The counterintuitive hiring rule that built Leopoldo Alejandro Betancourt López’s empire

Business schools teach students to evaluate opportunities through financial models, market analysis, and competitive positioning. Leopoldo Alejandro Betancourt López starts somewhere else entirely.

“There are 10,000 good ideas out there,” he observed during a recent discussion about investment strategy. “But not all of them come to be a successful venture, because there are many factors that make them successful. The most critical one is the people.”

This people-first philosophy has guided Betancourt López through investments ranging from a Spanish sunglasses manufacturer, Hawkers, to African banking ventures, generating returns that have built his estimated $2.6 billion net worth.

His approach challenges conventional wisdom about what drives business success, placing human capital ahead of business models, market timing, or technological advantages.

Hiring for intellectual superiority

The recruitment philosophy that Leopoldo Alejandro Betancourt López employs deliberately seeks individuals who surpass his own expertise in specific domains.

“When I hire people, I take a hard look at their experience. I want to know that they know more than me, that they’re better than me, that they have deeper knowledge than me in that industry,” he explained.

This intellectual humility distinguishes his leadership approach from executives who view superior knowledge as threatening rather than valuable.

His hiring decisions at Hawkers demonstrate this principle in action. Bringing Pedro Beneyto as CEO in 2022, with deep experience from eyewear chain Alain Afflelou, provided specialised retail expertise that complemented Betancourt López’s strategic vision.

Similarly, recruiting former Santander CEO Alfredo Sáenz as president of Banque de Dakar in March 2016 brought decades of banking experience to the African venture. Each appointment reflected a deliberate selection of leaders whose domain expertise exceeded his own.

“I’m a true believer in teams. I do believe that talent is the most important thing in a company, or in a corporation,” Leopoldo Alejandro Betancourt López stated.

This belief translates into compensation structures, organisational design, and governance frameworks that empower talented individuals rather than constraining them through excessive oversight.

Pushing teams beyond comfort zones

The management style that Leopoldo Alejandro Betancourt López practices combines respect for expertise with relentless demands for excellence. “I push people hard to bring me solutions for new problems.

When people tell me it’s very difficult, I tell them it’s not difficult; they’re just not trying hard enough,” he described. This approach creates productive tension between acknowledging team members’ superior knowledge while refusing to accept limitations they perceive.

His leadership methodology extends beyond standard business hours. “For me, there’s no wrong time for a call. There’s no wrong time to be on top of it,” Betancourt López noted.

This around-the-clock engagement signals to teams that extraordinary outcomes require extraordinary commitment.

Yet this intensity serves a purpose beyond mere activity; it creates organisational cultures where continuous improvement becomes habitual rather than exceptional.

The balance between autonomy and oversight reflects careful calibration. “I make my investment, I make sure the structure of command is in place, and I can go in and out as I please, but it’s a standalone investment.

It doesn’t need me, but it has my attention every time I can be there,” he explained about portfolio company management. This selective intervention allows talented teams to operate independently while knowing that support and scrutiny remain available when needed.

At Auro Travel, this management philosophy enabled the rapid accumulation of approximately 2,000 ride-sharing licenses before competitors recognised the opportunity.

The team’s ability to execute complex regulatory navigation stemmed from both their expertise and Betancourt López’s insistence on exploring every possible avenue for license acquisition.

“I push for a lot of out-of-the-box thinking and solutions that are not the traditional solutions for a problem,” he stated, describing how he encourages innovation within his organisations.

Leopoldo Alejandro Betancourt López acknowledges that his management intensity can challenge team members.

“I would drive you crazy, and I would focus on the task at hand, and I will not leave it alone, to make sure my team gets it right,” he admitted with characteristic directness.

Yet this demanding approach attracts high performers who thrive under pressure and appreciate clear expectations for excellence.

Intuition informed by excellence

The decision-making framework that Leopoldo Alejandro Betancourt López employs combines data analysis with intuitive judgment shaped by the quality of surrounding talent.

“Everything I do is based on intuition and information, based on the right information and the right people that surround you,” he explained.

This synthesis recognises that pure quantitative analysis cannot capture all variables affecting business outcomes, particularly those involving human creativity and adaptation.

His social and professional networks deliberately cultivate exposure to exceptional thinkers.

“If I go to the right places and I interact with the right people, I’m going to get good information and then my intuition is going to be more tuned up, and better,” Betancourt López noted. This conscious curation of influences ensures that gut feelings reflect collective wisdom rather than isolated hunches.

The emphasis on surrounding himself with superior talent extends to board composition and advisory relationships.

At Pacific Exploration & Production, where he served as director from 2015 to 2017, Betancourt López worked alongside industry veterans whose operational experience complemented his financial acumen.

These relationships provided insights that pure market data could never capture, an understanding of organisational dynamics, regulatory relationships, and technical challenges that influence success or failure.

“I like motivated people. I like talented people,” he stated simply, yet this preference drives complex organisational decisions. Performance evaluation systems, promotion criteria, and cultural values all reinforce the primacy of talent over other considerations.

When teams demonstrate exceptional capability, Leopoldo Alejandro Betancourt López responds with increased investment and expanded mandates rather than extracting value through cost reduction.

The talent-centric approach particularly matters during crisis periods.

When Hawkers faced Spain’s economic recession shortly after Betancourt López became president in 2016, the company’s ability to adapt quickly stemmed from having assembled individuals capable of reimagining business models under pressure.

Rather than implementing across-the-board cuts that might damage team quality, the company made strategic adjustments that preserved core talent while optimising operations.

His investment philosophy ultimately rests on a fundamental belief about value creation. While financial engineering and market timing contribute to returns, Leopoldo Alejandro Betancourt López views human capability as the primary driver of exceptional outcomes.

“You could have many great ideas, but the execution is what matters,” he emphasised. This execution depends entirely on the people transforming concepts into reality, making talent acquisition and development the highest-leverage activity for any organisation.

The talent equation that defines Betancourt López’s approach continues producing results across diverse industries and geographies, validating his conviction that investing in people generates superior returns to any other strategic focus.