Jolene Siripala – Page 2 – Forbes Asia Custom

Megaworld: The Philippines’ Largest Office Landlord And Developer

Posted on February 28, 2025 | by Jolene Siripala | Leave a Comment

Megaworld Corporation, the property arm of Alliance Global Group, Inc., stands tall as the Philippines’ biggest office landlord and developer. Recognized for the second time as having the Best Operational Office Portfolio at the recent PropertyGuru Philippines Property Awards 2024, Megaworld’s unmatched roster of office developments spread across various strategic locations in the country, reinforcing its role as a cornerstone of the nation’s economic growth and urban transformation.

Megaworld townships, exemplified by Uptown Bonifacio, embody the company’s pioneering Live-Work-Play-Learn concept.

In the ever-evolving real estate landscape, Megaworld’s office spaces are not merely towering world-class structures; they are hubs of innovation, productivity and growth—solidifying the company’s role in driving the Philippines’ status as a global business destination.

A Leader in Office Space Development

With over 1.5 million square meters of office space spanning more than 80 towers, Megaworld dominates the office real estate sector in the Philippines. The company is on track to expand its office space portfolio to two million square meters by 2030, reinforcing its leadership and long-term commitment to driving the growth of one of the world’s fastest growing economies.

Megaworld’s office developments are home to over 200 multinational corporations, including global leaders like Google, JPMorgan Chase, IBM, Wells Fargo, Samsung and Bayer. These spaces have also attracted some of the largest names in the business process outsourcing (BPO) and IT industries, such as Accenture, Thomson Reuters, FactSet, Carelon, Cognizant, iQor, Telus and WNS. The company’s reputation for delivering world-class office environment, including over 30 office buildings with LEED certifications, has made it the preferred partner for global companies.

Megaworld’s townships such as Iloilo Business Park boost IT-BPO growth in key areas.

Pioneering the BPO Industry with Eastwood City

Megaworld’s journey as the leader in office development began with Eastwood City, the country’s first cyberpark in Quezon City. As the cradle of the Philippines’ booming BPO industry, Eastwood City has grown to house over 80 IT and BPO firms, including global giants such as IBM and Accenture. Celebrating its 20th anniversary, Eastwood City remains a premier business hub, fostering innovation and excellence that have driven the nation’s economic progress.

Following the success of Eastwood City, Megaworld replicated its winning formula in other key developments such as McKinley Hill, McKinley West and Uptown Bonifacio in Taguig City. These townships now accommodate nearly 100,000 BPO workers and host major corporations, including Wells Fargo, Bayer, Samsung, FactSet and Thomson Reuters, among others. Notably, the Uptown Bonifacio township is home to bespoke office towers built for JPMorgan Chase, a testament to Megaworld’s capability to deliver tailored solutions for global enterprises.

The Philippines’ property giant Megaworld is led by **Andrew Tan** (center) as Chairman and Founder, **Lourdes Gutierrez-Alfonso** (left) as President and **Kevin Tan** (right) as Executive Director.

Driving Development and Economic Growth Beyond Manila

Beyond Metro Manila, Megaworld has been instrumental in supporting the Philippine government’s efforts to decentralize economic activity. By establishing office hubs in key growth areas in the provinces, the company has brought employment opportunities closer to where Filipinos live. Iloilo Business Park in Western Visayas, for instance, dominates the IT-BPO market in Iloilo City, employing 20,000 workers and attracting first-time locators such as Carelon and WNS.

In Cebu, The Mactan Newtown stands as a thriving business hub, featuring eight office towers that house industry leaders such as Manulife and Concentrix, significantly boosting the province’s economy. In Bacolod City, Megaworld has raised the bar with the launch of its first and most advanced office tower in the city, solidifying its presence in Western Visayas. Over in Mindanao, the Davao Park District continues to support regional growth with a 14-story office tower catering to Manila-based companies expanding into Davao City, the region’s economic epicenter.

Eastwood City, Megaworld’s 18.5-hectare inaugural township, is the first IT-Cyberpark and birthplace of the BPO industry in the Philippines.

McKinley Hill, Megaworld’s 50-hectare township in Taguig City, plays host to the Philippine headquarters of leading global corporations.

The company is also expanding its footprint in Luzon, with new office towers already in the pipeline and rising soon in Capital Town in San Fernando City in Pampanga province and Maple Grove in General Trias City in Cavite province.

Setting the Standard for Sustainability in the Philippine Office Industry

As the leading office developer, Megaworld is also at the forefront of sustainability. The company’s 32 LEED-certified and registered office buildings incorporate cutting-edge green design and construction practices. Landmark projects include the award-winning Worldwide Plaza in Uptown Bonifacio, LEED Gold-certified One Paseo in ArcoVia City and the International Finance Center, recognized as the “Best Green Office Development” at the 2024 Philippines Property Awards.

The 24-story International Finance Center in Megaworld’s Uptown Bonifacio township in Taguig City has been awarded the country’s “Best Green Office Development” at the 2024 Philippines Property Awards.

The JPMorgan Chase Tower stands as one of the most modern and sustainable buildings in Uptown Bonifacio.

A Vision of Growth and Empowerment

Megaworld’s unwavering commitment to innovation, regional development, and environmental stewardship cements its role as a transformative force in the Philippines. By creating world-class office spaces, driving decentralization and championing sustainability, Megaworld is not just building structures—it is shaping the future of work and empowering the Filipino workforce.

As the country’s biggest office landlord and developer, Megaworld remains a vital partner for global corporations and a key player in the nation’s journey toward economic growth and global competitiveness.

https://www.megaworldcorp.com/

Talent Development, A Necessity In A Changing Context

Posted on February 28, 2025 | by Jolene Siripala | Leave a Comment

**Véronique Tran**, Executive Vice-President, ESCP Business School *(Photo by Emmanuel Fradin)*

How does the current context challenge businesses and organizations?
VT : Adaptability is inherent to business and the lives of organizations, which have always had to evolve in order to survive. However, the scale of today’s economic, societal and environmental upheavals—such as the need to rethink growth in a world with finite resources, the growing polarization of opinions or even the arrival of new generations—implies real paradigm shifts on the part of companies and individuals, leaders and managers. Knowing how to change ways of thinking is therefore crucial.

Why is such a development necessary?
VT : Every organization is subject to inertia and resistance to change. And yet, the need to evolve is inevitable. Take AI, where current developments require us to rethink certain processes to improve performance. However, we must keep in mind that AI remains a tool that must be taken advantage of and not a universal remedy. Our role as a global business school is to provide companies, managers and directors with the tools to understand the contexts in which they operate. That’s why our executive education courses include geopolitics and sustainability modules in addition to our technical lessons—to help them be more flexible and resilient, and “stay relevant” in the words of Steve Jobs.

How does ESCP approach talent development?
VT : To be sure, our mission as a school is to deliver knowledge, but it is above all to teach how to learn. Thanks to ESCP’s unique multi-campus model and international approach, one of our fundamental lessons is to take into account different business contexts. This, coupled with a strong research drive, helps us accomplish what I consider to be an essential goal : shaking up learners, and encouraging them to “unlearn” to better embrace new ways of doing business and seeing the world. Of course, academic expertise remains key, as do some of our convictions, particularly on the issue of sustainability, for which we encourage our learners to reflect and act upon the impacts. ESCP thus offers courses that combine theory and practice, where learners exchange their experiences and learn from each other, and during which both alumni and professional experts provide their testimonies and experiences. By enabling us to better understand our environment and developing talent, training helps us to manage change, which I believe is inevitable given the major transformations we face.

To learn more about ESCP Business School, visit escp.eu

The Art Of Sapphire Sculpting The Future With Richard Mille

Posted on February 28, 2025 | by Jolene Siripala | Leave a Comment

When it comes to innovation in watchmaking, Richard Mille enjoys an indisputable legacy as a true and enduring pioneer. Among countless groundbreaking innovations, the brand’s exceptional knowledge of working with sapphire clearly sets it apart. The crystalline allure and phenomenal durability of the special material are a cornerstone of Richard Mille’s commitment to creating timepieces that push boundaries.

Seeing the Possibilities
As little as a decade ago, the use of sapphire in watchmaking, beyond applications in crystal glass, was still largely unchartered territory. Recognizing the immense potential of this material, Richard Mille undertook an ambitious project to fully unravel the prized qualities of this distinctive gem. Rather than crystal components, designers envisioned a whole watch case sculpted entirely from a block of sapphire.

Why sapphire? The appeal of this material lies in its combination of functionality and aesthetics. With a rank of nine on the Mohs scale of mineral hardness (just behind diamond), sapphire is phenomenally resilient against impact and scratches while offering a smooth, warm, tactile surface. The material’s brilliance and transparency provide a clear window into the intricate workings of the watch movement, allowing every minute detail to be appreciated and admired, from multiple perspectives.

Surpassing the Challenges
To transform the vision of a watch case sculpted entirely of sapphire into reality, Richard Mille roped in Swiss manufacturer of synthetic sapphire products, Stettler AG. To create such a case, a manufacturing process called the Kyropoulos method had to be used. In this process, aluminum oxide is heated to over 2,000 degrees Celsius, with a small sapphire seed crystal initiating growth. Over the span of a few weeks, this seed will “grow” into a sapphire block weighing several dozen kilograms.

At this stage, the raw and unfinished sapphire block begins its journey to greatness. The iconic tonneau shape of a Richard Mille places unimaginable complexity on the machining and finishing process. Sapphire is, additionally, an exceptionally hard and durable material, with a hardness value in the range of 2,000 Vickers. For this reason, every individual case requires over 1,000 hours of careful milling and polishing, before it may be inspected and sent to the atelier. Such is Richard Mille’s obligation to deliver on perfection.

This unwavering commitment to accept nothing less is evident in the RM 056 Tourbillon Split-Seconds Chronograph Sapphire. During its unveiling in 2012, the stunning timepiece was the first in the world to feature a fully-transparent sapphire case. In showcasing the intricate workings of a mechanical masterpiece, the RM 056 stunned the horological world with its bold declaration of how the impossible could be achieved—with a healthy dose of ingenuity, collaboration and hard work.

As is customary, Richard Mille would raise the bar it had set. Three years later, in 2015, the brand debuted a watch with a colored sapphire case—the RM 07-02 Automatic Sapphire. Unlike colorless sapphires, the production of colored sapphires requires the infusion of metal oxides into the sapphire’s crystalline structure during the growth stage. This may sound simple but the reality involves new layers of unimaginable complexity.

Engineers constantly faced the challenge of maintaining uniform color across batches, as even minute variations in temperature or growth rate could result in uneven discoloration and bubble formation. Such persistence and vigilance would pay off spectacularly. Richard Mille would, yet again, dazzle the watchmaking world with colored sapphire cases in striking hues of blue, green and pink.

Transforming How We Perceive Watches
More than a technical feat, the fusion of sapphire into horology has literally changed the way the world looks at a wristwatch. Sapphire radiates light as it channels it across the case, illuminating once-hidden mechanical beauty for all to appreciate. Whether it is the flawless purity of the RM 056 or the chromatic intensity of the RM 07-02, each timepiece challenges our perception of what a watch can be, redefining the boundaries of artistry and technology.

The savoir faire Richard Mille displays in shaping sapphire is testimony to the brand’s commitment to innovation. Through groundbreaking techniques once deemed impossible, the company has earned a well-deserved reputation for turning the impossible into reality. Each sapphire timepiece reflects this journey of discovery and exploration into the unknown.

A Tribute to Craftsmanship
Richard Mille’s odyssey with sapphire is, above all, the fusion of cutting-edge technology with timeless artistry and craftsmanship. In a world that often clings to tradition, Richard Mille will continue forging a path as an innovator unafraid to challenge conventions. Each sapphire timepiece is not simply a watch but a horological milestone, proving that the future of watchmaking is luminous, unbreakable and in good hands.

Gyeongju To Host 2025 APEC Summit

Posted on December 13, 2024 | by Jolene Siripala | Leave a Comment

South Korea is renowned as one of the leading meetings, incentives, conferences and exhibitions (MICE) destinations in the world, attracting thousands of visitors every year who attend a range of events, from large trade shows and smaller-scale meetings to global summits and corporate retreats. The number of visitors to Korea for business-related meetings has increased, with many extending their stay to experience the country’s rich culture, cuisine and shopping.

Backed by a track record of successfully hosting international events, Korea is gearing up to host the 2025 Asia-Pacific Economic Cooperation (APEC) Summit in the southeastern city of Gyeongju.

APEC comprises 21 member economies along the Pacific Rim, including the United States, China and Japan. Founded in 1989 as a ministerial-level meeting, APEC has held annual summits since its inception. Korea previously hosted the 13th APEC Summit in Busan in 2005, and the 2025 APEC Summit will mark the country’s second time hosting the event in two decades. The 2025 APEC Summit will carry the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” although the details are still being finalized.

Gyeongju, the Next Host City

Gyeongju seamlessly blends unique Korean traditions with modern culture, providing guests with a unique experience as it hosts the 2025 APEC Summit. It was the capital of the ancient Silla Dynasty, which ruled for over 1,000 years. Today, this historical city has a population of over 250,000 people and is recognized as a living museum.

It is home to three UNESCO World Heritage Sites: Seokguram Grotto and Bulguksa Temple, the Gyeongju Historic Areas and Yangdong Village. These landmarks offer a glimpse into Korea’s traditional culture, including its Buddhist and Confucian heritage. Around Bomun Lake, where the summit will be held, visitors can enjoy stunning landscapes, including the Bomunjeong Pavilion, of ten described as a “scenic beauty of Korea.”

In addition, the city is equipped with modern infrastructure, including professional conference facilities such as the Gyeongju Hwabaek International Convention Center and reputable accommodation. Furthermore, the Gyeongju National Museum, Gyeongju Expo Park and Hwangnyongwon can also serve as unconventional venues for conferences or meetings, each offering a unique and distinctive atmosphere.

Visit Korea and Explore Gyeongju

Take this opportunity to explore Gyeongju, the host city of APEC 2025. If you are curious to learn more about its rich history and offerings, start planning your visit. With its distinct scenery throughout all four seasons, you will discover why Gyeongju has grown from a tourist city to a rising destination for the MICE industry, making it the perfect host for the 2025 APEC Summit.

www.koreaconvention.org

Tailored Wealth Strategies For The Globally Mobile

Posted on December 13, 2024 | by Jolene Siripala | Leave a Comment

Imagine a successful entrepreneur in their 40s or 50s, with thriving business interests across Asia, property investments in Europe and the Middle East, and children attending universities around the world. Their wealth is not only spread across borders, but also spans a wide range of business and personal needs. Having spent most of their career growing their fortune, they are now focused on preserving their wealth and passing on a legacy that reflects their values.

This situation is typical of today’s ultra-high net worth individuals (UHNWIs), whose needs are becoming as complex and diversified as their portfolios. To realize their financial ambitions, many are seeking sophisticated wealth management solutions that go beyond traditional banking services.

By leveraging the capabilities of a global banking group, Standard Chartered Private Bank is able to offer its UHNW clients a comprehensive suite of capabilities tailored to meet their unique requirements.

Driving Performance With Expert Insights
A key component of this tailored approach is Standard Chartered’s Chief Investment Office (CIO), which provides expert guidance to UHNWIs, helping them make well-informed investment decisions. At the heart of the CIO’s advisory approach is an investment philosophy designed to counter common behavioral biases in decision-making. The CIO team leverages diverse perspectives—both internally and externally—to offer clients a balanced, well-rounded view of the market outlook. Through carefully crafted asset allocation models and sector insights, the CIO team provides customized investment recommendations across multiple asset classes.

Unlocking Opportunities in Private Markets
For many UHNWIs, traditional public markets by themselves do not offer all the opportunities for clients to achieve their wealth growth goals. They are increasingly turning to alternative solutions and private markets to diversify their portfolios and achieve greater resilience. Standard Chartered Global Private Bank provides the connection to these hard-to-access opportunities in private market investments, which are traditionally reserved for large institutions.

Customized Lending Solutions
Structured lending has become another essential tool for UHNW clients who need to manage both growth and liquidity. Standard Chartered Global Private Bank’s structured lending solutions cater to various financing needs, from enhancing yields on investments to unlocking capital in concentrated stock holdings. For example, clients with significant single-stock holdings can access liquidity to diversify their portfolios without sacrificing control over core assets.

These lending solutions also address short-term liquidity requirements, helping clients navigate both personal and business investments. For instance, the private bank recently helped a Southeast Asian client refinance a large loan, originally held with another private bank.

“Based on past experience, the client was concerned about whether a new banking partner would truly understand his needs, and be committed to a long-term relationship. We responded by structuring a three-year lending solution at competitive pricing, demonstrating our understanding of the client’s need and desire to forge an enduring partnership with him,” says Tristan Tan, Global Head, Structured Lending, Standard Chartered.

Planning for Future Generations
As UHNW families expand and financial priorities shift, Standard Chartered is able to provide them with comprehensive services related to succession planning, family governance and intergenerational wealth transfer. With a deep understanding of its clients’ long-term goals, the bank helps preserve family legacies through governance structures that reflect each family’s values.

To further support legacy and succession planning, Standard Chartered recently hosted a Global Family Network Forum in Hong Kong, where UHNW families from around the world gathered to share insights. The bank also emphasizes the importance of engaging the next generation and has plans for programs that will equip future family leaders with the knowledge necessary to manage wealth in a rapidly evolving financial landscape.

Meeting Holistic Financial Needs
As part of a global financial institution, Standard Chartered Global Private Bank is able to offer both personal and corporate financial services. A single relationship helps UHNW clients to manage all aspects of their wealth by bringing together specialist teams to offer the relevant personal and corporate banking solutions, such as debt issuance and trade finance.

Alongside its direct services to UHNWIs, Standard Chartered also supports External Asset Managers (EAMs), who serve wealthy clients and family offices across Asia. Through this partnership model, EAMs gain access to Standard Chartered’s extensive network, infrastructure and full suite of products while maintaining direct relationships with their clients.

“This collaboration ensures that EAMs have the support they need to fulfill UHNW clients’ needs comprehensively. It also reflects Standard Chartered’s commitment to delivering end-to-end solutions for UHNWIs, whether directly or through trusted advisors,” says Vic Malik, Global Head, EAM, Standard Chartered.

As UHNW clients increasingly seek financial services partners that understand both the complexity and unique nature of their wealth management needs, Standard Chartered Global Private Bank has demonstrated its ability to deliver comprehensive solutions that empower its clients at every stage of their wealth journeys.

www.sc.com/en/wealth-retail-banking/private-banking/

AIA’s Bold Vision To Empower Asia’s Affluent

Posted on November 8, 2024 | by Jolene Siripala | Leave a Comment

As Asia’s high net worth (HNW) population continues to expand, AIA Singapore (AIA) is stepping up to meet the changing needs of this discerning clientele. In recent years, the insurer has experienced significant growth in the HNW segment, fueled by a powerful combination of tailored wealth management products and a holistic focus on well-being.

At the core of AIA’s success is the ‘Wealthbeing’ by AIA proposition, a comprehensive offering designed to support both the financial and personal aspirations of HNW clients. Leading this evolution is CEO Wong Sze Keed, whose vision and hands-on leadership have strengthened AIA’s approach to serving the HNW market since she took the helm in 2020.

Putting People at the Heart of Success
For Wong, the key to success lies in prioritizing people. “At the heart of our organization are the people—be it our clients, employees, or insurance representatives,” she says. This guiding principle has redefined AIA’s culture, resulting in an inclusive and positive environment, where employee well-being and professional growth are front and center.

By championing employee wellness, Wong’s leadership has led to improved outcomes for employees and clients.

As an advocate for mental well-being, Wong made the award-winning comprehensive wellness program, AIA Vitality, available to employees as part of their benefits. This initiative extends to customers, and aims to encourage healthier lifestyle choices by empowering members on their wellness journey. It ensures AIA employees are well-supported and better positioned to serve customers and positively impact the broader community.

Additionally, Wong focuses on equipping her team with necessary skills to thrive in an ever-evolving industry, ensuring they deliver exceptional service to clients. One notable achievement is AIA’s partnership with the Wealth Management Institute of Nanyang Technological University, where personal wealth managers receive specialized training and certification to match the expertise of private bankers.

“Our clients have noticed the difference,” Wong says, reflecting on the overwhelmingly positive feedback. “When our wealth managers are empowered with the right tools and knowledge, they can offer an enhanced level of service, providing clear guidance and personalized solutions.”

This investment in professional development has improved employee engagement and spurred innovation, translating into stronger service and higher customer satisfaction.

Going Beyond Wealth
With Asia’s HNW population expected to increase by 61% to 28.2 million by 2026, the need for wealth management solutions that offer more than just financial security is growing. In response, Wong led the ‘Wealthbeing’ by AIA proposition, which blends wealth creation with well-being, aligning with her vision of helping HNW clients achieve financial success and a healthier, more fulfilling life.

“‘Wealthbeing’ by AIA is about maximizing growth and personal fulfillment,” Wong explains. “We help HNW individuals prioritize their well-being so they can live Healthier, Longer, Better Lives—because health is wealth.”

A key feature of this initiative is AIA Altitude, a bespoke program that offers HNW clients a range of exclusive benefits, from personalized services to premium health solutions and invitation-only lifestyle experiences. AIA Altitude surpasses typical wealth management, helping clients grow their portfolios while enhancing overall quality of life.

Ribbon-cutting ceremony at the opening of AIA Wealth Centre with guest-of-honour, Gillian Tan, Assistant Managing Director of the Development and International Group and Chief Sustainability Officer of Monetary Authority of Singapore (fourth from left)

Shaping the Future of Wealth with Bold New Solutions
Wong has driven the creation of innovative products tailored to the unique needs of wealthy clients. One standout offering is the AIA Platinum Series, a suite of wealth management solutions that includes the AIA Platinum Wealth Elite and AIA Platinum Indexed Legacy plans. These products provide flexible options for legacy protection and wealth accumulation, helping clients to manage and transfer their wealth effectively across generations.

The AIA Platinum Indexed Legacy plan, launched this year, is particularly notable for combining high insurance coverage with opportunities for wealth growth. Clients can benefit from potential market gains while maintaining protection during downturns, a key feature that appeals to those seeking security and growth potential.

Dedicated Platforms for Personalized Service
AIA introduced new platforms including the recent launch of the AIA Wealth Centre and AIA International Wealth, reflecting the company’s commitment to providing comprehensive, tailored solutions for its HNW clients.

Situated in Singapore’s business district, AIA Wealth Centre provides an exclusive space where HNW clients can consult with experts in fields such as legal, tax and trusts. This multidisciplinary approach provides clients with holistic advice tailored to their financial goals and personal aspirations.

AIA International Wealth, a subsidiary of AIA, leverages Singapore’s standing as a financial hub to offer curated insurance solutions across the region. By drawing on AIA’s wealth management expertise, AIA International Wealth ensures clients can securely grow and manage their wealth.

Aligning With Singapore’s Financial Hub Vision
Wong not only transformed AIA from within but positioned the company to align with Singapore’s broader financial ambitions. As Singapore strengthens its role as a global wealth management hub, AIA plays a key role by investing in innovation and talent development.

“Singapore will continue to attract more Asian and global wealth residents in the coming years,” Wong says. “It’s the perfect base for businesses and investors looking to capitalize on Asia’s immense growth potential.”

Her long-term vision for AIA is clear: to remain the leading and most trusted insurer for HNW clients, both locally and regionally. As the financial landscape shifts, Wong is committed to keeping AIA ahead of the curve, leveraging technology and data insights while ensuring that the company’s personal touch remains intact.

“As we grow, we aim to stay at the forefront of the industry, setting new standards of excellence in meeting the needs of our discerning clients,” she says.

Under Wong’s thoughtful leadership, AIA continues to raise the bar in serving its HNW clientele. With a bold vision, innovative solutions and a dedicated focus on well-being, AIA remains well-positioned to lead in the wealth management space, offering clients not just financial solutions, but a pathway to living Healthier, Longer, Better Lives.

www.aia.com.sg

Redefining The Boundaries Of Speed And Time

Posted on November 8, 2024 | by Jolene Siripala | Leave a Comment

One glance at the RM 65-01 McLaren W1 is sufficient to reveal that this is no ordinary tool for telling time but a beacon of advanced horological innovation and craftsmanship. For the discerning clientele for which this timepiece is intended, the RM 65-01 McLaren W1’s visual appeal instantly sets it apart. At every angle, and from every perspective, the technology and materials lavished on this extraordinary watch reflect uncompromising commitment to craftsmanship, engineering and performance. Designed in collaboration with McLaren Automotive, this timepiece is the definitive “racing machine on the wrist.”

The Evolution of Extraordinary Performance
The partnership between Richard Mille and McLaren Automotive, on-going since 2016, has resulted in a series of era-defining horological creations through the years. These include ground-breaking timepieces such as the RM 50-03, RM 11-03 and RM 40-01.

The RM 65-01 McLaren W1 marks the fourth creation in this ultra-exclusive series and is inspired by the new McLaren W1 supercar. Motoring afficionados will be aware that the new McLaren W1 is the ground-breaking successor to two of the greatest supercars ever made—the McLaren F1 and the McLaren P1.

In creating the RM 65-01 McLaren W1, the brief was decidedly straightforward—nothing but the best. The watch would mirror the cutting edge, high-performance features of the car in terms of shape, materials and functionality. In terms of its “engine,” the watch also needed a movement that suitably reflected the boundary-pushing abilities of the supercar.

Engineered for Speed
It was therefore only a matter of course that Richard Mille would select its highest-performance, automatic chronograph movement, the RMAC4, to power the RM 65-01 McLaren W1. For starters, the RMAC4 operates at an appropriately high speed of 5Hz or 36,000 vibrations per hour. This high oscillation rate enables the split-second mechanical chronograph caliber to record elapsed times down to one-tenth of a second.

In keeping with automotive tradition, the engine of the RM 65-01 McLaren W1 sits on chassis-mounted rubbers instead of being secured by a conventional casing ring. The movement also features a rapid-winding system that enables the 60-hour power reserve to be fully charged in ultra-quick time.

Adhering to McLaren’s philosophy that the ultimate supercar must deliver “performance everywhere,” the RM 65-01 McLaren W1 would, by default, be up to the task of performing flawlessly on every occasion and circumstance. Tasks for which the RMAC4 is perfectly suited. Not only is the 480-part movement robust, it is equipped with a variable geometry winding rotor that can be adapted to the owner’s lifestyle.

“This project perfectly illustrates Richard Mille’s philosophy of constantly pushing technical boundaries to create innovative watches that include the latest watchmaking developments with a functional, practical and high-performance approach. Our watches are designed to be worn and used—whatever the circumstances,” explains Salvador Arbona, Technical Director for Movements at Richard Mille.

Shaped, Forged and Crafted to Flawlessness
Back in 2022, when the McLaren W1 was still in its initial development, Richard Mille’s creative team was given exclusive access to the first clay mock-ups of the supercar. With the car’s compact, muscular shape and high waist line, it was apparent this was going to be a strikingly beautiful car. After much analysis and deliberation, the creative team, led by Cécile Guenat, Creative and Development Director at Richard Mille, decided the view of the car from above would make the optimal starting point for the design of the watch.

The McLaren W1’s aesthetics are, first and foremost, a function of its unique “aero-cell” chassis architecture. This feature has had a profound influence on the design of the RM 65-01 McLaren W1 and consequently created one of the greatest technical challenges for the team—the design and development of the distinctive indented “double” bezel.

As the term implies, the watch’s Carbon TPT bezel actually sits upon a second bezel made of satin-finished grade 5 titanium. This twin-bezel design adds a dimension of depth while accentuating the curves and contours of the watch. Although integrated elegantly and seamlessly into the overall aesthetic, getting to this stage was a feat that necessitated nine months of work and eight prototype reviews.

Additional design elements drawn from the McLaren W1 supercar are apparent. The new skeletonized titanium dial draws inspiration from the dynamic flair of the car’s wheel rim patterns while the crown features an easy-to-grip rubber coating in McLaren’s papaya orange, along with a tip adorned with McLaren’s distinctive “Speedmark.” Even the aerodynamic angles of the foils and ducts deployed on the W1’s engine cover and spoilers have been translated into patterns on the papaya orange strap.

Form, Function and Intuitive Usability
The RM 65-01 McLaren W1 is, above all, a true driver’s watch, designed for operators who value function as much as form. Apart from its intuitive simplicity and the ease in which features may be accessed, the watch’s function selector crown also operates along the lines of a transmission selector—W for Winding, D for Date and H for Hand-setting.

“The W1 was designed to give the driver everything they need and nothing they don’t,” says Andrea Bermudez, Global Marketing Director, McLaren Automotive. “It’s about a combination of epic power delivery, incredible performance and a high level of theater, both on the racetrack and the road. It is a daunting task to reflect these attributes in a watch but Richard Mille has exceeded expectations with the RM 65-01 McLaren W1.”

With its breathtaking design, impeccable functionality and limited availability, the RM 65-01 McLaren W1 is as much a statement of technical intent as it is of rarity. Richard Mille will only be creating 500 pieces of this heirloom quality timepiece—a watch that is destined for grail status and for future owners of the RM 65-01 McLaren W1, the promise of countless moments of pleasure and pride await.

For more information about this exceptional timepiece, visit www.richardmille.com.

The Philippines: A Roadmap To Success

Posted on November 8, 2024 | by Jolene Siripala | Leave a Comment

The Philippines achieved a robust GDP growth rate of 6.3% in the second quarter of 2024, driven by strong domestic demand, consistent public investments, and favorable macroeconomic conditions. This positive outlook, supported by the government’s commitment to infrastructure development and structural reforms, presents a wealth of opportunities for global investors looking for a dynamic and resilient market.

Resilient Growth Amid Global Challenges
Despite global economic challenges, the Philippines stands out for its resilience. The country has been on an impressive trajectory in recent years, with growth fueled by easing inflation, supportive monetary policies, and improvements in key infrastructure. The Asian Development Bank (ADB) expects the country’s GDP growth to be at 6% for 2024 and 6.2% for 2025, driven by solid consumer spending, buoyant services including tourism, and strategic investments. The World Bank has echoed this optimism, raising its growth forecast to 6% for 2024 due to improved investment conditions. These factors create a stable environment for investors, even in the face of external risks.

At the core of the Philippines’ growth story is the government’s ambitious infrastructure program. Under the “Build Better More” initiative, the government has allocated a staggering PHP9.14 trillion (US$158 billion) for 185 flagship projects, ranging from transport networks to renewable energy. This large-scale push is aimed at enhancing connectivity across the archipelago. This will further strengthen the country’s position as a vital trade and investment hub in the region.

Simultaneously, ongoing structural reforms—particularly in liberalizing key sectors such as telecommunications, energy, and transportation—are opening new doors for foreign participation.

Domestic consumption, which accounts for a significant portion of the country’s GDP, continues to expand. Supported by steady remittances from overseas Filipino workers, rising employment, and improving household incomes, broad-based spending continues to contribute to economic expansion. This is complemented by a young and dynamic population, which ensures a large and growing consumer base for businesses.

Key Sectors Shine With Investment Potential
Several sectors are poised to benefit from the country’s growth, presenting valuable prospects for investors. Services continue to outpace other industries with remarkable growth, having become a critical driver of the country’s development. Higher tourism revenues and service exports—including from the business process outsourcing (BPO) industry—are strengthening the current account.

The Philippines’ real estate market continues to boom, fueled by urbanization and demand for commercial spaces. Companies like AREIT, backed by the country’s leading full-service real estate developer Ayala Land, are leading the way in providing innovative pathways for investors to tap into the nation’s dynamic property sector. Forbes has recently dubbed the Philippines as the “world’s hottest luxury housing market,” with the Makati financial district marking the biggest jump in prime residential prices among 44 cities tracked in the Prime Global Cities report. The high demand for this premium location is propelling sales for high-end projects such as The Estate Makati, a 60-story architectural landmark by SM Development Corporation and Federal Land designed by Foster + Partners, which has garnered awards for design and sustainability.

Top conglomerate SM Investments Corporation has shown its commitment to more sustainable practices with significant investments in climate-resilient infrastructure and geothermal energy. This aligns with the country’s shift toward a low-carbon economy, enhancing energy security and attracting environmentally conscious investors.

SM’s banking arm, BDO Unibank Inc., is a prominent example of how the financial sector plays a pivotal role in supporting economic progress. As the government and private investors continue to embrace green development, BDO’s financing of multiple sustainable transport and renewable energy initiatives highlights its leadership in sustainability-conscious finance.

As a key player in global port operations, International Container Terminal Services, Inc. (ICTSI) is modernizing and expanding its operations to meet increasing demand, while prioritizing environmental responsibility. ICTSI’s investments in green ports and hybrid equipment position it at the forefront of sustainable logistics solutions.

A Bright Future for Business
A business-friendly environment has thrived in the Philippines thanks to economic liberalization, a growing middle class, and a proactive infrastructure agenda. The country’s potential for long-term growth is spurred by continuous improvements in government regulations and efficiency, as it commits to further modernize through digitalization and innovation. Key industries such as BPO are also evolving alongside breakthroughs in automation and artificial intelligence. As they expand to other locations and client bases, they drive socioeconomic advancement beyond the National Capital Region. This ensures that the entirety of the Philippines, and not just Metropolitan Manila, remains attractive and competitive on the global stage.

By offering a singular combination of solid economic fundamentals, a dynamic workforce, steady consumer demand, and a strategic location at the crossroads of Asia and the Pacific, the country is well-positioned for businesses looking to expand in the region.

The Philippines’ roadmap to success is clear. With the right focus and formula, the country is poised to continue its upward trajectory, offering compelling returns for astute global investors who appreciate its potential.

Managing Global Wealth Across Borders And Generations

Posted on November 8, 2024 | by Jolene Siripala | Leave a Comment

Standard Chartered at Dubai International Financial Centre is one of the bank’s four wealth hubs.

Picture a wealthy multi-generational family with homes spread across continents, children attending schools in different time zones and business interests ranging from private equity in Europe to consumer goods in the Middle East and technology startups in Asia. Their needs go beyond simply wealth management to encompass a comprehensive suite of solutions that address cross-border investments, risk management and legacy planning.

As they move through different stages of life, the priorities of these ultra-high net worth (UHNW) individuals and their families shift, from growing their assets to ensuring that wealth is transferred smoothly to their heirs. For many, their business ventures are also deeply intertwined with their personal wealth, making corporate finance just as critical as investment management.

Standard Chartered Global Private Bank has long understood these evolving needs, offering its UHNW clients a range of tailor-made solutions and services to achieve their objectives throughout their lives and wealth journeys.

In particular, Standard Chartered’s ability to meet cross-border needs, such as multi-currency accounts and international mortgages, is critical for these individuals. Families with children studying abroad, for instance, often require international financing options for property and education expenses. This level of flexibility is made possible through the bank’s global network and local expertise, making it a natural partner for clients managing assets across multiple jurisdictions.

For the more experienced clients and established business owners, the emphasis shifts toward wealth preservation and legacy planning. “The question becomes not only how to maintain wealth, but how to ensure it is passed on in a way that reflects the client’s values and vision for the future,” says Vinay Gandhi, Regional Head, Private Banking for Europe, Middle East & Africa, and Global Head, South Asian Community, Standard Chartered.

Here, Standard Chartered Global Private Bank’s family advisory and wealth planning services come into play, providing tailored guidance on topics ranging from succession planning to philanthropy.

A Flexible, Unbiased Approach
Central to Standard Chartered’s wealth management strategy is its open architecture model. This means that instead of advising solely on proprietary products, Standard Chartered sources its investment solutions from a global range of asset managers, ensuring unbiased recommendations that best suit each client’s unique needs.

“Our open architecture platform means we are not beholden to any single product or asset manager, which allows us to be completely client-focused,” says Gandhi. This flexibility enables the bank to partner with its clients to craft diversified investment portfolios that can adapt to both market conditions and clients’ changing priorities.

Furthermore, Standard Chartered’s investment approach ensures that portfolios are robust enough to weather market volatility, incorporating a variety of asset classes from traditional equities and bonds to alternative investments, such as private equity and hedge funds, while positioning clients to take advantage of long-term growth opportunities.

**Vinay Gandhi**, Regional Head, Private Banking for Europe, Middle East & Africa, and Global Head, South Asian Community, Standard Chartered

The Power of One-Bank Solutions
A key feature of Standard Chartered Global Private Bank’s service is its “one-bank” approach, which enables clients to tap on the capabilities of the entire Standard Chartered group to meet both their personal wealth and business needs through a single platform. This is particularly beneficial for the growing entrepreneurial UHNW client segment.

“We offer a holistic solution for clients with both persona l and corporate financing requirements. It’s not just about managing their personal wealth but also supporting their business activities through our corporate banking services,” Gandhi explains.

Leveraging the close collaboration between the bank’s private and corporate banking divisions, clients can access services like debt issuance, trade finance and syndicated loans in addition to personal wealth management.

A Specialist in Islamic Finance
Another area of expertise that Standard Chartered Global Private Bank has increasingly focused on is Islamic finance. With the global Islamic finance industry projected to grow from US$4.5 trillion in 2022 to US$6.7 trillion by 2027, the private bank is well-positioned to meet the Islamic financing needs of UHNW clients in key regions such as the Middle East, which has seen a rapid accumulation of wealth in recent years.

“Islamic finance is no longer a niche market, but a rapidly expanding area of wealth need,” says Gandhi.

Standard Chartered Saadiq, the Islamic finance arm of the bank, offers a wide range of Shariah-compliant products, from savings and current accounts to home finance and wealth management solutions. These products adhere strictly to Islamic principles, ensuring they are free from interest and other elements forbidden under Shariah law.

UHNW individuals and families are increasingly seeking bespoke advice and financial solutions to meet their plethora of needs.

What makes Standard Chartered’s offering stand out in this space is its deep-rooted expertise across key markets in the Middle East, South Asia and Southeast Asia. The bank’s long-standing presence in these regions, combined with its comprehensive Shariah-compliant systems, allows it to deliver financial solutions that align with clients’ ethical and religious beliefs.

Moreover, Standard Chartered’s Islamic solutions are crafted with expert guidance from its global Supervisory Committee of Shariah scholars, adding to the robustness of its offerings.

Standard Chartered has won numerous awards for its Islamic finance offerings in the past few years. In 2024 alone, the bank was honored with Euromoney’s “Best Islamic Bank” awards in the United Arab Emirates, Bangladesh and Pakistan.

Crafting a Meaningful Legacy
Philanthropy and sustainable investing are also becoming increasingly important for many UHNW clients, particularly those focused on leaving a meaningful legacy. Standard Chartered helps clients integrate these elements into their wealth plans, guiding them on sustainable investing opportunities and philanthropic initiatives that align with their long-term goals.

By offering solutions that meet its clients’ entire spectrum of needs, Standard Chartered Global Private Bank is helping UHNW families navigate their financial journeys with confidence, from growing their assets to preserving their legacies for future generations. Says Gandhi, “Our mission is simple: to provide solutions that meet our clients’ needs today, and support their ambitions for the future.”

www.sc.com/en/wealth-retail-banking/private-banking/

Supporting The Wealth Journeys Of Global Chinese

Posted on October 11, 2024 | by Jolene Siripala | Leave a Comment

As China’s affluence continues to rise, we see more and more ultra-high net worth (UHNW) individuals who are globally mobile and internationally minded with increasingly complex financial needs. These wealthy “Global Chinese” have substantial wealth and are actively engaging in international investments and business ventures. This demographic is not limited to those residing within mainland China but also includes Chinese expatriates and entrepreneurs based overseas who are deeply integrated into the global economy.

One region in particular that has experienced rapid wealth accumulation in China is the Greater Bay Area (GBA), a megalopolis of 86 million people made up of nine cities and two special administrative regions in South China, including Guangdong Province, Hong Kong and Macau.

Guangdong alone is home to over 300,000 households with net family assets exceeding RMB10 million (US$1.4 million). Indeed, the number of high net worth (HNW) households in the province accounts for 16% of all such households on the mainland. Meanwhile, Hong Kong is the top destination of wealthy mainland Chinese for their overseas investments.

The financial needs of the Global Chinese are diverse. These individuals often require comprehensive solutions that go beyond traditional banking, encompassing personal wealth management, business financing and cross-border transactions. Furthermore, as they often have families residing in different countries, they also require convenient access to financial services in multiple jurisdictions.

“A typical UHNW Chinese client might have a private banking account in Hong Kong, a family office in Singapore, an SME account in mainland China and a mortgage for a property in the United Kingdom. The ability to manage such a complex portfolio across various locations requires a bank with both global reach and local expertise,” says Raymond Ang, Global Head of Private Bank and Affluent Clients, and Head of Greater China and North Asia, Wealth and Retail Banking, Standard Chartered.

Global Connections, Local Expertise
Standard Chartered Bank, with its deep roots of over 160 years in China and an extensive international network, is well positioned to serve these clients, offering tailored solutions that meet both personal and business needs across geographies.

The bank’s clients often have cross-border needs, such as investments in international markets, managing multi-currency payments, funding their children’s education abroad or purchasing a second home in a different jurisdiction as an investment.

With a wealth presence in 25 markets and four wealth hubs—Hong Kong, Singapore, the United Arab Emirates (UAE) and Jersey—the bank ensures that such client needs are met, regardless of where they or their investments are based.

As a universal bank, Standard Chartered offers a single platform that allows UHNW clients to manage both their personal finances and business needs under one roof. This “one-bank” approach is particularly beneficial for business owners who need solutions for both their personal wealth, and to support their corporate transactions.

The “one-bank” capabilities have been demonstrated for multiple clients. Just this year Standard Chartered has facilitated several corporate transactions for clients globally to help them with corporate solutions such as debt issuance, trade finance, qualified domestic institutional investor (QDII) schemes, and syndicated loans. The private bank continues to be in active conversations with other UHNW clients to help them with their corporate needs beyond personal wealth management.

**Raymond Ang**
Global Head, Private Bank and Affluent Clients and Head, Wealth and Retail Banking, Greater China and North Asia, Standard Chartered.

“We see Global Chinese continuing to expand their influence and investments internationally. With Standard Chartered’s long standing presence and on-the-ground knowledge of China and with our international network, we are equipped and ready to partner with Chinese clients to help them effectively manage their wealth, no matter where in the world they choose to grow it.”

Whether a Chinese client based in Hong Kong is looking to invest in UK real estate, or a Singapore-based Chinese entrepreneur is managing business interests in mainland China, Standard Chartered’s wealth hubs help clients manage and grow their wealth across borders.

In particular, the bank leverages its strong presence in Hong Kong—the primary financial hub of the GBA—to serve clients with cross-border needs. Hong Kong’s status as a leading offshore financial center for Chinese clients makes it an ideal location for managing international investments and accessing global financial solutions.

In the case of Singapore, its established legal and regulator y frameworks are attractive as a financial hub giving clients access to markets in Southeast Asia and even extending to South Asia.

Furthermore, Standard Chartered has steadily invested in resources and capabilities designed to enhance the client experience over the years. Among other initiatives, it has steadily expanded its stable of relationship managers, set up specialized teams for wealth planning, family advisory, corporate solutions and sustainable finance, and continued to enhance its digital platforms.

“By focusing on these areas, Standard Chartered ensures that its services are not only comprehensive but also future-ready, meeting the evolving needs of our Global Chinese clients,” says Ang.

Unlocking Offshore Opportunities
As UHNW Chinese clients increasingly look beyond mainland China for offshore investment opportunities, Standard Chartered’s global presence becomes even more critical. The bank’s deep understanding of regional business dynamics, regulatory environments and cultural nuances enables it to offer tailored advice and solutions to its clients.

Furthermore, Standard Chartered’s global Chief Investment Officer’s (CIO) team provides them with timely market insights to help Chinese clients capitalize on global market opportunities. The bank’s open architecture approach to wealth solutions ensures that clients receive best-in-class products sourced from leading international fund managers.

Having over 900 international and private banking relationship managers stationed across its four wealth hubs is just another way that Standard Chartered seeks to bridge any cultural and language gaps with clients, and enhance their wealth journey.

Says Ang: “We see Global Chinese continuing to expand their influence and investments internationally. With Standard Chartered’s long standing presence and on-the-ground knowledge of China and with our international network, we are equipped and ready to partner with Chinese clients to help them effectively manage their wealth, no matter where in the world they choose to grow it.”