Alvaro Saieh Net Worth is$3 Billion
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Profession: Banker
Alvaro Saieh Bendeck Net Worth: Alvaro Saieh Bendeck is a wealthy Chilean businessman of Palestinian ancestry who has a net worth of $3 billion. Since 1996, he has been acting as First Vice Chairman of the Board of Directors for Corpbanca S.A., one of Chile's largest private banking institutions. Also, he has been serving as CEO for the media conglomerate Copesa and President of Corp Group S.A. Holding a Ph.D. in Economics from the University of Chicago, he has started his involvement in the Chilean financial and real estate sector in his early youth. As Corpbanca's investor relations director, Claudia Labbe Montevecchi, stated Alvaro Saieh Bendeck has accumulated a fortune estimated at $2.6 billion, through his various stakes in retail, media, real estate and insurance companies; his retail unit, SMU, being only one of them. Apart from rising big in the world of business, he is also a husband and a father of five.
??lvaro Saieh Bendeck is a wealthy Chilean 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 (Associaci??n 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, ??lvaro 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.

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Alvaro Saieh Latest News

Itaú-CorpBanca merger plan draws fire from U.S. investor

The deal with Itaú, worth about $3.7 billion, undervalued the bank's shares and gave special benefits to Chilean billionaire Alvaro Saieh and his investment holding company Corp Group, hedge fund Cartica Management told the board of CorpBanca in a letter ...
Posted: March 3, 2014, 4:00 pm

Cartica sues CorpBanca, Saieh in U.S. over Itaú merger

SAO PAULO, April 1 (Reuters) - U.S. investment firm Cartica Management LLC filed a lawsuit in New York on Tuesday against Chilean bank CorpBanca SA, its controlling shareholder, Álvaro Saieh, and his investment holding company over a plan to merge with ...
Posted: April 1, 2014, 9:30 am

Rob Cox: Bolivarian bank dream faces Andean climb

Itaú would be the entity’s largest shareholder, with 33.6 percent. CorpGroup, the holding company of Alvaro Saieh, one of Chile’s richest men, was to retain a 33 percent stake. While the industrial vision made sense – smaller banks uniting to create ...
Posted: May 26, 2015, 10:27 am
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