was then the largest privatization in Colombia's history. A group of premier private equity investors led by Morgan Stanley Asset Management investing $65 million, billionaire George Soros investing $50 million and Tiger Asset Management with $35 million together with more than 100 other European and North American institutional investors co-invested with Gilinski. Later, the family sold control of the bank to Banco Industrial Colombiano, and its controlling stakeholder Sindicato Antioqueño, in a deal valued at $800 million, among Colombia's largest deals.[3] Gilinski received $418 million for its stake and retained a minority position in the new bank as part of the deal. As of 2018, Bancolombia was the largest in Colombia with a market capitalization of $11 billion on the NYSE.[4]

In 2003, Gilinski acquired and subsequently merged Banco Sudameris and Banco Tequendama. This merger created GNB Sudameris, a bank with assets of over US $10 billion that ranks among the largest private Colombian banks as of 2018. The purchase of Servibanca, an ATM network with over 2,600 machines, and Suma Valores, a stock exchange commission agent company, has further expanded the network.[4]

In May 2012, HSBC announced the sale of its Latin American operations (Colombia, Peru, Paraguay) to Banco GNB Sudameris for $400 million in cash.[citation needed]

In September 2013, Banco Sabadell announced that Gilinski became its largest shareholder as the anchor investor in a US $1.8 billion capital raise. Through the ABB and share rights issue, Gilinski's investment totals approximately $500 million. Banco Sabadell is the 5th largest bank in Spain, with over US $220 billion in assets and a 13% market share.[citation needed]

The Gilinski group also owns Yupi, a snack food company in Latin America, and exports to nine countries. Gilinski Group also owns Rimax Plastics, which was founded by his father Isaac Gilinski.[5]

In December 2019, Gilinski became the largest shareholder of Metro Bank, after upping his interest in the business to 6.1%.[6] In May 2020, he increased his stake to 9%. Gilinski holds his stake through British Virgin Islands-based Spaldy Investments.[7][8]

Real estate

In partnership with London & Regional Properties, Gilinski has developed the Panama Pacifico[9] business and residential development in Panama City, Panama. Jaime Gilinski and his partners Ian and Richard Livingstone beat 16 other international firms in a competition to develop the project. The project, based on the former Howard Air Force Base in Panama, includes 2,750 acres (11.1 km2) of land, which makes it one of the largest development projects in the world.[citation needed]

Philanthropy

In the 1990s, the Gilinskis contributed US$8 million to the Fundacion Santa Fe. This was during Jaime Gilinski's time as chairman of Banco de Colombia.[10] La Fundación Santa Fe de Bogotá supports Santa Fe Hospital in Bogotá. Founded in 1972, this hospital is recognized as Colombia’s most technologically advanced.[11]

Gilinski is the chair of Capital Projects for The Chabad House at Harvard University.[12] The Chabad House at Harvard is a Jewish student organization that provides educational, social, and recreational programming for students and faculty.[13] Through the Jaime and Raquel Gilinski Endowment, Gilinski supports the David Rockefeller Center for Latin American Studies at Harvard University.[14]

Personal life

He is married to Raquel Gilinski. They have four children and live in London, England.[1] He has further houses in New York, Panama, Miami and Colombia.[1]

Jaime and Raquel Gilinski have also established the Jaime and Raquel Gilinski Fellowship at Harvard Business School, awarded to MBA students from Colombia and Panama, with a secondary preference for students from other Latin American countries.[15]

References

  1. ^ a b c d e "Forbes profile: Jaime Gilinski Bacal". Forbes. Retrieved 15 May 2018.
  2. ^ "El regreso de los Gilinski". Semana.com. Retrieved 2009-07-13.
  3. ^ "Big Bank in Colombia Is Purchasing a Rival". New York Times. 1997-08-26. Retrieved 2009-06-05.
  4. ^ a b "Banking in Colombia". Retrieved 2009-07-13.
  5. ^ "El Sueno de crecer". Semana.com. Retrieved 2009-06-24.
  6. ^ Burton, Lucy (2019-12-09). "Colombian billionaire becomes biggest Metro investor after raising stake". The Telegraph. ISSN 0307-1235. Retrieved 2020-08-20.
  7. ^ "Colombian billionaire Jaime Gilinski beefs up Metro Bank stake". CityAM. 2020-05-10. Retrieved 2020-08-20.
  8. ^ Dunkley, Emma. "Colombian tycoon Jaime Gilinski ups Metro Bank stake". ISSN 0140-0460. Retrieved 2020-08-20.
  9. ^ "Construction commences in Howard". Canal 13 - Telemetro.com. Retrieved 2009-06-02.[permanent dead link]
  10. ^ "Benefactores". Fundacion Santa Fe de Bogota. Archived from the original on 2014-02-26. Retrieved 2009-07-28.
  11. ^ "Conozca la Historia de la Fundación Santa Fe de Bogotá". Fundacion Santa Fe de Bogota. Archived from the original on 2014-02-26. Retrieved 2013-03-09.
  12. ^ "Harvard Chabad Dedicates New Home". The Harvard Crimson. Retrieved 2016-02-08.
  13. ^ "Vision & Values". The Chabad House at Harvard. Retrieved 2016-02-08.
  14. ^ "Other Latinos Program". Harvard University. Retrieved 2009-06-02.
  15. ^ "Recent Fellowships List". Harvard Business School. Retrieved 2010-06-11.

External links

This page was last edited on 22 October 2020, at 20:44
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