Juan Carlos Escotet Alviarez, 31, died 6 miles off the coast of Key Largo on Saturday
The billionaire banking heir was killed by the boat propeller after leaping into ocean to save his fiancée
Andrea Montero, 30, who was accidentally knocked overboard by the boat captain during Key Largo fishing competition on Saturday afternoon
Jumping into the water in a bid to save Montero, he was immediately hit by the propeller and died from his injuries
Montero was accidentally knocked in when the captain stumbled, according to a Venezuelan journalist
Alviarez is the son of Juan Carlos Escotet, founder of Venezuelan bank Banesco, and chairman of Spanish bank ABANCA
Before his death, Alviarez was a director of the American unit of the bank, headquartered in Miami
The son of a Spanish-Venezuelan billionaire was killed in a horrific boating accident in Florida after he was maimed by the vessel’s propeller during a fishing competition when he jumped in the water to save his fiancée – who had been accidentally knocked overboard by the boat captain.
31-year-old fishing enthusiast Juan Carlos Escotet Alviarez was swept up in the wake of the 60-foot craft’s motor about six miles off the shore of Key Largo, according to the Florida Fish and Wildlife Conservation Commission.
The Miami resident was reportedly trying to save his fiancée, Andrea Montero, who was bumped from the boat by the captain when he stumbled while trying to help a boy with a fishing rod, according to an Instagram post by Venezuelan journalist Angela Oraá.
Montero was safely pulled out of water.
Alviarez, scion of a Venezuelan banking dynasty was scheduled to wed Montero in November. The pair were participating in a fishing tournament hosted by the Ocean Reef Club, a gated community.
His father, Juan Carlos Escotet is the founder of Venezuelan bank Banesco and is worth a reported $3.5 billion, according to Forbes.
The banking heir appears to have been a fan of competitive fishing, according to an Instagram page that documented his hobby.
One post features a photo of the passionate angler alongside his fiancée and other friends aboard a boat named Otoro with the caption, ‘Despite the slow fishing this weekend, we had a great time in the #reefcup as always. Still managed to catch two on Friday and one on Saturday. Came in 6th out of 51 boats and second place on Friday’s daily.’
At a point during the fishing competition on Saturday afternoon, Alviarez reportedly, jumped from the stern of a 60-foot vessel about six miles off the shore of Key Largo trying to save his fiancée.
He had jumped in to help save Montero after she was accidentally knocked into the water when the captain stumbled, according to the Venezuelan journalist.
Juan Carlos Escotet Alviarez graduated from the University of Miami and was a member of the board of directors of Banesco USA, the American division headquartered in Miami, according to the company’s website.
On the company’s website, the bank said Alviarez has ‘vast experience in real estate development in the Miami area.’
Two of his brothers also work for the bank, according to Venezuelan newspaper El Nacional.
The family patriarch, Juan Carlos Escotet, was born in Madrid in 1959 and grew up as one of eight children of Spanish immigrants in Venezuela.
He began his banking career at the age of 17, working full time as a messenger for Banco Union in 1976 while studying economics at night.
Recounting his life journey Escotet told the magazine Mercado de Republica Dominicana, ‘Banking doesn’t run in my family.’
‘What runs in my family is a lot of education and a lot of perseverance,’ he said.
In 1986 he founded a brokerage firm in 1986, adding banking services in 1991, according to Bloomberg. A year later, he expanded his operations to Panama.
In 2001, he merged his bank with Banco Union, the same bank that employed him as a college student.
Banesco has branches in Venezuela, Spain, the US, Panama, Puerto Rico, Brazil, the Dominican Republic, Colombia, Switzerland, Germany, Portugal, the UK and France.
In 2013, Banesco bought the Spanish bank Abanca for $1.3 billion. Since 2017, the self-made billionaire, who lives in Spain, has been Chairman of the Board of Directors of ABANCA.
Now living in Spain, Escotet is also on the board of directors of the Spanish Confederation of Savings Banks, [CECA].