AB Capital expanding after takeover by billionaires' group

Published October 20, 2021, 4:26 PM

by MB Business

Investment house AB Capital Group is beefing up its operations after it suddeny hulked up with the entry of some of the country’s top billionaires into its board of directors.

This comes after private investment holding firm The Campden Hill Group took control from the Gaisano family’s Vicsal Investment Inc.

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In an announcement, AB Capital said AB Capital & Investment Corporation is now chaired by Campden Hill Group Chairman Antonio Jose Periquet Jr. while billionaires Enrique K. Razon, Lance Y. Gokongwei and Christopher T. Po now sit in its board.

Razon controls global port operator International Container Terminal Services Inc. and gaming firm Bloomberry Resorts Corporation, Gokongwei heads JG Summit Holdings Inc. which is among the country’s top conglomerates, while Po chairs manufacturing firm Century Pacific Foods.

Frank S. Gaisano retains his seat in the board as Vicsal remains a minority shareholder and partner of the group. Other directors are Lamberto M. Santos Jr. and Michael Zalamea.

Zalamea also chairs the AB Capital Securities Inc. board of directors which includes Luis Miguel Aboitiz, Juan Kevin G. Belmonte, Santos, Ma. Elena L. Morris, Mariana M. Ongpin, and Ericson C. Wee.

“Please be assured that all operations will continue uninterrupted. In the meantime, stay tuned for a new, sharper and more rewarding trading experience,” the group said.

The group immediately announced that it is now hiring new equities sales agents, equity research analysts, and a deputy of research head.

The AB Capital Group is a diversified financial services institution that provides a full suite of investment services which cater to the diverse requirements of investors.

The group includes AB Capital Securities which has long been one of the Philippines’ leading stock brokerage firms with over 65 years of industry presence.

ABCSI provides brokerage services – both online and broker – assisted – as well as market research to institutional and retail clients through its online stock trading platform, traders, and research analysts.

The other member of the group is AB Capital Trust which is an independent financial institution that offers Trust products and services to individual and corporate clients with specific needs and objectives.

Although not connected to a bank, AB Capital Trust manages over P20 billion in funds and remains one of the top Trust service providers in the country.

 
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