When it comes to philanthropy and community engagement, IESE alum Ignacio (Nacho) Torras and his wife, Isabel Lombana, have cast their net far and wide. From financing academic research, the fine arts and opera to raising awareness for the neurodivergent, they work in tandem to promote positive change.
When entrepreneur and industrialist Nacho Torras (GCP ’13) left his native Barcelona for Bahia de Salvador, Brazil as a teenager, little could he have imagined one day sharing a stage with HM Queen Sofía of Spain to receive a Sophia Award for Excellence.
Yet this was precisely the scene on May 17, 2023 at the Museum of Fine Arts in Houston, when 500 guests gathered to celebrate his contributions and those of his fellow honorees, Gloria and Emilio Estefan, and the renowned art curator Mari Carmen Ramírez.
Their road to Houston was long and winding, yet Nacho and Isabel’s desire to drive positive change has never wavered. Their support of IESE’s Barcelona Innovation Ecosystems is the latest example of their generosity.
Purpose-driven philanthropy
“To whom much has been given, much will be expected” is the guiding principle of Nacho and Isabel, who work as a team when deciding where to focus their generosity. With a “renaissance view” of philanthropy, they have helped finance schools, academic research, art museums, opera programs and awareness campaigns for the neurodivergent, among other initiatives.
As the godparents to two boys on the spectrum, the latter is close to their hearts. In collaboration with the award-winning Roca brothers, in 2019 they opened the Rocambolesc Gelateria in Houston, where neurodivergent servers cordially attend customers and dish out the shop’s gourmet ice cream creations.
Guided by the principle, ‘To whom much has been given, much will be expected,’ Nacho and Isabel work as a team when deciding where to focus their philanthropy.
Nacho’s positive experience in IESE’s Global CEO Program (GCP) and their shared passion for Barcelona are what motivated them to support IESE’s Barcelona Innovation Ecosystems. Led by Prof. Joan E. Ricart, the initiative aims to promote public-private partnerships by harnessing the expertise of multidisciplinary teams to help find novel solutions to the world’s grand challenges.
“We hope to advance two primary goals with this project,” explains Nacho. “First, to help Barcelona become the best city in the world, renowned for its infrastructure, communication system, green agenda, housing, gastronomy, tourism, education, and more.
Second and even more importantly, to create an open-door dialogue with the city’s decision makers regardless of who holds office and serve as policy advisors. By building bridges across public and private spheres, we can help Barcelona become a global reference for innovation ecosystems and an inspiration for other cities.”
From Bahia de Salvador to Houston
While Nacho traces his roots to Barcelona, Isabel hails from Mexico City. As newlyweds in the late 1980s, they settled in São Paulo, where Nacho juggled his university coursework in economics while working at his father’s firm, specialized in chemical commodities trading.
Sadly, his father passed away from ALS around this time. Following his father’s death, Nacho received a job offer from a chemical and gasoline trading firm in Houston. With a limited knowledge of English, he put his degree on hold, closed up shop and embarked on a new adventure with Isabel in Texas.
From trader to entrepreneur
Nacho and Isabel laid down roots in Houston, where they raised their four children: José Luis, Isabel, Ignacio and Ana. There, Nacho also built a highly successful career as a chemical trader. After several years at the firm, he decided it was time to branch out on his own.
“I called Isabel and said, ‘I have some good news and some bad news,’” Nacho shares. “The good news is we have our independence and are going to start a new company! The bad news is we have no money!”
Isabel calculated the yearly finances to support their growing family. “I didn’t have a clear roadmap, but knew I could hit her numbers,” Nacho recalls. “I had my family’s support and a solid ten-year track record – the only thing missing was some seed capital!” Fortunately, his mother agreed to float him a loan.
Tricon Energy was founded in 1996 with a four-person trading team. “In the early days, we used to say that our core metric was not having to ask my mother for any more capital!” he says, laughing.
Luckily, there was no need: after breaking even the first year, the firm rapidly grew into a highly successful worldwide operation.
The evolution of Tricon Energy
Tricon today is the second largest chemical distributor in the world with over $12 billion in annual revenues. Its vast global footprint includes 28 offices, 600 employees and sales operations in 123 countries.
While Isabel doesn’t hold an official role in the company, she has played a pivotal role in its success. Over the years, she has supported Nacho’s intensive travel agenda, hosted countless company luncheons and dinners, and most importantly, taken a leadership role in raising the family, which has always been their top priority.
Nacho made enduring friendships at IESE: “I only belong to three group chats on WhatsApp: my family, my high school friends and my friends from the GCP!”
Fifteen years after its creation, Tricon was growing in size and complexity, prompting Nacho to enroll in IESE’s Global CEO Program to expand his theoretical foundation. His gained valuable new insights, as well as a rich network of new connections and enduring friendships in the GCP, as evidenced by his WhatsApp interactions: “I only belong to three group chats: my family, my high school friends and my GCP friends!”
Become the change you want to see
Nacho and Isabel’s deep community roots and generosity have led to a long list of distinctions. While honored, they are especially grateful for the unique platform these awards provide to share their family values and promote a broader, more meaningful definition of success.
For us, success is about the love for family, our faith community, service to others and doing what we can to move the needle for good.
“Success is too often viewed through a narrow lens of glamour,” says Nacho. “For us, success is about the love for family, our faith community, service to others and doing what we can to move the needle for good. Even the ‘Average Joe’ can make the world a better place and serve as a role model for someone else.”