Alvaro Saieh Bendeck is a Chilean businessman of Palestinian ancestry. Since 1996 he is the Vice Chairman of the Board of Directors for one of Chile’s largest private banking institutions, Corpbanca, which he built starting with buying Banco Concepcion in 1995. Starting in 2011 Corpbanca aggressively entered Colombia with the purchases of Santander and later Helm Bank. Recently in 2015 Corpbanca approved a merged with Banco Itaú which purchased a 33% stake. He is also the CEO for the Chilean media conglomerate Copesa and serves as the president of SMU, a Chilean supermarket chain of which he is also a major shareholder. In 2013, Saieh invested US $300 million in the company which has been struggling in recent years due to integration problems after more than 70 acquisitions.