• Source: Ayala Corporation

Ayala Corporation (Spanish: Corporación Ayala, formerly Ayala y Compañía; lit. 'Ayala & Company') is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines by Domingo Róxas and Antonio de Ayala during Spanish colonial rule, it is the country's oldest and largest conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, management, and business process outsourcing. As of November 2015, it is the country's largest corporation in terms of assets ($48.7 billion).




History


Ayala y Compañía was established in 1876 and traces its origins to Casa Róxas, a partnership established in 1834 between Domingo Róxas and Antonio de Ayala. Casa Róxas began with the formation of a distillery which became known as the maker of Ginebra San Miguel. The distillery ultimately known as the Ayala Distillery was acquired by La Tondeña, Inc. in 1929.
In 1888, the company introduced the first tramcar service in the Philippines. The company participated in the construction of the Ayala Bridge over the Pasig River in Manila. Originally built of wood in 1872, the bridge was reconstructed in steel in 1908 to become the first steel bridge in the Philippines. The company was responsible for the urban development of Makati after World War II under the leadership of Col. Joseph Ralph McMicking, who was married to Mercedes Zobel de Ayala.
Ayala y Compañía shifted from a partnership to a corporation with the establishment of Ayala Corporation in 1968 and became public company in 1976. Ayala Corporation welcomed the minority investment of Mitsubishi Corporation as its strategic partner in 1974.
In 2011, Ayala Corporation began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power and Sta. Clara Power for run-of-the-river hydro power, and the purchase of the iconic Northwind farm for wind power. Ayala will contribute 1000 MW to the Philippine power supply, by 2015. FinanceAsia named Ayala Corporation as the best-managed company in the Philippines in 2010 and 2015, as well as best for corporate governance and best for corporate social responsibility.




Attached companies and investments






Retirement of Jaime Zóbel de Ayala


In January 2006, the board of directors publicly announced the decision by Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman emeritus upon his retirement. His eldest son, Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son, Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer. The Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation.




References






External links


Ayala Corporation website
Ayala at 175 magazine
Philippine Stock Exchange Information Page on Ayala Corporation

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