Ayala Corporation
Encyclopedia
Ayala Corporation is a holding company
for the diversified interests of the Ayala Group. Founded in the Philippines
by the Spanish and German Ayala
, Roxas
, and Zobel families during colonial rule, it is the country's oldest and largest conglomerate
. The company has a portfolio of diverse business interests, including investments in retail, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, and management and business process outsourcing.
In the late 19th century, Ayala participated in the construction of the Punte de Ayala over the Pasig River
in Manila. Built of wood in 1872, the Ayala Bridge was reconstructed in steel in 1908, and was the first steel bridge in the Philippines. In 1888, the corporation introduced the first tramcar
service in the Philippines. Ayala was mainly responsible for the development of Makati as the financial district of Manila and the Philippines after World War II
.
In April 2010, FinanceAsia named Ayala Corporation as the best-managed company in the Philippines, as well as best for corporate governance and best for corporate social responsibility.
In 2011, Ayala began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power, the purchase of the iconic Northwind farm for wind power, and its joint venture with Sta. Clara Power for run-of-the-river hydro power. Ayala will contribute 1000 MW to Philippine power supply, by 2015.
publicly announced the decision by Jaime Zobel de Ayala
to retire as chairman of the corporation by April 2006. The board also announced Zobel de Ayala's appointment as chairman emeritus upon his retirement. His elder son, Jaime Augusto Zobel de Ayala
, succeeded him as Chairman and Chief Executive Officer of the corporation, while his younger son, Fernando Zobel de Ayala, has assumed the position of President and Chief Operating Officer. The family holding company Mermac continues to hold a majority stake in Ayala Corporation.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
for the diversified interests of the Ayala Group. Founded in the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
by the Spanish and German Ayala
Ayala
-Places:*Ciudad Ayala, Morelos, Mexico*Ayala, a town in Álava province, Spain*Ayala Center, the Philippines*Ein Ayala, Israeli moshav-Organizations and companies:*Ayala Corporation, a holding company operating in the Philippines*Ayala & Co., champagne producer...
, Roxas
Roxas
Roxas various by language: Roahaas , Roahous , Rohan , Rohanna , Rojo , Roja Red , Rocksas , Rocksberry, Roxbury, Roxberry, Rowhous , Rosas , Roxburg , Roxburghe , Roxborough , Rocshire , Roxshire , Rochas and Rocha , Roach , Roashan Places in the Philippines:* Pres. Manuel A...
, and Zobel families during colonial rule, it is the country's oldest and largest conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
. The company has a portfolio of diverse business interests, including investments in retail, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, and management and business process outsourcing.
In the late 19th century, Ayala participated in the construction of the Punte de Ayala over the Pasig River
Pasig River
The Pasig River is a river in the Philippines that connects Laguna de Bay to Manila Bay. Stretching for , it is lined by Metro Manila on each side...
in Manila. Built of wood in 1872, the Ayala Bridge was reconstructed in steel in 1908, and was the first steel bridge in the Philippines. In 1888, the corporation introduced the first tramcar
Tramcar
The Tramcar is a trackless train service running on the Boardwalk in the Cape May County, New Jersey communities of Wildwood and North Wildwood. The service, which began on June 11, 1949, takes passengers along the two-mile long Wildwood boardwalk...
service in the Philippines. Ayala was mainly responsible for the development of Makati as the financial district of Manila and the Philippines after World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
.
In April 2010, FinanceAsia named Ayala Corporation as the best-managed company in the Philippines, as well as best for corporate governance and best for corporate social responsibility.
In 2011, Ayala began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power, the purchase of the iconic Northwind farm for wind power, and its joint venture with Sta. Clara Power for run-of-the-river hydro power. Ayala will contribute 1000 MW to Philippine power supply, by 2015.
Attached companies
The Ayala Corporation is currently the holding company for the following:- Real estate
- Ayala LandAyala LandAyala Land, Inc. is the real estate arm of Ayala Corporation, one of the Philippines' oldest and largest conglomerates. From an internal division of Ayala Corporation, it was spun off and incorporated in 1988. It was publicly listed in the Philippine Stock Exchange in 1991...
- Ayala Land
- Financial services
- Bank of the Philippine IslandsBank of the Philippine IslandsBank of the Philippine Islands is the oldest bank in the Philippines still in operation and is the country's third largest bank in terms of assets, the country's largest bank in terms of market capitalization, and the country's most profitable bank...
- Bank of the Philippine Islands
- Telecommunications
- Globe Telecom, Inc.
- Utilities
- Manila Water Company Inc.
- Business Process Outsourcing and ITInformation technologyInformation technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
- Stream Global ServicesStream Global ServicesStream Global Services, Inc. is a global outsourcing solution provider, providing BPO services for Fortune 1000 clients , with more than 30,000 employees in 50 service centers of 22 countries in 50 contact centers; it currently manages more than 100 million voice, e-mail, and chat contacts a...
- Stream Global Services
- Automotive
- HondaHondais a Japanese public multinational corporation primarily known as a manufacturer of automobiles and motorcycles.Honda has been the world's largest motorcycle manufacturer since 1959, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than...
Philippines - IsuzuIsuzu, is a Japanese car, commercial vehicle and heavy truck manufacturing company, headquartered in Tokyo. In 2005, Isuzu became the world's largest manufacturer of medium to heavy duty trucks. It has assembly and manufacturing plants in the Japanese city of Fujisawa, as well as in the prefectures...
Philippines
- Honda
Retirement of the Ayala chairman
In January 2006, the board of directorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
publicly announced the decision by Jaime Zobel de Ayala
Jaime Zobel de Ayala
Jaime Zobel y Fitz , also known as Jaime Zobel de Ayala, is a prominent Filipino businessman and philanthropist. He was the last managing partner of Ayala y Compañía in 1967 when the company changed to a corporation. He served as both president and chairman of Ayala Corporation from 1983 to 2005...
to retire as chairman of the corporation by April 2006. The board also announced Zobel de Ayala's appointment as chairman emeritus upon his retirement. His elder son, Jaime Augusto Zobel de Ayala
Jaime Augusto Zobel
Jaime Augusto Zobel de Ayala is a Filipino businessman. He currently serves as chairman and chief executive officer of the Ayala Corporation...
, succeeded him as Chairman and Chief Executive Officer of the corporation, while his younger son, Fernando Zobel de Ayala, has assumed the position of President and Chief Operating Officer. The family holding company Mermac continues to hold a majority stake in Ayala Corporation.