Jaime Gilinski
Encyclopedia
Jaime Gilinski Bacal is a Colombian banker, real estate developer, and philanthropist
. Gilinski currently resides in London
, United Kingdom
.
from Georgia Tech in 1978, and an M.B.A. from Harvard Business School
in 1980.
’s Nicolás Landes for a reported US$70 million.
The family then moved to purchase Banco de Colombia for US $365 Million, in what was then the largest privatization in Colombia's history. Billionaire investor George Soros invested US$ 50 Million along with over 100 European and North American institutional investors. They later sold control of the bank to Banco Industrial Colombiano, and its controlling stakeholder Sindicato Antioqueño, in a deal valued at US$ 800 Million — a transaction that ranks among Colombia’s largest. Gilinski received US$ 418 Million for its stake and retained a minority position in the new bank as part of the deal. As of 2011, Bancolombia was the largest bank in Colombia with a market capitalization of US $13 Billion in the NYSE.
In 2003, Jaime Gilinski acquired and subsequently merged Banco Sudameris and Banco Tequendema. This merger created GNB Sudameris, a bank with assets of over US $6 billion that ranks among the top 10 largest banks in Colombia. The purchase of Servibanca, an ATM network with over 1,500 machines, and Suma Valores, a stock exchange commission agent company, has further expanded the network.
The Gilinski group also owns Yupi, a well-known snack food company in Latin America, and exports to nine countries. Yupi has a 30% market share in the Colombian snack food products segment, second only behind Frito Lay. Gilinski Group also owns Rimax Plastics, which was founded by Isaac Gilinski.
Jaime Gilinski serves as the Chairman for JGB Financial Holding Company, which owns JGB Bank, since 1994. JGB Bank is a South Florida-based financial institution
. Jaime Gilinski received good news in March 2009 when the Federal Reserve announced that they were releasing JGB National Holding Co. from a cease-and-desist order. This order, issued by regulators in March 2005, prevented JGB Bank from transferring its assets to any of Jaime Gilinski’s other holdings. JGB National Holding Co. was also required to improve internal controls and ensure compliance with the anti-money laundering
Bank Secrecy Act.
, Jaime Gilinski is developing the Panama Pacifico
business and residential development in Panama City
, Panama
. Jaime Gilinski and his partners Ian and Richard Livingstone bested 16 other international firms to develop the project. The US $700 million project, based on the former Howard Air Force Base in Panama, includes 2750 acres (11.1 km²) of land, which makes it one of the largest development projects in the world. Due to the site's proximity to the Panama Canal
and an unused air strip, Panama Pacifico
is an excellent location to build a hub for international trade, commerce, and industry.
Panama Pacifico
is expected to create 20,000 jobs. It is also projected to be worth around US $10 billion when finished, which is equivalent to more than half of Panama's gross national product.
Mr. Gilinski is the Chair of Capital Projects for The Chabad House at Harvard University. The Chabad House at Harvard is a Jewish student organization that provides educational, social, and recreational programming for students and faculty. Through the Jaime and Raquel Gilinski Endowment, Mr. Gilinski supports the David Rockefeller Center for Latin American Studies
at Harvard University
.
Jaime and Raquel Gilinski have also established the Jaime and Raquel Gilinski Fellowship at Harvard Business School
. Mr. Gilinski is an established investor with extensive experience across different sectors throughout Latin America and the United States. Mr. Gilinski has spent the majority of his career in Colombia working on business strategy for a number of companies. He currently has extensive holdings in the banking, real estate, and telecommunications sectors. Mr. and Mrs. Gilinski have been committed to providing opportunity to bright students from Latin America throughout their lives. This fund is to be awarded to deserving MBA students from Colombia and Panama, with a secondary preference for students from other Latin American countries including Chile, Ecuador, Peru, and Venezuela.
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
. Gilinski currently resides in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
Education
Jaime Gilinski earned his B.S. in Industrial EngineeringIndustrial engineering
Industrial engineering is a branch of engineering dealing with the optimization of complex processes or systems. It is concerned with the development, improvement, implementation and evaluation of integrated systems of people, money, knowledge, information, equipment, energy, materials, analysis...
from Georgia Tech in 1978, and an M.B.A. from Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
in 1980.
Banking
In the 1990s Gilinski acquired the Colombian assets of BCCI (Bank of Credit and Commerce International) for a nominal sum after its global collapse. Renamed Banco Andino,it became one of the most efficient banks in the Colombian banking system within 4 years. The Gilinski Group sold the reconstituted bank to EcuadorEcuador
Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...
’s Nicolás Landes for a reported US$70 million.
The family then moved to purchase Banco de Colombia for US $365 Million, in what was then the largest privatization in Colombia's history. Billionaire investor George Soros invested US$ 50 Million along with over 100 European and North American institutional investors. They later sold control of the bank to Banco Industrial Colombiano, and its controlling stakeholder Sindicato Antioqueño, in a deal valued at US$ 800 Million — a transaction that ranks among Colombia’s largest. Gilinski received US$ 418 Million for its stake and retained a minority position in the new bank as part of the deal. As of 2011, Bancolombia was the largest bank in Colombia with a market capitalization of US $13 Billion in the NYSE.
In 2003, Jaime Gilinski acquired and subsequently merged Banco Sudameris and Banco Tequendema. This merger created GNB Sudameris, a bank with assets of over US $6 billion that ranks among the top 10 largest banks in Colombia. The purchase of Servibanca, an ATM network with over 1,500 machines, and Suma Valores, a stock exchange commission agent company, has further expanded the network.
The Gilinski group also owns Yupi, a well-known snack food company in Latin America, and exports to nine countries. Yupi has a 30% market share in the Colombian snack food products segment, second only behind Frito Lay. Gilinski Group also owns Rimax Plastics, which was founded by Isaac Gilinski.
Jaime Gilinski serves as the Chairman for JGB Financial Holding Company, which owns JGB Bank, since 1994. JGB Bank is a South Florida-based financial institution
Financial institution
In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...
. Jaime Gilinski received good news in March 2009 when the Federal Reserve announced that they were releasing JGB National Holding Co. from a cease-and-desist order. This order, issued by regulators in March 2005, prevented JGB Bank from transferring its assets to any of Jaime Gilinski’s other holdings. JGB National Holding Co. was also required to improve internal controls and ensure compliance with the anti-money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
Bank Secrecy Act.
Real Estate
In partnership with London & Regional PropertiesLondon & Regional Properties
London & Regional Properties is a property company based in London, United Kingdom. It is one of the largest privately held property companies in Europe....
, Jaime Gilinski is developing the Panama Pacifico
Panama Pacifico
Panama Pacifico is a mixed-use real estate development in Panama. The project has been in development since 2007.London & Regional Properties and Colombian banker Jaime Gilinski are developing the Panama Pacifico business and residential development in Panama City, Panama...
business and residential development in Panama City
Panama City
Panama is the capital and largest city of the Republic of Panama. It has a population of 880,691, with a total metro population of 1,272,672, and it is located at the Pacific entrance of the Panama Canal, in the province of the same name. The city is the political and administrative center of the...
, Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
. Jaime Gilinski and his partners Ian and Richard Livingstone bested 16 other international firms to develop the project. The US $700 million project, based on the former Howard Air Force Base in Panama, includes 2750 acres (11.1 km²) of land, which makes it one of the largest development projects in the world. Due to the site's proximity to the Panama Canal
Panama Canal
The Panama Canal is a ship canal in Panama that joins the Atlantic Ocean and the Pacific Ocean and is a key conduit for international maritime trade. Built from 1904 to 1914, the canal has seen annual traffic rise from about 1,000 ships early on to 14,702 vessels measuring a total of 309.6...
and an unused air strip, Panama Pacifico
Panama Pacifico
Panama Pacifico is a mixed-use real estate development in Panama. The project has been in development since 2007.London & Regional Properties and Colombian banker Jaime Gilinski are developing the Panama Pacifico business and residential development in Panama City, Panama...
is an excellent location to build a hub for international trade, commerce, and industry.
Panama Pacifico
Panama Pacifico
Panama Pacifico is a mixed-use real estate development in Panama. The project has been in development since 2007.London & Regional Properties and Colombian banker Jaime Gilinski are developing the Panama Pacifico business and residential development in Panama City, Panama...
is expected to create 20,000 jobs. It is also projected to be worth around US $10 billion when finished, which is equivalent to more than half of Panama's gross national product.
Philanthropy
In the 1990s, the Gilinskis contributed US$ 8 million dollars to the Fundacion Santa Fe. This was during Jaime Gilinski’s time as chairman of Banco de Colombia.La Fundación Santa Fe de Bogotá supports Santa Fe Hospital in Bogotá. Founded in 1972, this hospital is recognized as Colombia’s most technologically-advanced.Mr. Gilinski is the Chair of Capital Projects for The Chabad House at Harvard University. The Chabad House at Harvard is a Jewish student organization that provides educational, social, and recreational programming for students and faculty. Through the Jaime and Raquel Gilinski Endowment, Mr. Gilinski supports the David Rockefeller Center for Latin American Studies
David Rockefeller Center for Latin American Studies
Founded in 1994, Harvard's David Rockefeller Center for Latin American Studies works to increase knowledge of the cultures, economies, histories, environment, and contemporary affairs of past and present Latin America. The Center's main office is located in Cambridge, Massachusetts at Harvard...
at Harvard University
Harvard 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...
.
Jaime and Raquel Gilinski have also established the Jaime and Raquel Gilinski Fellowship at Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
. Mr. Gilinski is an established investor with extensive experience across different sectors throughout Latin America and the United States. Mr. Gilinski has spent the majority of his career in Colombia working on business strategy for a number of companies. He currently has extensive holdings in the banking, real estate, and telecommunications sectors. Mr. and Mrs. Gilinski have been committed to providing opportunity to bright students from Latin America throughout their lives. This fund is to be awarded to deserving MBA students from Colombia and Panama, with a secondary preference for students from other Latin American countries including Chile, Ecuador, Peru, and Venezuela.