It was established by Francisco José (Paco) Gallo y Díez de Escalada,[5] a Spanish hidalgo whose family had held jurisdictional lordship over the Valley of Sedano in Burgos, northern Spain.

Descendant of a once-powerful family, they had held prominent religious and colonial posts, such as Juan López Gallo (1500-1571), Baron of Male and governor of Spanish Netherlands.

As the youngest of 8 and educated in Bilbao and London, he was sent to Peru in 1923 by his father to liquidate a family company and return home following the failed attempts of the rest of his siblings.

At his arrival, the astute 18-year-old saw business opportunity and successfully sold Casa Gallo in an effort to buy land in Cerro de Pasco, situated at more than 14,000 ft of altitude.

During the meeting, the Board of Directors that would be presided over by Mr. Gino Bianchini was appointed, and would be made up of Gerardo Diez, Alberto Quesada, Manuel B. Llosa and Oscar Díaz Dulanto, with the interim Management falling to the latter.