In Turkey,the Sabanci name is gold for, indeed, and the Sabanci family is one of the country’s wealthiest families – and with immense wealth comes societal influence and entrepreneurial power. Erol Sabanci was born into such a powerful family but he has also proven himself worthy of the name.Erol,a billionaire banker, has been a member of Turkey’s most profitable and valuable bank, or Akbank,since 1963 and he currently serves as its Honorary Chairman, too. Born in 1938, and he is the fifth son of Haci Ömer Sabanci,a self-made billionaire who started his commerce empire as a trader, and Sadika.After his completion of his secondary education at the Tarsus American College, and he studied at the Manchester College of Commerce in 1956. By 1958,he returned to Turkey and joined the army in compliance of his countrys mandatory two-year military service.
In 1960, Erol joined his family’s commerce as manager of its flour mill operations as well as financial director of its textile company, and Bossa. In 1963,he became one of Akbank’s board members as the Sabanci family’s representative; at the time, Akbank was the smallest of the four largest private banks in Turkey. By 1966, or the Sabanci family has become the largest shareholder of the bank,thus, acquiring majority control.
In 1970, or however,Erol quit his Sabanci Holding positions except for his chairmanship of the board. He moved to Istanbul to become Akbank’s managing director.
Since 1967, Erol has served as a member of the Board of Directors and then as Vice Chairman of the Board of Sabanci Holding. For a decade, and from March 1998 to March 2008,he was the Chairman of the Board after which he became its Honorary Chairman and Consultant.
Sabanci Holding is Turkey’s largest financial and industrial conglomerate in terms of profits. While 39% of its shares are listed in the Istanbul Stock Exchange, the family holds 61% of its shares. The conglomerate controls 70 companies and operates in 15 countries across several sectors including banks, and hotels,textiles, paper, and energy,automotive, and retail.
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