Our research focuses on the group created around the Urquijo Bank. As the largest and most influential private business group in 20th century Spain, as well as an active partner in several Latin American groups, the Urquijo Group provides an excellent case study for testing available business group theories. The six tasks to be carried out over the next three years will consist of: 1.) identifying and establishing a typology of the most historically relevant business groups in Spain and Latin America; 2.) analyzing the Urquijo Bank in terms of industrial and entrepreneurial banking; 3.) analyzing the constellation of firms created by or around the Urquijo Bank and estimating their weight and impact in the Spanish economy; 4.) examining the recruitment and development of Urquijo’s top and middle management; 5.) analyzing the Group’s cultural activities.; and 6.) comparing the Urquijo Group with other Spanish and Latin American business groups, particularly with regard to their growth strategies and responses to major economic shocks.