By Emmie V. Abadilla
“Mr. Turnaround,” Lorenzo V. Tan, is the new President and Chief Executive Officer (CEO) of the House of Investments, Inc. (HI), the holding and management firm of the Yuchengco Group of Companies (YGC).
He was the former President-CEO of Rizal Commercial Banking Corp.
HI controls one of the country’s largest heavy construction and infrastructure companies (EEI). Its Education group covers 58,000 students in over 6 Mapua campuses, APEC Schools, National Teachers College, University of Nueva Caceres (IPeople).
It’s into Renewable Energy, with 138-MW capacity for wind, solar and geothermal power via Petroenergy Resources Corp. It is also engaged in properties via Manila Memorial Park and RCBC Realty, in pharmaceuticals via HI-EISAI Pharmaceutical, Inc., in automobile, via Honda and Isuzu manufacturing and distribution, plus other services, from the trading of consumer goods to rendering of various services to consumers.
The new man at HI’s helm was once the youngest president of a universal bank in the Philippines at the age of 37. He earned the moniker “Mr. Turnaround” because he improved the performance of every organization he handled in the past.
Tan served as Managing Director in Primeiro Partners, a leading independent investment bank focused in the Asia Pacific Region. He also served as President of the Bankers Association of the Philippines (BAP) and Chairman of the Asian Bankers Association (ABA). He was President and CEO of Sunlife Financial Phils., PNB and UCPB.
He started his banking career in Citibank New York, Los Angeles and Singapore. He graduated from De La Salle University major in accounting and has an MBA from the Kellogg Graduate School of Management, Northwestern University. He is a Certified Public Accountant (CPA) both in the Philippines and in USA.
Tan officially took office at HI on Friday (July 19, 2019) and will continue to steer House of Investment, Inc., honoring the legacy of its outgoing President, Medel Nera, who strengthened and diversified the company’s portfolio, enabling HI operations to grow into 16 significant subsidiaries, associates and divisions.