Ferit Sahenk
Encyclopedia
Ferit Şahenk is Chairman of Turkey
's Doğuş Holding
conglomerate and one of the country's wealthiest individuals, with a personal fortune estimated at USD$ 2.0 billion.
(TASIS) and earned his Bachelors from Boston College
, Boston, Massachusetts, U.S.
with a degree in Marketing
and Human Resources
in 1989. After graduation, Şahenk returned to Istanbul, where his father, Ayhan Şahenk (1929–2001), sent him to apprentice at Dogus' Garanti Bank
. After eight years he moved to the holding company,and beginning in 1998, he has acquired two food retail chains and operated NTV
by funding the expansion by selling part of the group's Garanti Bank to the public.
Understanding that top talent is essential to running a diverse group, he also created a recruitment division, Humanitas. Revenues for 1999 at privately held Dogus Group hit $5.7 billion. In May 2000, he instituted centralized back-office operations for Dogus' multiple banks and is doing the same for its auto dealerships. To its banking business, Şahenk added leasing, insurance and credit card cash-back schemes like those of Discover Card in the United States - financial services still uncommon in Turkey at the time.
, Cambridge, Massachusetts
, USA. At the age of 37, Şahenk took over his father's Doğuş Holding after Ayhan Şahenk died of a heart attack during April of 2001.
The net worth of the Şahenk conglomerate is around USD$ 2.5 billion, with a turnover for 2005 of USD$6 billion, employing about 18,000 people. He relinquished some control of the Garanti Bank
, selling a quarter of the country's third largest bank to General Electric
for $1.6 billion in 2004, which was regarded as an important step towards greater liberalization
in the Turkish banking sector, which had been severely affected by the 2001 economic crisis. He also runs Turkish media properties capturing more than 10 percent of country's advertising market. Bankrolled Gallipoli, a movie about the seminal Turkish military battle against the Allied offensive. On January 28, 2006 Şahenk threw a reception during the World Economic Forum
meeting in Davos, Switzerland, which was attended by Recep Tayyip Erdoğan
, prime minister
of Turkey.
In May 2006, Şahenk was elected Chairman of the Executive Board of the Turkish-U.S. Business Council, a Turkish business group that promotes trade and business relationships between the two countries.
He is married to an American woman Diana and they have a daughter named Defne. Also his cousin Melis Şahenk is a famous designer who won various competitions in Madrid
and studying in Universidad Complutense de Madrid
He is a Fenerbahçe SK
fan.
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
's Doğuş Holding
Dogus Holding
Doğuş Holding A.Ş. is one of the top three largest private-sector conglomerates in Turkey, with a portfolio of 25 companies that cross industry verticals, including one of Turkey's largest banks, Garanti Bank, as well as high-end Porsche, Audi, and Volkswagen dealerships, retail and food stores,...
conglomerate and one of the country's wealthiest individuals, with a personal fortune estimated at USD$ 2.0 billion.
Background
Şahenk graduated from The American School in SwitzerlandThe American School In Switzerland
The American School In Switzerland is a private school that receives elementary, middle, and high school students from many different nations and provides them with a Western-based education. Located in Montagnola, a small town above Lugano, Ticino, Switzerland, it has a current student body of...
(TASIS) and earned his Bachelors from Boston College
Boston College
Boston College is a private Jesuit research university located in the village of Chestnut Hill, Massachusetts, USA. The main campus is bisected by the border between the cities of Boston and Newton. It has 9,200 full-time undergraduates and 4,000 graduate students. Its name reflects its early...
, Boston, Massachusetts, U.S.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
with a degree in Marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
and Human Resources
Human resources
Human resources is a term used to describe the individuals who make up the workforce of an organization, although it is also applied in labor economics to, for example, business sectors or even whole nations...
in 1989. After graduation, Şahenk returned to Istanbul, where his father, Ayhan Şahenk (1929–2001), sent him to apprentice at Dogus' Garanti Bank
Garanti Bank
Garanti Bank is the second largest-private bank in Turkey with US$90 billion in assets as of December 31, 2010. On November 2nd, 2010 BBVA , Spain's second largest bank, acquired 24.9% stake in Garanti Bank for $5.8 billion. Garanti provides retail, commercial, corporate and private banking...
. After eight years he moved to the holding company,and beginning in 1998, he has acquired two food retail chains and operated NTV
NTV Turkey
NTV is a Turkish nationwide television news channel. NTV was founded in 1996 by Turkish businessman Cavit Çağlar as the first news channel of Turkey and has partnered with MSNBC since May 2000. Aired on this channel is usually the news but also provides football games, especially La Liga matches,...
by funding the expansion by selling part of the group's Garanti Bank to the public.
Understanding that top talent is essential to running a diverse group, he also created a recruitment division, Humanitas. Revenues for 1999 at privately held Dogus Group hit $5.7 billion. In May 2000, he instituted centralized back-office operations for Dogus' multiple banks and is doing the same for its auto dealerships. To its banking business, Şahenk added leasing, insurance and credit card cash-back schemes like those of Discover Card in the United States - financial services still uncommon in Turkey at the time.
The new head of Doğuş Holdings
He attended the Owner/President Management Program at Harvard UniversityHarvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
, Cambridge, Massachusetts
Cambridge, Massachusetts
Cambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
, USA. At the age of 37, Şahenk took over his father's Doğuş Holding after Ayhan Şahenk died of a heart attack during April of 2001.
The net worth of the Şahenk conglomerate is around USD$ 2.5 billion, with a turnover for 2005 of USD$6 billion, employing about 18,000 people. He relinquished some control of the Garanti Bank
Garanti Bank
Garanti Bank is the second largest-private bank in Turkey with US$90 billion in assets as of December 31, 2010. On November 2nd, 2010 BBVA , Spain's second largest bank, acquired 24.9% stake in Garanti Bank for $5.8 billion. Garanti provides retail, commercial, corporate and private banking...
, selling a quarter of the country's third largest bank to General Electric
General Electric
General Electric Company , or GE, is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States...
for $1.6 billion in 2004, which was regarded as an important step towards greater liberalization
Liberalization
In general, liberalization refers to a relaxation of previous government restrictions, usually in areas of social or economic policy. In some contexts this process or concept is often, but not always, referred to as deregulation...
in the Turkish banking sector, which had been severely affected by the 2001 economic crisis. He also runs Turkish media properties capturing more than 10 percent of country's advertising market. Bankrolled Gallipoli, a movie about the seminal Turkish military battle against the Allied offensive. On January 28, 2006 Şahenk threw a reception during the World Economic Forum
World Economic Forum
The World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
meeting in Davos, Switzerland, which was attended by Recep Tayyip Erdoğan
Recep Tayyip Erdogan
Recep Tayyip Erdoğan has been Prime Minister of Turkey since 2003 and is chairman of the ruling Justice and Development Party , which holds a majority of the seats in the Grand National Assembly of Turkey. Erdoğan served as Mayor of Istanbul from 1994 to 1998. He graduated in 1981 from Marmara...
, prime minister
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
of Turkey.
In May 2006, Şahenk was elected Chairman of the Executive Board of the Turkish-U.S. Business Council, a Turkish business group that promotes trade and business relationships between the two countries.
He is married to an American woman Diana and they have a daughter named Defne. Also his cousin Melis Şahenk is a famous designer who won various competitions in Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
and studying in Universidad Complutense de Madrid
He is a Fenerbahçe SK
Fenerbahçe SK
Fenerbahçe Spor Kulübü is a professional sports club based in Kadıköy, Istanbul, Turkey. The club derives its name from the Fenerbahçe neighbourhood of Istanbul. Fenerbahçe is one of the biggest and the best supported clubs in Turkey. They are nicknamed Sarı Kanaryalar )...
fan.