Erol Sabancı (born 1938) is a billionaire Turkish banker and a member of the

Sabancı family The Sabancı family is one of the wealthiest families in Turkey according to the Forbes billionaires list of 2016, with an estimated fortune ranging between $20–30 billion. The family's main business entity was founded by Hacı Ömer Sabancı in ...

. Sabancı is the honorary chairman of

Akbank Akbank T.A.Ş. is one of the largest banks in Turkey. Founded in 1948, , it had revenues of nearly TL 13.7 billion. Listed on the Borsa Istanbul, its largest shareholders are members of the Sabancı family. Akbank is a bank that offers vehicle ...

. He has been board member of Akbank since 1963, Turkey's most valuable and profitable bank.

Early life

Sabancı was born in Akçakaya village in central Turkey near the town of Kayseri in 1938, the fifth son of

Hacı Ömer Sabancı Hacı Ömer Sabancı (1 January 1906 – 2 February 1966) 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 initiate ...

, who laid the foundation of one of the greatest fortunes in the world, and Sadıka. Sabancı completed his secondary education at the Tarsus American College. In 1956, he went to England to study at Manchester College of Commerce. Sabancı returned to Turkey in 1958 and the following year joined the army for his two-year military service.

Career

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, he was elected a 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, Sabancı quit his other positions in

Sabancı Holding Hacı Ömer Sabancı Holding A.Ş., commonly abbreviated as Sabancı Holding, is an industrial and financial conglomerate with headquarters in Istanbul, Turkey. The company's primary activities are in financial services, energy (electricity generat ...

, 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, Sabancı held the position of chairman of the board from March 1998 to March 2008. Sabancı was elected honorary chairman and consultant to the board on March 28, 2008. Sabancı also serves as the vice chairman of the board of

Personal life

Sabancı is married to Belkıs and has two daughters, one of whom, Suzan Sabancı Dinçer, is chairman and executive board member of Akbank. Sabancı is a grandfather of four.

References

Biography at Sabancı Holding website

Biography at Akbank website
{{DEFAULTSORT:Sabanci, Erol Turkish bankers Turkish billionaires Alumni of Manchester Metropolitan University People from Kayseri Erol Sabanci 1938 births Living people