Ayala_Corporation Ayala Corporation From Sterwiki Ayala Corporation is a holding company with a diverse business portfolio with a legacy of pioneering the future. Its mission is to ensure long-term profitability, increase shareholder value, provide career opportunities, and create synergies to build mutually beneficial partnerships and alliances with those who share its philosophy and values. Ayala Corporation's legacy is its adherence to the principles and ideals that wrought its existence. The Ayala tradition of excellence and integrity has run continuously through seven generations of one pioneering family aided by some of the best management talents in the country. It is among the oldest business houses in the country from a fledgling company in 1834 and it has become one of the largest, most respected, and most widely diversified conglomerates in the Philippines today. History Ayala Corporation traces its roots back to Casa Roxas, founded by Domingo Roxas and Antonio de Ayala in 1834 to engage in agriculture, manufacturing, trading and mining. But in 1842 Don Domingo,is arrested for the third time and confined to Fort Santiago for almost a year before his daughter, Margarita, sails to Spain to secure authority from Queen Isabel II to free her father. She is successful but her father dies before she returns to Manila in 1943. In 1843 Doña Margarita, assumes control of the company combining business and civic work; she founds the Colegio de la Concordia.(a school for girls that still exists)In 1844,Doña Margarita marries Don Antonio 1844, consolidating the partnership of Ayala-Roxas. In 1851 Don Domingo's son, José Bonifacio, buys the 1,650-hectares of Hacienda Makati and Banco Español-Filipino de Isabel II, now known as Bank of the Philippine Islands, is founded by Royal Decree of Queen Isabel II of Spain to become the first private commercial bank in the Philippines and Southeast Asia; Don Antonio becomes a director and one of two auditors of the bank In 1852, BPI issues the country's first currency notes. It held this exclusive privilege until 1942. In 1864, Don José Bonifacio pulls out of the partnership to go into business for himself; Doña Margarita, her other brother Mariano, and her husband form Roxas Hermanos. In 1868 Don Mariano dies; the company changes its name to Casa Ayala In 1869, Doña Margarita dies; Don Antonio runs the company single-handedly for the next seven years In 1876, Don Antonio dies and his daughters Camila, Carmen, and Trinidad inherit the company; the firm becomes Ayala y Compania; Doña Carmen and Trinidad's husbands, Don Pedro and Jacobo Zobel Zangroniz, respectively, are named capitalist partners; they manage and continue to diversify the company. (One of Don Jacobo and Doña Trinidad's children, Enrique Zobel de Ayala, later marries his first cousin Consuelo, the daughter of Doña Carmen. Among their grandchildren are Enrique Zobel and Jaime Zobel de Ayala.)Ayala y Compañia participates in the construction of two bridges over the Pasig River, the Colgante and, with the Eiffel company, Ayala Bridge. In 1889, Don Jacobo introduces the first tramcar service in the country Ayala y Cia finances the 19th-century Manila's telephone system and electric power utility In 1890, Don Jacobo is elected a director of Banco Español-Filipino In 1896, Don Jacobo dies and, with Don Pedro in Europe, Doña Trinidad divests some properties and delegates management of others, she sells the tramcar services and the company's interests in pharmaceutical and invested in marketable securities in hotels and trade which boomed after the Filipino-American War and WWI, respectively. She increased family holdings in BPI, bought into Hong Kong & Shanghai Bank, and invested in Honk Kong real estate. Fernando Zobel, eldest son of Don Pedro and Doña Trinidad, supports Gen. Emilio Aguinaldo's struggle for independence In 1897, BPI opens it first branch in Iloilo, introducing branch banking to the country In 1898, Carriedo Waterworks, Manila's first community water system, is built Ayala y Compañia enters real estate development In 1910, Don Fernando becomes an industrial partner in the company In 1912, Don Pedro dies in Paris; Doña Carmen manages his estate which includes the newly incorporated Central Azucarera de Calatagan. In 1914, The Roxases give up their interests in Ayala y Compañia to Doña Trinidad Hacienda San Pedro de Makati is given to the children of Enrique Zobel (second son of Don Pedro and Doña Trinidad) Jacobo, Alfonso, and Mercedes Zobel y Roxas In 1918, Doña Trinidad dies; Dons Enrique and Fernando assume the firm's management; they establish the first ceramic factory in the country In 1924, Destileria de Ayala is sold to Carlos Palanca who renames it La Tondeña In 1925, Don Fernando retires to Spain leaving Don Enrique to manage the firm through the Depression In 1929, Don Enrique's children Jacobo, Alfonso, and Mercedes, become partners in the firm bringing with them the Hacienda San Pedro de Makati and strengthening the firm's involvement in insurance and finance; only Alfonso remains in senior management In 1930s, Ayala y Compañia develops its first subdivision, in Singalong, Manila In 1931, Doña Mercedes marries Joseph McMicking, Jr. After WWII, Don Alfonso Zobel de Ayala and Joseph McMicking Jr. (husband of Doña Mercedes), consolidates the company's investments and focus on real estate development They transform 930 hectares of the original Hacienda Makati, starting with Forbes Park, into an integrated residential and business community under a 25-year controlled development program Asia's showcase of urban development 38 ha are set aside for a regional shopping center, now known as Ayala Center In 1933, Filipinas Life Assurance Company is founded as a subsidiary of Filipinas Compañia de Seguros, a company established in 1913 by Don Antonio Melian In 1948, Makati's population is 38,000 In 1950s, Makati's municipal income is P100,000 In 1952-62 Prime residential communities are developed in Makati San Lorenzo Village is developed Bel Air Village is developed Urdaneta Village is developed San Miguel Village is developed Magallanes and Dasmariñas Villages are developed Filipinas Foundation Inc., the Philippines' first corporate foundation, is established to provide scholarships in technical and vocation education, research, and the arts Dormant during WWII, Filipinas Life Assurance Company is reactivated by Col. J. R. McMicking to take over the industrial life insurance portfolio from Insular Life In 1963, FGU Insurance Company is incorporated as a descendant of Filipinas Compania de Seguros, whose corporate life expired after 50 years of existence In 1968, Ayala y Compañia ceases to be a partnership and becomes a corporation Timeline after Ayala y Compañia becomes Ayala Corporation 1971 Universal Insurance and Indemnity Company is reorganized from a direct-writing company into a professional company, Universal Reinsurance Corporation 1972 Makati's municipal income is P50 million 1974 Ayala Corporation invests in Globe-Mackay Cable & Radio Corporation, established in 1933 and heir to the Philippine Press Wireless founded in the commonwealth era to advocate independence 1976 The public and employees are allowed to own equity in Ayala Corporation; Mitsubishi Corporation of Japan becomes a significant minority stockholder Ayala Corporation expands and intensifies its land development activities, diversified with the help of partners, developed international operations, and divested non-essential investments 1980 Integrated Microelectronics Inc. is incorporated and operates, initially, in assembling and packing microchips 1980s Filipinas Life Insurance Company becomes a multi-line insurance company 1981 Ayala Corporation buys a majority equity position in Pure Foods Corporation (processed meats, hogs), a multi-food company established in 1956, and forms the Ayala Agricultural Development Corporation (hybrid corn, distributing seeds to farmers) 1983 Pure Foods starts poultry (broilers) and livestock operations BPI sets up the country's first electronic banking system 1986 Ayala Corporation supports the people's cause that led to EDSA FGU becomes one of the first computerized non-life operations with an on-line inquiry facility in the country 1988 Ayala Corporation spins off its Real Estate Division to form Ayala Land Inc., an independent subsidiary Ayala Museum is built to bring Philippine history and art to Makati 1990 Filipinas Life Insurance Company changes its name to Ayala Life Assurance Incorporated and becomes a full-service financial institution Filipinas Foundation changes its name to Ayala Foundation and expands the reach of its programs 1990s Ayala acquires 661 ha in Alabang, Muntinlupa, and develops it into a self-contained residential community known as Ayala Alabang Ayala Corporation and Singapore Telecoms International pool resources to boost Globe's capabilities MRT 1996 Filipinas Heritage Library, an electronic research library on Filipino history and culture, is inaugurated as the Ayala Group's centennial gift to the Filipino people Honda, Isuzu 1997 The Ayala Group sets up the Manila Water Company to upgrade water service in the east zone of Metro Manila Pure Foods acquired exclusive rights to develop the popular Burger King chain in the Philippines; PhilKing Restaurants Development Corporation, in which Pure Foods has a 49% stake, will manage the franchise 1998 The joint venture Purefoods-Hormel Co. is formed 1999 Ayala International Pte Ltd purchased 82.3% of Singapore-listed TLB Land Embarks on first e-commerce initiative, Ayala eCenter 2000 BPI completes merger with Far East Bank and Trust Company Completes transfer of ownership of insurance companies to BPI to reposition the bank as a fully integrated financial services company iAyala is incorporated to be the catalyst to the Group in identifying and building new Internet-driven businesses Completes transfer of real estate investment activities to Ayala International Holdings Limited (formerly TLB) The joint venture Pillsbury Purefoods Co. commences operations Philippine Nutrition Technologies, the joint venture with Taiwan's Great Wall, starts operations 2001 Globe becomes a 100% owner of Isla Communications Company Pure Foods Corporation is sold to San Miguel Corporation 2002 Created AC Capital Ayala Land signed an agreement for the joint acquisition of a controlling stake in Fort Bonifacio IMI merged with subsidiary Electronics Assemblies, Inc. 2003 BPI signed MOA for merger of Universal Reinsurance Corporation with Malayan Reinsurance Corporation Globe relaunched wirleine services under Innove Communications, Inc. 2004 AC successfully issued a P7 B bond, the biggest issue for a domestic corporate name ever Globe launched breakthrough m-commerce service G-Cash MWC laid the groundwork for its initial public offering scheduled in March 2005 AFI inaugurated new Ayala Museum in commemoration of Ayala's 170th anniversary See also List of Philippine companies Ayala Group of Companies Website (http://www.ayala.com.ph) Quelle "Ayala_Corporation" : Wikipedia.org Main page for "Ayala_Corporation"