Erol Sabanci
Encyclopedia
Erol Sabancı a member of the renowned Sabancı family
in second generation, is a billionaire Turkish
banker.
and the doyen of Turkish bankers. He has been board member of Akbank since 1963, Turkey’s most valuable and profitable bank.
Erol Sabancı was born in Akçakaya village in central Turkey
near the town of Kayseri
in 1938, as the fifth son of Hacı Ömer Sabancı
, whom laid the foundation of one of the greatest fortunes in the world, and Sadıka.
Erol Sabancı completed his secondary education at the Tarsus American College. In 1956 he went to England
to study at the Manchester College of Commerce
. Erol Sabancı returned to Turkey
in 1958 and the following year joined the army for his two year military service. In 1960 he joined his elder brothers at the holding company as manager of the family flour mill and the financial director of the textile firm Bossa.
In 1963 was elected board member of Akbank as representative of the Sabancı shares. At that time Akbank, which was formed by a group of industrialists in 1948, had 63 branches and was the smallest of the four large private banks. In 1966 the Sabancıs acquired majority control of Akbank.
In 1970 Erol Sabancı quit his other positions in Sabancı Holding
, except his chair at the board, and moved to Istanbul
to become the managing director of Akbank. Four years later the headquarters of Sabancı Holding were moved to Istanbul.
Serving as a Member of the Board of Directors and the Vice Chairman of the Board since 1967, Erol Sabancı held the position of Chairman of the Board from March 1998 to March 2008. Erol Sabancı was elected Honorary Chairman and Consultant to the Board on March 28, 2008. Mr. Sabancı also serves as the Vice Chairman of the Board of Sabancı Holding
.
Erol Sabancı is married to Belkıs and has two daughters, one of whom, Suzan Sabancı Dinçer, is Chairman and Executive Board Member of Akbank. Erol Sabancı is a grandfather of four.
Sabanci family
The Sabancı family is a dynasty of Turkish businesspeople founded by Hacı Ömer Sabancı, a self-made wealthy trader. Some second and third generation members of the family control today Turkey’s largest and prestigious group of companies, established mostly by the efforts of his son Sakıp Sabancı...
in second generation, is a billionaire Turkish
Turkish people
Turkish people, also known as the "Turks" , are an ethnic group primarily living in Turkey and in the former lands of the Ottoman Empire where Turkish minorities had been established in Bulgaria, Cyprus, Bosnia and Herzegovina, Georgia, Greece, Kosovo, Macedonia, and Romania...
banker.
Biography
Erol Sabancı is the Honorary Chairman of AkbankAkbank
Akbank is Turkey-based bank and was founded in Adana, Turkey on January 1948, originally to provide financing for the cotton producers in the Çukurova region. Growing and developing over time, the Bank opened its first branch in Istanbul in the district of Sirkeci on July 14, 1950, moving its...
and the doyen of Turkish bankers. He has been board member of Akbank since 1963, Turkey’s most valuable and profitable bank.
Erol Sabancı was born in Akçakaya village in central Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
near the town of Kayseri
Kayseri
Kayseri is a large and industrialized city in Central Anatolia, Turkey. It is the seat of Kayseri Province. The city of Kayseri, as defined by the boundaries of Kayseri Metropolitan Municipality, is structurally composed of five metropolitan districts, the two core districts of Kocasinan and...
in 1938, as the fifth son of Hacı Ömer Sabancı
Haci Ömer Sabanci
Hacı Ömer Sabancı was a Turkish entrepreneur, who founded a number of companies, which later formed the second largest industrial and financial conglomerate of Turkey, the Sabancı Holding. He initiated the establishment of a dynasty of Turkey's wealthiest businesspeople.He was born in Akçakaya, a...
, whom laid the foundation of one of the greatest fortunes in the world, and Sadıka.
Erol Sabancı completed his secondary education at the Tarsus American College. In 1956 he went to England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
to study at the Manchester College of Commerce
Harris Manchester College, Oxford
Harris Manchester College is one of the constituent colleges of the University of Oxford in the United Kingdom. Formerly known as Manchester College, it is listed in the University Statutes as Manchester Academy and Harris College, and at University ceremonies it is called Collegium de Harris et...
. Erol Sabancı returned to Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
in 1958 and the following year joined the army for his two year military service. In 1960 he joined his elder brothers at the holding company as manager of the family flour mill and the financial director of the textile firm Bossa.
In 1963 was elected board member of Akbank as representative of the Sabancı shares. At that time Akbank, which was formed by a group of industrialists in 1948, had 63 branches and was the smallest of the four large private banks. In 1966 the Sabancıs acquired majority control of Akbank.
In 1970 Erol Sabancı quit his other positions in Sabancı Holding
Sabanci Holding
Hacı Ömer Sabancı Holding A.Ş., abbreviated as Sabancı Holding, is the largest industrial and financial conglomerate in Turkey by profit. The holding is owned at about 75% by the Sabancı family, one of Turkey's wealthiest. 3% is owned by the Sabancı University and the Sabancı Foundation. The...
, except his chair at the board, and moved to Istanbul
Istanbul
Istanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...
to become the managing director of Akbank. Four years later the headquarters of Sabancı Holding were moved to Istanbul.
Serving as a Member of the Board of Directors and the Vice Chairman of the Board since 1967, Erol Sabancı held the position of Chairman of the Board from March 1998 to March 2008. Erol Sabancı was elected Honorary Chairman and Consultant to the Board on March 28, 2008. Mr. Sabancı also serves as the Vice Chairman of the Board of Sabancı Holding
Sabanci Holding
Hacı Ömer Sabancı Holding A.Ş., abbreviated as Sabancı Holding, is the largest industrial and financial conglomerate in Turkey by profit. The holding is owned at about 75% by the Sabancı family, one of Turkey's wealthiest. 3% is owned by the Sabancı University and the Sabancı Foundation. The...
.
Erol Sabancı is married to Belkıs and has two daughters, one of whom, Suzan Sabancı Dinçer, is Chairman and Executive Board Member of Akbank. Erol Sabancı is a grandfather of four.