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Manila Bulletin devider Business devider Banking & Finance devider Maharlika taps veteran banker Stephen CuUnjieng for board

Maharlika taps veteran banker Stephen CuUnjieng for board

Published Aug 26, 2025 06:19 pm
Stephen CuUnjieng
Stephen CuUnjieng
Two-year-old Maharlika Investment Corp. (MIC) has appointed veteran investment banker Stephen Anthony T. CuUnjieng to its board to oversee investment strategy, evaluation, and approvals.
“With deep experience across capital markets, mergers and acquisitions, private equity, venture capital, real estate, and fintech, he brings global perspective and strategic insight to help MIC’s mission to responsibly grow and manage the MIF [Maharlika Investment Fund] for long-term national benefit,” the Philippine sovereign wealth fund manager said.
According to the fund’s website, CuUnjieng serves as an independent director and chairs Maharlika’s investment committee. He has advised and raised capital for several of the country’s top billionaires and major regional firms.
MIC said CuUnjieng’s extensive background in capital markets, private equity, real estate, fintech, and corporate governance will help steer the fund’s long-term growth. He has over 35 years of leadership experience in global financial institutions across Asia, the United States (US), and Europe.
As investment committee chair, CuUnjieng leads the development and execution of MIC’s strategies, overseeing proposal evaluations, portfolio performance, and risk management.
CuUnjieng, who is a Wharton School graduate, exited investment banking in 2022 after 13 years at New York-based Evercore, where he became chairman and CEO of Evercore Asia and later served as senior adviser.
He also served on the Wharton School’s Asia Advisory Board from 2015 to 2024.
CuUnjieng also held senior roles at Macquarie Capital, Merrill Lynch, and Salomon Brothers, and served on the boards of global and Philippine institutions, including Century Pacific Food, First Philippine Holdings, and the New York Philharmonic’s International Board.
CuUnjieng joins the nine-member board of the state-run firm alongside MIC President and CEO Rafael Jose Consing Jr., a former investment banker and head of the MIF.
The board also includes Department of Finance (DOF) Secretary Ralph Recto as chairman, the executives of Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP), and independent directors German Lichauco II and Roman Felipe Reyes.
To date, MIC has invested ₱19.7 billion in National Grid Corporation of the Philippines (NGCP), giving it a 20-percent stake in the state-run power grid operator. It has also sealed a strategic partnership with Thailand’s Charoen Pokphand Group Co. Ltd. for investments in agriculture and food production, digital innovation, and sustainable energy.

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Maharlika Investemnt Corp. (MIC)
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