Augusto Felipe Wiese de Osma
Peru
Augusto Felipe Wiese de Osma
  • CEO, Grupo Wiese (Diversified)
Born Lima, Peru, 1924. Bachelors of Law, Universidad de San Marcos.
“[T]o build a partnership, first we choose renowned, sound groups, experienced players in their industries, so that they would bring their capital and experience here to improve our operations.”

Summary

Augusto Felipe Wiese de Osma, CEO of Grupo Wiese in Peru, shares his insights into the successful diversification of his business which now spans real estate, retail, shipping, financial services and logistics. After earning a BA in Law at the Universidad de San Marcos, he began full-time work for the group, which was founded by his father just before World War I. Because Peru’s domestic market was small at the time, he explains how the group gradually expanded into many sectors: hospitality, textile, steel, fishing, mining, chemicals, construction, banking, and much later, retail. In the interview, Wiese de Osma recounts the events that occurred after he replaced his father as CEO in the late 1970s; especially, a major recession in 1988, which forced the group to sell Banco Weise and turn its fishing operations over to the government. As he explains in the interview, in order to survive, the group largely focused on retaining a few, large-volume businesses. He also provides details about the group’s foundation which was established in 1960, which promotes healthcare and supports Peruvian culture and education.

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Augusto Felipe Wiese de Osma, CEO of Grupo Wiese in Peru, shares his insights into the successful diversification of his business which now spans real estate, retail, shipping, financial services and logistics. After earning a BA in Law at the Universidad de San Marcos, he began full-time work for the group, which was founded by his father just before World War I. Because Peru’s domestic market was small at the time, he explains how the group gradually expanded into many sectors: hospitality, textile, steel, fishing, mining, chemicals, construction, banking, and much later, retail. In the interview, Wiese de Osma recounts the events that occurred after he replaced his father as CEO in the late 1970s; especially, a major recession in 1988, which forced the group to sell Banco Weise and turn its fishing operations over to the government. As he explains in the interview, in order to survive, the group largely focused on retaining a few, large-volume businesses. He also provides details about the group’s foundation which was established in 1960, which promotes healthcare and supports Peruvian culture and education.
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Additional Resources

Additional Resources

  • Martin Monsalve Zanatti, “Evolution of the Peruvian large family business 1896-2012,” in Paloma Fernández Pérez and Andrea Lluch (eds.) Evolution of Family Business Continuity and Change in Latin America and Spain. Edward Elgar Publishing, 2016

Interview Citation Format

"Interview with Augusto Felipe Wiese de Osma, interviewed by Andrea Lluch, May 23, 2013, Creating Emerging Markets Project, Baker Library Historical Collections, Harvard Business School, http://www.hbs.edu/creating-emerging-markets/."