Jaime Gilinski

In 2003, he acquired and merged Banco Tequendema and Banco Sudameris, and created GNB Sudameris. Soon, it became one of the top 10 banks of Colombia. Jaime further expanded his network by buying Servibanca and Suma Valores. Servibanca is a 2000 machine ATM network, and Suma Valores is a commission agent company for stock exchange.

Education

Jaime Gilinski Bacal, a prominent Colombian banker and real estate developer, has a distinguished educational background that laid the foundation for his successful career. Gilinski earned a Bachelor of Science in Industrial Engineering from the Georgia Institute of Technology (Georgia Tech) in 1978. This program equipped him with a solid foundation in engineering principles and analytical skills, essential for his future endeavors in banking and investments.

In 1980, he completed a Master of Business Administration (MBA) at Harvard Business School. This prestigious program provided him with advanced knowledge in business management, finance, and strategic planning, further preparing him for leadership roles in the financial sector.

These academic achievements have been instrumental in Gilinski's ability to navigate complex financial landscapes and execute significant business transactions throughout his career.

Real Estate Empire

Gilinski is a partner at London and Regional Properties, and is presently working on Panama Pacifico residential and commercial development in the city of Panama. This is one of the biggest property development projects across the globe. The project is expected to employ 20,000 people, and will be worth around $10 billion when completed.

Banking and Investments

Early Career and Initial Acquisitions: In the early 1990s, Gilinski acquired the Colombian assets of the defunct Bank of Credit and Commerce International (BCCI) for a nominal sum. He rebranded it as Banco Andino and, within four years, transformed it into one of Colombia's most efficient banks. This turnaround led to its sale for a reported $70 million.

Banco de Colombia Acquisition: In 1994, Gilinski led a consortium to purchase Banco de Colombia for $365 million, marking the largest privatization in Colombia's history at that time. The investment group included notable investors such as Morgan Stanley Asset Management, George Soros, and Tiger Asset Management. Under his leadership, the bank's performance improved significantly. Later, the family sold control of the bank to Banco Industrial Colombiano in a deal valued at $800 million, with Gilinski receiving $418 million for his stake and retaining a minority position.

Formation of GNB Sudameris: In 2003, Gilinski acquired and merged Banco Sudameris and Banco Tequendama, creating GNB Sudameris. This entity grew to hold assets exceeding $16 billion, ranking among Colombia's largest private banks. The expansion included the purchase of Servibanca, an ATM network with over 2,600 machines, and Suma Valores, a stock exchange commission agent company.

International Investments: In 2013, Gilinski became the largest shareholder of Spain's Banco Sabadell by investing approximately $500 million during a capital raise. Banco Sabadell is Spain's fifth-largest bank, with assets over $220 billion.

In December 2019, he increased his stake in the UK's Metro Bank to 6.1%, later rising to 9% in May 2020. By October 2023, Gilinski became the controlling shareholder of Metro Bank with around a 53% stake.

Grupo Nutresa and Grupo Sura Acquisitions: In November 2021, Gilinski, in partnership with Abu Dhabi's Royal Group, launched a takeover bid for Grupo Nutresa, one of Latin America's largest food processing companies. Shortly after, he initiated a public tender offer to acquire up to 31.5% of Grupo Sura, a major financial conglomerate. After multiple tender offers and negotiations, Gilinski and his partners secured at least 87% ownership in Grupo Nutresa by April 2024.

Real Estate Ventures: Beyond banking, Gilinski has invested in real estate, notably developing the Panama Pacifico project in partnership with London & Regional Properties. This development, based on the former Howard Air Force Base near Panama City, spans 2,750 acres, making it one of the world's largest development projects.

Philanthropy: Gilinski is also known for his philanthropic efforts, including significant contributions to healthcare and education institutions in Colombia and abroad.

A Notable Philanthropist

In 1990s, when he was the chairman for Banco de Colombia, Jaime contributed US$ 8 million to Fundacion Santa Fe. He also provides support to the Santa Fe Hospital, Bogot, which was founded in the year 1972, and is today one of the most technologically advanced hospitals in Colombia. He is also the chairperson of Capital Projects for Chabad House at Harvard University.

It is an organization for Jewish students, providing social, recreational and educational programs to both students and the faculty.Jaime & Raquel Gilinski supports David Rockefeller Center, Latin American Studies, and Harvard University.

He also built the Jaime & Raquel Gilinski Fellowship, Harvard Business School, which is awarded to promising MBA students in Panama and Colombia. Secondary preference is given to students from Chile, Peru, Venezuela, Ecuador and other Latin American countries.

Personal Life

In his personal life, Jaime is married to Raquel Gilinski. Together, they have four children. The family primarily resides in London, England, and maintains additional residences in New York, Panama, Miami, and Colombia.

Beyond his professional endeavors, Jaime is actively involved in philanthropy. In the 1990s, he and his family contributed $8 million to the Fundación Santa Fe de Bogotá, supporting the Santa Fe Hospital, recognized as one of Colombia's most technologically advanced medical facilities. He also serves as the chair of Capital Projects for The Chabad House at Harvard University, a Jewish student organization providing educational and social programming.

Through the Jaime and Raquel Gilinski Endowment, they support the David Rockefeller Center for Latin American Studies at Harvard University. Additionally, they 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.

In 2022, the Mount Sinai Health System received a multimillion-dollar commitment from Raquel and Jaime Gilinski for the Department of Obstetrics, Gynecology, and Reproductive Science at The Mount Sinai Hospital. This gift established the Raquel and Jaime Gilinski Department of Obstetrics, Gynecology, and Reproductive Science at Mount Sinai, supporting capital projects and renovations to elevate care and services in women's health.Jaime's personal and professional life reflects a commitment to family, education, and philanthropy, with significant contributions to healthcare and academic institutions.

Jaime Gilinski Bacal Business Interview