Andrónico Luksic Craig
Chile
Andrónico Luksic Craig
  • Vice Chair, Banco de Chile and Quiñenco S.A. (Banking; Mining)
Born Santiago, Chile, 1954. BA, Babson College (1976).
“[My father] taught us an open company implies more people controlling the business. This helps avoid the Napoleon syndrome … if you believe yourself to be the owner of the world, you are prone to make awful mistakes.”

Summary

Andrónico Luksic Craig discusses his family’s business ventures in Chile and throughout Latin America. Joining the business founded by his father in the early 1950s, Luksic describes his progression through multiple sectors as his career progressed. The interview explores how during the 1980s he championed globalization, which led to the group’s expansion into China and Croatia, where the first hotel group opened. He also emphasizes the varied and successful diversification of the group, including its notable entry into the food industry. The family shared responsibilities for different sectors, and Luksic explains how he led diversification into finance, becoming the President of the largest bank in Chile until its Spanish partner abruptly shifted strategy and left him jobless. Luksic describes how his group then re-entered the financial sector in 2002, merging two banks to become the second largest bank in the country.

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Andrónico Luksic Craig discusses his family’s business ventures in Chile and throughout Latin America. Joining the business founded by his father in the early 1950s, Luksic describes his progression through multiple sectors as his career progressed. The interview explores how during the 1980s he championed globalization, which led to the group’s expansion into China and Croatia, where the first hotel group opened. He also emphasizes the varied and successful diversification of the group, including its notable entry into the food industry. The family shared responsibilities for different sectors, and Luksic explains how he led diversification into finance, becoming the President of the largest bank in Chile until its Spanish partner abruptly shifted strategy and left him jobless. Luksic describes how his group then re-entered the financial sector in 2002, merging two banks to become the second largest bank in the country.

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Interview Citation Format

"Interview with Andrónico Luksic Craig, interviewed by Andrea Lluch, Santiago, Chile, September 3, 2008, Creating Emerging Markets Project, Baker Library Historical Collections, Harvard Business School, http://www.hbs.edu/creating-emerging-markets/."