Net Worth of Juan Carlos Escotet Is
As of 2013, Juan Carlos Escotet’s net worth was $3.6 billion. Juan Carlos Escotet has risen to the position of Banesco’s Chair despite the challenging business climate in Venezuela. Banesco was created in 1992 and now has branches in Panama, the Dominican Republic, Puerto Rico, Colombia, and the United States, making it one of the major banks in South America.
Escotet was the eighth of eight children born in Madrid to a Spanish immigrant family in 1959. In 1976, he started working for a Venezuelan bank, doing errands. At Banco Union, he worked full-time and went to night school.
Escotet worked as an executive with Sociedad Financiera Latinoamericana after graduating from college, and he was working toward starting his own financial business. In the 1990s, Escotet amassed a sizable sum of money to buy out struggling Venezuelan financial organizations and build his own business in Panama. Banco Union was acquired by Escotet in 2000, becoming Banesco the new parent firm. At least six of his other locations are located in the United States: Miami; Panama; Colombia; Curaçao; Puerto Rico; and Panama. As of 2015, NCG Banco, the current Abanca in Spain, was owned by him.
At the University of Miami School of Business, he got a master’s degree in professional management sciences.
Career In the Service Industry
- CEO and Chairman of Banesco Group International Financial Services. He began his work with Banco Unión in 1976. (Venezuela). It all began in 1986 when he started Escotet Casa de Bolsa, which in 1991 grew to become Banesco.
- The growth of Banesco International began in 1992 when Banesco Internacional Panamá and Banesco Internacional Corp. were established (Puerto Rico). Seven nations are represented by the company: Venezuela, Panama, the United States, the Dominican Republic, Puerto Rico, Colombia, and Spain.
- Currently, he serves as a board member and the Chairman of the Board of Directors of Banesco Banco Universal and Banesco Holding, S.A., as well as a board member of Banesco Holding Latinoamérica, S.A. In addition, he advises VISA International’s Latin American and Caribbean Advisory Council and was on the board of Banco Etcheverra (Spain) from December 2012 until it was acquired by NCG Banco, S.A. in March of the following year. When NCB Banco S.A. (now ABANCA Corporation Bancaria S.A.) named him to the board of directors in June 2014, he became the company’s deputy chairman.
- Mr. ABANCA Corporación Bancaria, S.A.’s Board of Directors named him as Chairman of the Board in July 2017.
- As a member of the Confederación Espanola de Cajas de Ahorro, he serves on the board of directors (CECA).
Escotet is a father of four who resides in A Corua, Spain, with his wife and four children.
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