Spiro Latsis & family – Diversified Business

Spiro Latsis is a Greek businessman and one of the world's richest people, in 2006 ranked 51st by Forbes on the World's Billionaires list at US$9.1 billion[1]. He is the son of the Greek shipping magnate, John Latsis, who died in 2003.

The family's largest holding is its EFG Bank Group, a large banking conglomerate with private banking operations in many jurisdictions. The group's subsidiaries include the publicly traded EFG Eurobank-Ergasias (listed on the Athens Stock Exchange) and EFG International (listed on the Zurich Stock Exchange), the latter having some years back merged with the Sandoz family's Banque Edouard Constant. Sold its oil refining concern for a stake in Hellenic Petroleum S.A., a large Greek oil refining and distribution outfit that was created out of a corporate reorganisation in 1998 of the former Greek government-owned Public Petroleum Corporation S.A. He has benefited substantially from the Greek government's privatisation measures.

Spiro graduated with a PhD from the London School of Economics, an education that many regard as instrumental to his financial success, although his inheritance from his father is the primary source.

Latsis family fortune which is managed by Spyro, includes more than 40% in EFG Eurobank Ergasias, the Greek arm of his Swiss EFG Group and more than 30% in Hellenic Petroleum, the major petroleum player in the Balkans, through his ownership of Paneuropean Oil and Industrial Holdings S.A. Latsis group also controls PrivatAir, a large private jet owner and operator and Lamda Development, a major real estate group based in Athens. Lamda Development projects include "The Mall" complex in Athens, which opened in 2005.

He is a longstanding friend of the President of the European Commission, José Manuel Durão Barroso, whom he invited on a trip on his luxury yacht. His shipping business was accused of enjoying a lucrative contract with the European Commission.

Spiro Latsis lives in Geneva.

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