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Some well-known Paisas (clockwise):
Ernesto Fajardo (Inversiones Mundial), Juan Luis Mejía (EAFIT), Ana Mercedes Gómez
(El Colombiano), Gonzalo Restrepo (Grupo Exito), María Inés Restrepo (Comfama),
Víctor Henríquez (Banacol), Beatriz Uribe (Mineros S.A.), Carlos Uribe (Capiro), Lina Vélez
(Medellin Chamber of Commerce), Luis Fernando Rico (Isagen)
Medellin’s entrepreneurs have a long tradition of getting things done, says David Bojanini, chairman of Grupo de Inversiones Suramericana..
Known as “Paisas”, this Antioquian culture may have a disputed ancestral history, but the reputation of its descendants is set in stone.
You can even see it in Plaza Botero, where sculptures by one of the city’s most famous artists, Fernando Botero, are displayed. Botero is known to have credited his “country and Paisa origin” for strength, spirit and the very essence of his artistic creation.
The ancestry is mixed, with evidence of a mosaic of Spanish cultures – Extremaduran, Andalusian, Basque, Catalonian and Sephardi Jew, though the latter is somewhat disputed, as is the origin of “Paisa”, which has been linked to the Spanish expression “Paisano” (countryman).
But there is no dispute about the qualities of this culture. It is an austere, tough business culture, says Carlos Enrique Piedrahita, chairman of Grupo Nutresa. “While we are surrounded by the mountains, we are perhaps the ones that are most open to the rest of the world - caring, innovative, resourceful, hardworking. That’s what you’ll come across among Antioquian management in particular.”
As a testament to this tradition, the first Paisas hauled giant machinery imported from Europe through valleys without road networks to establish a nascent textile industry.
More recent hurdles have included the aftermath of violent conflicts. Ana Mercedes Gómez, Editor of the “not neutral but independent” El Colombiano, explains that Paisas did not stop working or building companies throughout. “Antioquia set an example to the rest of the country. The business group at the time was able to ensure that illicit money from the mafia couldn’t enter the business sector.”
Entrepreneurial women continue to be trailblazers. Sixteen years ago, María Inés Restrepo, director of Comfama, was the first woman to take charge of the social enterprise.
“For me, this is neither a triumph nor a problem,” she says. “You will always get to where you are for your skills and abilities, and you have to show results.” Although acknowledging the importance of financial contributions, she notes the need for international cooperation based on “humility in pursuit of knowledge” as well.
And as the modern-day Paisas, some of whom are pictured above, promote investment to Antioquia, it is with both that sense of pride and humility. Beatriz Uribe, chairwoman of Mineros S.A., emphasises the strong workforce, good work ethic and levels of education in the region. “To those who come to invest and to those who come as tourists, we welcome them with open arms,” she says.
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New Chairman of Colombia’s largest bank aims to get closer to clients
Carlos Raúl Yepes, Grupo Bancolombia's boss, wants to change the perception of his country’s banking industry
One of Carlos Raúl Yepes' main concerns is to strengthen customers’ trust.
"The financial sector is seen as cold and distant," he says. "I want our relationship with the customer to be defined by four words – closeness, warmth, inclusion and respect."
Yepes also hopes to drive innovation into Colombian banking. "But innovation is not just about technology; we also have to innovate in products, channels and in every aspect of our business."
Bancolombia is by far the country's biggest bank. In 2010, revenues came to around £4.1 billion and the bank's assets stood at £2.7 billion.
With these strengths and its business knowledge, Bancolombia has already ventured into the Central American market. The profits of one of its acquisitions, El Salvador's Banco Agrícola, increased by 59% in 2010.
As he looks to the future, Yepes sees a group that has the resources, experience and business acumen required to grow both at home and abroad, while remaining close to its customers, wherever they are.
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