InsiderPH sat down with Citi Philippines chief Paul Favila to talk about a bank—and a banker—reinventing themselves. Citi has shed the consumer business that made it a household name, while Favila has spent decades building an identity distinct from his father, former Trade Secretary Peter Favila. Their stories have something in common: formidable legacies, followed by reinvention.
The criticism that has followed Cruz since he took over the Ayala conglomerate’s telecommunications unit is that he is, at heart, still an FMCG man. "FMCG" is business shorthand for “fast moving consumer goods”, in reference to his long and successful career selling soap and shampoo — a very different industry from telecommunications. And the surprising thing is that he agrees.
For decades, Philippine education policy has revolved around familiar arguments: budgets, curriculum, teacher salaries, class sizes, governance and learning outcomes. These are important debates, but Angara appears to be making a different argument: The country's education crisis, in his telling, is also an execution crisis.