Third Generation And Going Strong
Given the fact that a family is a small pool to pick good talented managers some family owned companies end up with future generations who aren’t good at managing the business. The remedy is to hire outside talent and professional managers to keep the business going and even expand it further. Some families have the good fortune of having future generation members that also have good business acumen.
This can be said of Suzan Sabanci Dincer. She is a third generation member of the wealthy Sabanci family of Turkey. Born in 1965, in Istanbul, Suzan has an international view of business. She earned a B.A. degree in Finance and International Marketing from Richmond, The American International University in London, England. Suzan attended Boston University in the U.S. to earn her MBA degree.
She has been the chairperson and executive board member of Akbank since March 28, 2008. This position wasn’t given to her on a silver platter. Suzan rose through the ranks. In 1989 she was appointed division head of Akbank’s Treasury Department. Suzan was then promoted to Executive Vice President in charge of Treasury in 1994. Bigger responsibilities came in 1997 when she was elected to the Board of Directors as the Managing Director responsible for Asset Liability Management and Correspondent Relations. In 2000 Suzan held the position as the Executive Board Member responsible for all matter of Akbank.
Akbank is a publicly traded company with 41.1 percent of its shares listed in the Istanbul Stock Exchange. It trades in the U.S. as an American Depository Receipt. The firm has international operations. In Turkey it has 962 branches and more than 16,000 employees. In the first nine months of 2012 the bank reported consolidated net profit of US$1.068 billion with total consolidated assets of around US$ 88 billion.
Outside of banking Suzan is active in a number of organizations. Among them the National Bank of Kuwait’s International Advisory Board, Blackstone’s International Advisory Board, and the Chairman of the Turkish-British Council of Foreign Economic Relations Board of Turkey. She is also the Honorary Consul of Luxembourg. Suzan was awarded the title of “Commander of the Most Excellent Order of the British Empire (CBE) by Queen Elizabeth II in 2012.
In her personal life Suzan is married to Haluck Dincer and has two children. This third generation Sabanci family member is truly worth her salt.