Álvaro Saieh
Encyclopedia
Álvaro Saieh Bendeck is a wealthy Chile
an businessman of Palestinian
ancestry. Since June 18, 1996, he has been First Vice Chairman of the Board of Directors
for one of Chile's largest private banking institutions, Corpbanca
S.A. He is also the acting Chief Executive Officer
for the media
conglomerate
Copesa
and President of Corp Group S.A.
Mr. Saieh has been involved in a number of different financial activities in the development of the Chilean financial and real estate
sector. He delivered an outstanding performance while in charge of the former Banco Osorno, prior to it being sold to Banco Santander. In another area of the Chilean financial industry, Saieh managed the pension fund
(Associaciòn de Fondos de Pensiones) AFP Provida
for six years before selling his 40% equity stake to BBVA Group in 1999.
He is also the Owner of the Grand Hyatt Santiago, The Four Seasons Buenos Aires and the Four Seasons Carmelo.
His most recent adventure, is the entrance to Retail activities. He bought Unimarc in December 2007, having a 1% of market share, now Unimarc has a 20% market share one year later. Unimarc is considered the 3rd Retail Chain in Chile, and has an investment plan of MM US$300 for the next 3 years.
In addition, Saieh is a director of the Santiago Stock Exchange
and adviser to Sociedad de Fomento Fabril and member of the International Institute of Finance. He is a commercial engineer
and graduate from Universidad de Chile. In April 2006, Álvaro Saieh was bestowed the title of Professor Emeritus at the University of Chile before an audience of academics, business leaders, diplomats and congress members. The Faculty Council unanimously voted to honor Saieh in appreciation of his 35 years of commitment to the University. He obtained a Ph.D.
in Economics
from the University of Chicago
.
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
an businessman of Palestinian
Palestinian people
The Palestinian people, also referred to as Palestinians or Palestinian Arabs , are an Arabic-speaking people with origins in Palestine. Despite various wars and exoduses, roughly one third of the world's Palestinian population continues to reside in the area encompassing the West Bank, the Gaza...
ancestry. Since June 18, 1996, he has been First Vice Chairman of the Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
for one of Chile's largest private banking institutions, Corpbanca
Corpbanca
Corpbanca is a sociedad anónima licensed by the Chilean Superintendency of Banks to operate as a commercial bank.-History:...
S.A. He is also the acting Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
for the media
Mass media
Mass media refers collectively to all media technologies which are intended to reach a large audience via mass communication. Broadcast media transmit their information electronically and comprise of television, film and radio, movies, CDs, DVDs and some other gadgets like cameras or video consoles...
conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
Copesa
Copesa
Copesa is one of the more important Chilean media conglomerate. Copesa is controlled by Álvaro Saieh, a Chilean business man.-Overview:...
and President of Corp Group S.A.
Mr. Saieh has been involved in a number of different financial activities in the development of the Chilean financial and real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
sector. He delivered an outstanding performance while in charge of the former Banco Osorno, prior to it being sold to Banco Santander. In another area of the Chilean financial industry, Saieh managed the pension fund
Pension fund
A pension fund is any plan, fund, or scheme which provides retirement income.Pension funds are important shareholders of listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold...
(Associaciòn de Fondos de Pensiones) AFP Provida
Administradora de Fondos de Pensiones-Provida
Administradora de Fondos de Pensiones-Provida S.A. is a private pension fund administrator operating in Chile.-Services:The Company provides services that include the collection of affiliate contributions, the management of individual capitalization accounts, the investment of affiliate...
for six years before selling his 40% equity stake to BBVA Group in 1999.
He is also the Owner of the Grand Hyatt Santiago, The Four Seasons Buenos Aires and the Four Seasons Carmelo.
His most recent adventure, is the entrance to Retail activities. He bought Unimarc in December 2007, having a 1% of market share, now Unimarc has a 20% market share one year later. Unimarc is considered the 3rd Retail Chain in Chile, and has an investment plan of MM US$300 for the next 3 years.
In addition, Saieh is a director of the Santiago Stock Exchange
Santiago Stock Exchange
The Santiago Stock Exchange , founded on November 27, 1893, is Chile's dominant stock exchange.-Operations and Indices:The exchange trades in stocks, bonds, investment funds, stock options, futures, gold and silver coins minted by the Banco Central de Chile, and US dollars on Telepregon, its...
and adviser to Sociedad de Fomento Fabril and member of the International Institute of Finance. He is a commercial engineer
Engineer
An engineer is a professional practitioner of engineering, concerned with applying scientific knowledge, mathematics and ingenuity to develop solutions for technical problems. Engineers design materials, structures, machines and systems while considering the limitations imposed by practicality,...
and graduate from Universidad de Chile. In April 2006, Álvaro Saieh was bestowed the title of Professor Emeritus at the University of Chile before an audience of academics, business leaders, diplomats and congress members. The Faculty Council unanimously voted to honor Saieh in appreciation of his 35 years of commitment to the University. He obtained a Ph.D.
Ph.D.
A Ph.D. is a Doctor of Philosophy, an academic degree.Ph.D. may also refer to:* Ph.D. , a 1980s British group*Piled Higher and Deeper, a web comic strip*PhD: Phantasy Degree, a Korean comic series* PhD Docbook renderer, an XML renderer...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
.