l. Success Story of the Ayala’s
Almost all Filipinos probably know the Ayala’s. There is the famous Ayala Avenue along Makati. It houses one of the business districts here in the Philippines. Ayala is one of the prominent names in Philippine business. They own one of the country’s largest banks, Bank of the Philippine Islands. They own one of the country’s top telecommunication networks, Globe Telecom. They own one of the country’s leading real estate developer, Ayala Land. Other businesses of the Ayala’s include water distribution business Manila Water Company, information technology business Integrated Microelectronics, Inc., business process outsourcing company Integreon, These businesses all form the Ayala Group of Companies. The Ayala’s, through its private holding company, Mermac Inc. (after Mercedes Macmicking, aunt of Jaime and Fernando) owns roughly 58% of Ayala Corp. Ayala Corp. owns roughly 35% of Globe, 35.1% of BPI, 46.2% of Manila Water and majority of Ayala Land. With this empire of businesses, the Ayala’s are considered as the second richest person in the Philippines according to Forbes, next to retail tycoon Henry Sy. The Ayala’s roots can be traced back 170 years ago when Domingo Roxas and Antonio de Ayala shook hands and set up Casa Roxas in March 1834. Since then, the Ayala Group has gone through life-changing events and made landmark business decisions that have allowed it to emerge stronger than before. It has become the Philippines’ oldest commercial house and one of the most profitable diversified conglomerates. Currently, it is now on the hands of the eight generation of the Zobel de Ayala’s, led by brothers Jaime Augusto Zobel de Ayala (also known as JAZA) as the Chief Executive Officer of Ayala Corp. and Fernando Zobel de Ayala as the Chairman of Ayala Land, Inc. Both brothers were prepared to face the challenges as soon as they got their Bachelor of Arts degrees from the famous Harvard University. Jaime majored in Economics and...
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