Trust, Adaptability, Rigor and Solidarity

Latin America and the Caribbean Trust, Adaptability, Rigor and Solidarity An Interview with Diego de Sola, Chief Executive Ofﬁ cer, De Sola Group, Co-Founder and Board Member, Glasswing International, Fellow and Moderator, Aspen Institute, and 2012 Young Global Leader, World Economic Forum

EDITORS’ NOTE Diego de Sola was conglomerate spanning industries and look to those who preceded us as examples of born in El Salvador and is commit- countries in the region. integrity through good times and bad. I see our ted to making a positive impact on the The late ’70s and early ’80s were fi rst responsibility as being respectful custodians region through his business and non- particularly challenging for El Salvador. of this trust, promising what we can deliver and profi t endeavors. He is currently CEO The Civil War, security threats and kid- then delivering on our promises. of the De Sola Group, a regional fam- napping resulted in a mass diaspora. Adaptability: From its very inception, the ily enterprise with 125 years working At the same time, the Agrarian Reform Group was founded by an immigrant in search and serving in Central America. The dealt a heavy blow to the Group’s core of opportunity. Honoring this vision, and as Group manages investments in real coffee and sugar businesses. So, as the circumstances changed, he and his successors estate, coffee milling and exporting, third generation of the family assumed have adapted to stay relevant, mitigate risks and hotels, healthcare and remote busi- the company’s leadership, they shoul- take advantage of opportunities. ness solutions. He is Co-Founder and dered the complex and often exhaust- Rigor: In Spanish, there is a phrase that Director of Glasswing International, Diego de Sola ing task of stewarding the business captures the idea of striving for excellence in a regional non-profi t that designs through a challenging and changing everything we do: amor al arte – for love of and implements cross-sector programs that pro- context, mostly living outside El Salvador. the art. This translates to doing things right, mote youth and volunteering in the Americas. In After the peace accords in 1992, with the not only because that’s what our stakeholders 2012 he was selected by the World Economic Forum sights to contribute to rebuilding the coun- expect, but because it is what we expect from as a Young Global Leader, and is a Fellow and try and adapt its economy, the Group’s lead- ourselves. Moderator for the Aspen Global Leadership Network. ership returned to El Salvador and ventured Solidarity: From the very beginning, my Diego attended the Hotchkiss School, received his into sectors including financial services, great-grandfather exemplified the value of undergraduate degree from Cornell University, and hospitality, entertainment, and new itera- enlightened self-interest. For more than 100 years, an MBA from NYU Stern School of Business. tions of real estate. In 2019, the baton was our family has understood that the capacity of passed to the fourth generation. Today, as any one person or group to get ahead depends, Will you highlight the history and heri- we prepare to celebrate our 125th anniver- in a very concrete way, on our communities and tage of De Sola Group and what have been sary, my generation has the opportunity to countries progressing as well. In order to achieve the keys to the Group’s success over 125 explore new avenues of value and impact, sustainability, our individual successes and our years? while doing our very best to uphold the core communities’ collective successes cannot devi- My great-grandfather, Herbert de Sola, a values that have contributed to the Group’s ate too much from one another. This idea has Jewish immigrant from Curaçao, set up a small sustainability for well over a century. translated to contributions and collaborations of retail business in Panama at the turn of the 20th The keys to the Group’s success for over all sorts from family members through our busi- Century during the building of the French Canal. a century are trust, adaptability, rigor and nesses, through the H. de Sola Foundation, and When the French project failed, he migrated solidarity. through individual endeavors to address social again, to El Salvador, where his small store Trust: In my opinion, the single most and environmental challenges. grew to endeavors in agriculture, manufactur- important key to the Group’s sustainability over Where do you see the greatest oppor- ing, and real estate. His sons later grew the time is the capacity to build long and trusting tunities for growth for the Group as you De Sola Group further, into a diversified relationships. As part of the fourth generation, I look to the future?

“Today, as we prepare to celebrate our 125th anniversary, my generation has the opportunity to explore new avenues of value and impact, while doing our very best to uphold the core values that have contributed to the Group’s sustainability for well over a century.”

184 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2021 LEADERS MAGAZINE, LLC VOLUME 44, NUMBER 2 “Connecting ideas and people to unleash potential has always been, and will continue to be, at the core of what we do.”

As we enter our 125th year in business, the and credibility to build strong partnerships Foundation, Ashoka, World Economic Forum, world is accelerating at breakneck speeds. This across sectors; and (c) the convening power and Tallberg Global Leaders. brings tremendous opportunities to reinvent our and community engagement to promote volun- What do you tell foreign investors legacy businesses like real estate and coffee, teerism as a valuable tool to generate social and about the opportunities that exist in El while leveraging our hard-earned network to economic value, help heal torn social fabric, Salvador and what can be done to build explore new businesses that align with local and build trust. a better understanding and awareness of and global trends like remote work and the rei- Will you provide an overview of these opportunities? magining of healthcare. Connecting ideas and Glasswing’s work and highlight its programs? However trite it may sound, what truly sets El people to unleash potential has always been, Glasswing is an evolving, innovative, Salvador apart as a country is its people. Beyond and will continue to be, at the core of what nonprofit, social enterprise that empow- other objective advantages to investing in our we do. In today’s environment, capital is abun- ers youth and communities to address the country such as its strategic location; free trade dant, so we are focusing on talent, governance root causes of poverty, violence and migra- agreements; widely spoken English; industrial, and data to ensure a diversity of know-how and tion through education, health, and com- service, fi nancial and logistics expertise; use of know-who, all while placing renewed emphasis munity development programs. We keep the U.S. Dollar; close affi nity with the world’s on staying relevant as the needs, tastes and pref- kids away from violence and enable them largest market; and budding specialty tourism - erences of our markets evolve more quickly. to thrive, despite living in extreme adversity. what friends and colleagues from abroad tell me Finally, we are doubling down on impact, using We do this by forging partnerships across over and over is how comfortable they feel when tools like B-Corps certifi cation to objectively international and local governments, cor- they visit. The hospitality, ingenuity and work manage our search for positive impact beyond porations, nonprofits and civil society. We ethic of the Salvadoran people make for ideal the bottom line and baking sustainability into build on and strengthen existing resources opportunities to invest, nearshore, collaborate, the fi ber of each of our companies. to deliver high impact, sustainable solutions. and even vacation in El Salvador. You are a co-founder of Glasswing. Since 2007, Glasswing has directly impacted How has the global pandemic impacted What was the vision for creating Glasswing 1.5 million people, mobilized almost 140,000 your businesses and how proud are you to and how do you de ne its mission? volunteers, and expanded to a team of 300 see the way your team has shown strength Having grown up between the U.S. with employees in 10 countries. Over our 13 years, and resilience during this unprecedented its solid institutions and a highly polarized and we have helped invest over $90 million in time? unstable El Salvador, I came to realize that trust implementing effective programs focused on We are beyond proud as we witness the between individuals, groups, and ultimately sec- violence prevention, positive youth develop- way in which every team member throughout tors and institutions of society is the cornerstone ment, mental health, employability and the Group has shown resilience, determination of collaboration and development. Together community resilience. We are proud and and solidarity. They offer us a shining example with my co-founders, Ken Baker and Celina de humbled that Glasswing’s work has been rec- and are an inspiration to those of us who have Sola, we realized that with our combined exper- ognized by the InterAmerican Development the privilege of serving them in leadership roles. tise in the private, government, and nonprofi t Bank and the Aspen Institute, among others, We truly hope that they all see in our Group a sectors, we could build an organization that and in 2020 we were recipients of the presti- platform on which they can become the very had: (a) the capacity to design and implement gious Skoll Award. Glasswing’s founders have best versions of themselves, both personally high-impact programs; (b) the independence also been selected as Fellows of the Obama and professionally.•

“Glasswing is an evolving, innovative, nonproﬁ t, social enterprise that empowers youth and communities to address the root causes of poverty, violence and migration through education, health, and community development programs.”