Q&A with PNB CEO Wick Veloso on Turnaround Strategy

Q&A with PNB CEO Wick Veloso on Turnaround Strategy

interviews, Q&A, Turn Around Marketing
Jose Arnulfo “Wick” Veloso joined the Philippine National Bank (PNB) as President and CEO in November 16, 2018 after heading HSBC for 23 years, serving his last post there as its first-ever Filipino CEO for the Philippines since December 2012. Stock price of PNB has reversed its struggling trends the last 6 years and has gained over US$500 million within 6 months from his appointment as CEO. In this interview, he shares his turnaround strategy for PNB. Q1: What motivated you to join PNB – considering the move entailed a major switch from an international bank to a century-old bank? A1: I have come to a point in my banking career where I want to play a more active role and help in nation building, in the crafting of bank…
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Q&A with PNB Chair Flor Tarriela on Turning Around a Heritage Brand

Q&A with PNB Chair Flor Tarriela on Turning Around a Heritage Brand

interviews, Q&A, Turn Around Marketing
PNB has its share of ups and downs - from being the de facto central bank before Central Bank was created in 1949 to losing P13 billion in 1999 and non-performing loans of P45 billion (51%) in 2002 to the takeover of Mr. Lucio Tan and repaying PDIC rehabilitation loan 4 years ahead of its due date, PNB is now back as the 4th biggest domestic bank in assets and capital with BB+ credit rating. PNB Chair Flor Tarriela, a former Finance Undersecretary and the first Filipina Vice President of Citibank, generously shares her insights about PNB's transformation and strategies on its 100th year this year. Q1: What were the keys to PNB's turnaround and stability? A: PEOPLE. The key to the turnaround story of PNB are the right people…
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Q&A with Kamuning Bakery Owner Wilson Lee Flores on Reviving a Filipino Heritage Bakery (Part 1)

Q&A with Kamuning Bakery Owner Wilson Lee Flores on Reviving a Filipino Heritage Bakery (Part 1)

interviews, Q&A, Turn Around Marketing
Q1: You are known to be in real estate. How did you get into the bakery business? A: I started out in real estate sales due to lack of capital, I’m now still in the real estate business both as a licensed broker and now also as realty investor. Yes, it was through a December 2013 real estate deal that I had fortuitously entered into the bakery business. I acquired Kamuning Bakery because I bought the land where it’s been located since 1939, and I just decided to resuscitate or revive this old business. Q2: You mentioned starting out with no capital, how did you go into the real estate business? A: Although I’m from a family with a long tradition of entrepreneurship in the lumber and sawmill industry since…
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Q&A with Sun Life Philippines CEO Riza Mantaring on Turning Around a Company

Q&A with Sun Life Philippines CEO Riza Mantaring on Turning Around a Company

interviews, Q&A, Turn Around Marketing
Q1: When you took over the role of CEO for Sun Life Philippines in 2009, total premiums was declining from P13.1 billion in 2007 to P8.5 billion in 2008. By 2014, Sun Life has become the leading life insurance provider in the Philippines. What did you do to turnaround the business? A: It wasn't just Sun Life whose premiums declined but the whole industry's, due to the effects of the global financial crisis. The insurance industry in general had been quite sluggish in the decade from 2000-2009, except for a spike in premiums in 2007. Number of agents industry-wide had declined, and new business growth was very slow with industry CAGR of 1.1%. Against this backdrop we were given a very aggressive target for 2015 net income, and in analyzing…
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Q&A with Marketing Guru Pet Bautista on Turning Around Brands

Q&A with Marketing Guru Pet Bautista on Turning Around Brands

interviews, Q&A, Turn Around Marketing
Q1: You have been president or managing director of San Miguel Brewery, Kraft, URC and many other companies, then you shifted to the government as president of Philippine International Trading Corporation (PITC) - Pharma.   I understand you were able to turnaround PITC, ("a consistently profit-challenged" government company) within your 14-month stay. What issues plagued PITC and how did you turnaround PITC? A: PITC Pharma, or PPI is the only government owned pharmaceutical company which formerly owned Botika ng Bayan (BNB), which spearheaded the drive to promote and encourage the use of generic pharmaceutical products at low prices. Unfortunately with the entry of more pharmacies that focused primarily on generics, like the Generics Pharmacy, Generika, even Watsons; with their advertising budgets (PPI had none), consumers went to these competitors instead.…
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Q&A with Rustan’s Donnie Tantoco III on Working with Loved Ones and Turning Around A Heritage Brand

Q&A with Rustan’s Donnie Tantoco III on Working with Loved Ones and Turning Around A Heritage Brand

interviews, Q&A, Turn Around Marketing
Q1: You put up the first hypermarket in the Philippines, Shopwise, and while most supermarkets just provided express lanes for those buying a few pieces, Shopwise created the exclusive Elite lane designed to save time as well as reward volume buyers with free snacks. You also have price checkers in skateboard. I really like these ideas, can you share with our readers the thought process behind these ideas? We were the first retailer to introduce a mass-based loyalty program in the country known as the WiseCard.  We found inspiration in many successful loyalty programs in the world, most notably Tesco’s.   We learned that the value of any loyalty program is in the wealth of information you can get on customer buying behavior.    We quickly developed our own loyalty data-mining tool,…
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