Aboitiz Family
Overview
The Aboitiz family founded Aboitiz & Company in 1920 in Cebu, starting as a trading and shipping firm. Core businesses now include power generation (Aboitiz Power), banking (Union Bank of the Philippines), food (Pilmico), and infrastructure. It is one of the largest conglomerates in the Philippines, with a strong market position in energy and financial services.
Description
One of the Philippines' largest conglomerates, with key holdings in power, banking, food, and infrastructure.
Leadership
Governance
Held through Aboitiz & Company, the family's private holding firm. Key entities include Aboitiz Power, Union Bank, and Pilmico. Decision-making is centralized among senior family members and professional managers, with the Aboitiz Equity Ventures board overseeing public-listed units.
Succession
The fourth generation is now leading, with Sabin Aboitiz as CEO of Aboitiz Equity Ventures. Succession plans involve grooming younger family members through executive roles, with a gradual transition from the third generation.
Public-Sector Context
Close ties with Philippine political and regulatory bodies, particularly in energy and banking sectors. Influence through lobbying and policy engagement. Risk factors include regulatory changes in power pricing and banking regulations.