Ayala: The real score

Their sport was rugby, but Ayala Corp.’s young leaders –  Jaime Alfonso Zobel  (son of Jaime Augusto Zobel or JAZA) and Jaime Zobel Urquijo (son of Bea Zobel Jr.), along with Mariana Zobel (daughter of JAZA and who is married to an Aboitiz) are the new quarterbacks of the historic 191–year–old family business.

OK, somebody made this comment before, but I have to ask the same question... why do most of the Zobel men have to have the name Jaime?

At the recent media night of the Ayala Group last week, only Jaime Alfonso and Jaime, however, took the spotlight in the absence of Mariana (who was out of the country) in a sports-themed media night at Ayala Mall’s newest events  place Space@One Ayala.

Media guests were asked to come in their best athleisure attire and were greeted with a photo booth and fun games that Jaime Alfonso even tried out himself such as the basketball, before being ushered into the ballroom where guests were asked to pick out blue baseball caps that had a corresponding door prize.

In line with the sports theme, the pre-dinner buffet, bar chow were burger sliders and nachos, while entertainment was provided by a band that played songs of well-known 1980s groups, followed by an improv group for more entertainment.

The highlight of the night though were the photo slides of Jaime Alfonso and Jaime in their younger years as they played competitive rugby for the Philippine Volcanoes in the case of Jaime, and the much faster game of touch rugby for Jaime Alfonso. The much-applauded  interview portion showcased their outlook for the next nine years before the Ayala Group marks its 200th  anniversary.

Jaime, 36, (who is the chief sustainability and risk officer of Ayala Corp.) provided a light moment to the event upon seeing his old photos with the Volcanoes being flashed on the screen which showed him still sporting a full head of hair as compared to his now clean shaven pate.

Jaime Alfonso, on the other hand, at 34 has lost his college boy look and is looking sharper and less shy as he tackles his leadership role in AC Mobility.

Cesar “Bong” Consing, the current chief executive of Ayala Corp., and clearly the mentor of the eight generation leaders was relaxed and content to stay away from the spotlight and enjoy the occasion.

Consing, indeed, is the best mentor for the young new leaders of Ayala, having started his early career in Bank of the Philippines Islands or BPI, during the tenure of Enrique “EZ” Zobel as CEO. Bong was part of BPI’s powerhouse corporate planning division then led by former Aquino and Duterte official Carlos “Sonny” Dominguez.

Also part of Dominguez’s team was Teodoro “Teddy Boy” Locsin, who is our  current ambassador to the Court of St. James.

I definitely felt old as I sat with Ayala’s young looking and personable chief legal officer and corporate secretary, and Corporate Governance Group head Franchette Acosta, the position once held by Solomon Hermosura whom I had covered as a reporter. Franchette admitted to me that she has to dress up very formally for corporate events as indeed most comment on her youth. She is already 52 years old and has a 19–year–old son, but I swear she looks years younger!

EZ

I was just starting out my journalism career in the early 1980s and Ayala Corp. was still led by Enrique “EZ” Zobel who had assumed the CEO position way back in 1968 after his uncle, US Col. Joseph McMicking (who was married to Mercedes Zobel) retired. However, by 1983, his relationship with his aunt and uncle had soured following a dispute with his cousin Andres Soriano Jr. and EZ lost the support of Do?a Mercedes and Col. McMicking, whose majority share of 49 percent, still holds major control in the family owned conglomerate.

EZ is credited for the then phenomenal growth and expansion of Ayala Corp. which was primarily into the real estate and commercial development, particularly developing the swamp lands near Manila that  is now known as Makati, the Ayala Central Business District, the Manila Polo Club and Manila Golf and Country Club and the surrounding prime subdivisions of Forbes Park, Urdaneta, Bel-Air, San Lorenzo and Magallanes.

It was during EZ’s leadership that the Ayala Group grew BPI, and ventured into semiconductors through Integrated Micro-Electronics Inc. or IMI, and food processing through Purefoods.

Following EZ’s departure, Don Jaime Zobel de Ayala took over the reins, along with his two sons Jaime Augusto and Fernando. Don Jaime likewise proved to be a formidable manager and it was under his helm that  Ayala Corp. expanded into many industries and endeavors.

BPI bought big banks such as Far East Bank and  Prudential Bank, among others.  With the help of Don Jaime’s two newly graduated sons, Jaime Augusto and Fernando, Ayala Corp. branched out from their conservative real estate business, into difficult and competitive businesses that were alien to their company.

It was JAZA who initiated the gutsy entry into the telecom business, which at the time provided enormous risks and extreme capital expenditure against the formidable giant PLDT.

Globe Telecom was the brain child of JAZA, and so was Ayala’s entry into Manila Water.  From an inefficient water system, Manila Water has now developed into a highly efficient water company. Just before JAZA and Fernando stepped down, they had likewise orchestrated the move toward renewables and foreign expansion.

Thus, the triumvirate of Mariana (who has also established a milestone as the first female Zobel to step up to a leadership role in the family corporation), Jaime Alfonso and cousin Jaime now have very big shoes to fill as they lead Ayala Corp. further into the future.ae