This signals the sovereign wealth fund’s intent to back its strategy with world-class financial talent.
His move to MIC was first reported by InsiderPH last March.
Pivotal moment
”Bringing Stevie Cu-Unjieng onto our board is a pivotal moment for the MIC. The depth of his experience in global investment banking provides a world-class lens through which to view our own capital strategy,” Maharlika CEO Rafael “Joel” Consing said in a text message to InsiderPH on Tuesday.
“We sought him out not just for advice, but for his rigor. His role is to challenge our assumptions and ensure our approach to major investments and deal-making is truly world-class. He will make our entire leadership team sharper, and that’s a tremendous advantage,” he added.
Quick facts on Stevie CuUnjieng
• Over 35 years of leadership in investment banking, private equity, and corporate governance across Asia, the U.S., and Europe.
• He’s the former chairman and CEO of investment firm Evercore Asia.
• Previously held senior roles at Macquarie Capital, Merrill Lynch, and Salomon Brothers.
• Served on boards of major institutions, including Century Pacific Food and First Philippine Holdings Corp.
• Member of the New York Philharmonic International Board.
Role in MIC
MIC is tasked with investing state funds to earn returns that can help finance national priorities.
Its first deal was the purchase of voting preferred shares in Synergy Grid, giving it an 8 percent stake in National Grid Corp. of the Philippines and guaranteed dividends.
Last February, it signed a binding $76.4 million bridge loan deal with Makilala Mining to jumpstart early development of its copper-gold project in Kalinga.
“He brings global perspective and strategic insight to help MIC’s mission to responsibly grow and manage the MIF for long-term national benefit,” MIC said on its website.
Business sector influencer
CuUnjieng is a familiar face on ANC, known for his sharp, witty takes on business and politics in the playful Stevienomics segment with host Michelle “Mimi” Ong.
He later headlined his own show, Banker After Dark, cementing his reputation as a deal expert with a flair for television.
Maharlika needs to fill 2 more seats
MIC’s board is chaired by Finance Secretary Ralph G. Recto with Consing serving as vice chairperson and president and CEO.
Members include Lynette V. Ortiz, president and CEO of Land Bank of the Philippines; Michael O. de Jesus, president and CEO of Development Bank of the Philippines; and independent directors CuUnjieng, German Q. Lichauco II, and Roman Felipe S. Reyes.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
