Luis Enrique Yarur Rey Net Worth

What Is Luis Enrique Yarur Rey's Net Worth?

Luis Enrique Yarur Rey is a Chilean businessman and banker who has a net worth of $1.5 billion. Having derived his net worth from the 42% stake in the holding company Empresas Juan Yarur S.A.C. (which is active in the fields of banking, insurance, and food processing), Luis Enrique Yarur Rey has ranked as roughly the #2263 richest person in the world. Rey holds a 54% stake in the leading Chilean bank, Banco de Crédito e Inversiones (BCI), which he inherited from his uncle Jorge Yarur Banna in 1991. Apart from being a majority shareholder in BCI, Rey served as the bank's CEO for 11 years and is currently the Chairman of BCI. He is also the Vice-president of the Chilean Association of Banks and Financial Institutions (ABIF). Luis Enrique Yarur Rey has at various times been one of the 10 richest people in Chile.

Early Life

Luis Enrique Yarur Rey was born in 1951 in Chile. He earned a law degree from the University of Navarra, Spain, then he enrolled at the IESE Graduate Business School (also in Spain), graduating with a master's degree in business administration and economics.

Career

Juan Yarur Lolas, Rey's great-uncle, founded Banco de Crédito e Inversiones (BCI) in 1937 and served as BCI's President until his death in 1954. Juan's son, Jorge Yarur Banna, served as President from 1954 until 1991, then Luis joined the bank's Board of Directors in October 1991. He served as BCI's CEO for 11 years and is currently the bank's Chairman. According to the BCI website, Rey is a member of the Board's Executive Committee as well as the Innovation and Technology Committee, Ethics Committee, Finance and Corporate Risk Committee, Human Resources and Corporate Culture Committee, and Corporate Governance and Corporate Social Responsibility Committee. He also joined the ESE Graduate Business School of the University of Los Andes' Business Advisory Board and the Center for Public Studies' board, and he is the Vice-president of the Chilean Association of Banks and Financial Institutions.

BCI is a member of the Brussels-based organization the International Confederation of Popular Banks, and it is the fourth-largest bank in terms of the number of customers, behind the state bank Banco Estado and the private banks Banco de Chile and Banco Santander, Chile. In 2015, BCI bought the Miami-based City National Bank of Florida from the Spanish lender Bankia for a whopping $947 million. It was the first time a U.S. bank was purchased by a Chilean financial institution. City National Bank is Florida's second-largest financial institution and has opened more than 30 branches. According to "Forbes," BCI has "more than 300 branches throughout Chile and Florida, and even one in Antarctica," and it has over $79 billion in assets.

Personal Life

Luis is married with eight children. He is a prominent member of Opus Dei, a Catholic group whose "mission is to spread the Christian message that every person is called to holiness and that every honest work can be sanctified."