about ayala corporation corporate governance financial performance investor relations contact us > history      > mission      > business interests      > business partners      > leadership      > our brand      1695 Antonio Fernandez de Roxas of Acapulco, pilot of the galleon San José, decides to stay in the Philippines mid-1800s Trade activities with Europe increases and the country begins to feel the initial impact of industrialization 1834 The Philippines is opened up to foreign trade Domingo Roxas, descendant of Antonio Fernandez de Roxas, and Antonio de Ayala, nephew of Don José Segui (Archbishop of Manila) who has just settled in Manila, establish Casa Roxas to engage in agriculture (sugar, coffee, cotton, and indigo), manufacturing (liquors, castings, and gun power), trading, and mining. 1842 Don Domingo, 60, is arrested for the third time and confined to Fort Santiago for almost a year before his daughter, Margarita, sails to Spain to secure authority from Queen Isabel II to free her father. She is successful but her father dies before she returns to Manila in 1943 1843 Doņa Margarita, assumes control of the company combining business and civic work; she founds the Colegio de la Concordia (a school for girls that still exists) 1844 Doņa Margarita marries Don Antonio 1844, consolidating the partnership 1851 Don Domingo's son, José Bonifacio, buys the 1,650-ha Hacienda Makati Banco Espaņol-Filipino de Isabel II, now known as Bank of the Philippine Islands, is founded by Royal Decree of Queen Isabel II of Spain to become the first private commercial bank in the Philippines and Southeast Asia; Don Antonio becomes a director and one of two auditors of the bank 1852 BPI issues the country's first currency notes. It held this exclusive privilege until 1942 1864 Don José Bonifacio pulls out of the partnership to go into business for himself; Doņa Margarita, her other brother Mariano, and her husband form Roxas Hermanos 1868 Don Mariano dies; the company changes its name to Casa Ayala 1869 Doņa Margarita dies; Don Antonio runs the company single-handedly for the next seven years 1870 Suez Canal opens, cutting travel time to and from Spain from three months to 40 days 1876 Don Antonio dies and his daughters Camila, Carmen, and Trinidad inherit the company; the firm becomes Ayala y Compania; Doņa Carmen and Trinidad's husbands, Don Pedro and Jacobo Zobel Zangroniz, respectively, are named capitalist partners; they manage and continue to diversify the company (One of Don Jacobo and Doņa Trinidad's children, Enrique Zobel de Ayala, later marries his first cousin Consuelo, the daughter of Doņa Carmen. Among their grandchildren are Enrique Zobel and Jaime Zobel de Ayala.) Ayala y Compaņia participates in the construction of two bridges over the Pasig River, the Colgante and, with the Eiffel company, Ayala Bridge. 1889 Don Jacobo introduces the first tramcar service in the country Ayala y Cia finances the 19th-century Manila's telephone system and electric power utility 1890 Don Jacobo is elected a director of Banco Espaņol-Filipino 1896 Don Jacobo dies and, with Don Pedro in Europe, Doņa Trinidad divests some properties and delegates management of others, she sells the tramcar services and the company's interests in pharmaceutical and invested in marketable securities in hotels and trade which boomed after the Filipino-American War and WWI, respectively. She increased family holdings in BPI, bought into Hong Kong & Shanghai Bank, and invested in Honk Kong real estate. Fernando Zobel, eldest son of Don Pedro and Doņa Trinidad, supports Gen. Emilio Aguinaldo's struggle for independence 1897 BPI opens it first branch in Iloilo, introducing branch banking to the country 1898 Carriedo Waterworks, Manila's first community water system, is built Ayala y Compaņia enters real estate development 1910 Don Fernando becomes an industrial partner in the company 1912 Don Pedro dies in Paris; Doņa Carmen manages his estate which includes the newly incorporated Central Azucarera de Calatagan. 1914 The Roxases give up their interests in Ayala y Compaņia to Doņa Trinidad Hacienda San Pedro de Makati is given to the children of Enrique Zobel (second son of Don Pedro and Doņa Trinidad) Jacobo, Alfonso, and Mercedes Zobel y Roxas 1918 Doņa Trinidad dies; Dons Enrique and Fernando assume the firm's management; they establish the first ceramic factory in the country 1924 Destileria de Ayala is sold to Carlos Palanca who renames it La Tondeņa 1925 Don Fernando retires to Spain leaving Don Enrique to manage the firm through the Depression 1929 Don Enrique's children Jacobo, Alfonso, and Mercedes, become partners in the firm bringing with them the Hacienda San Pedro de Makati and strengthening the firm's involvement in insurance and finance; only Alfonso remains in senior management 1930s Ayala y Compaņia develops its first subdivision, in Singalong, Manila 1931 Doņa Mercedes marries Joseph McMicking, Jr. After WWII, Don Alfonso Zobel de Ayala and Joseph McMicking Jr. (husband of Doņa Mercedes), consolidates the company's investments and focus on real estate development They transform 930 hectares of the original Hacienda Makati, starting with Forbes Park, into an integrated residential and business community under a 25-year controlled development program Asia's showcase of urban development 38 ha are set aside for a regional shopping center, now known as Ayala Center 1933 Filipinas Life Assurance Company is founded as a subsidiary of Filipinas Compaņia de Seguros, a company established in 1913 by Don Antonio Melian 1948 Makati's population is 38,000 1950s Makati's municipal income is P100,000 1952 - 62 Prime residential communities are developed in Makati San Lorenzo Village is developed Bel Air Village is developed Urdaneta Village is developed San Miguel Village is developed Magallanes and Dasmariņas Villages are developed Filipinas Foundation Inc., the Philippines' first corporate foundation, is established to provide scholarships in technical and vocation education, research, and the arts Dormant during WWII, Filipinas Life Assurance Company is reactivated by Col. J. R. McMicking to take over the industrial life insurance portfolio from Insular Life 1963 FGU Insurance Company is incorporated as a descendant of Filipinas Compania de Seguros, whose corporate life expired after 50 years of existence 1968 Ayala y Compaņia becomes a corporation 1971 Universal Insurance and Indemnity Company is reorganized from a direct-writing company into a professional company, Universal Reinsurance Corporation 1972 Makati's municipal income is P50 million 1974 Ayala Corporation invests in Globe-Mackay Cable & Radio Corporation, established in 1933 and heir to the Philippine Press Wireless founded in the commonwealth era to advocate independence 1976 The public and employees are allowed to own equity in Ayala Corporation; Mitsubishi Corporation of Japan becomes a significant minority stockholder Ayala Corporation expands and intensifies its land development activities, diversified with the help of partners, developed international operations, and divested non-essential investments 1980 Integrated Microelectronics Inc. is incorporated and operates, initially, in assembling and packing microchips 1980s Filipinas Life Insurance Company becomes a multi-line insurance company 1981 Ayala Corporation buys a majority equity position in Pure Foods Corporation (processed meats, hogs), a multi-food company established in 1956, and forms the Ayala Agricultural Development Corporation (hybrid corn, distributing seeds to farmers) 1983 Pure Foods starts poultry (broilers) and livestock operations BPI sets up the country's first electronic banking system 1986 Ayala Corporation supports the people's cause that led to EDSA FGU becomes one of the first computerized non-life operations with an on-line inquiry facility in the country 1988 Ayala Corporation spins off its Real Estate Division to form Ayala Land Inc., an independent subsidiary Ayala Museum is built to bring Philippine history and art to Makati 1990 Filipinas Life Insurance Company changes its name to Ayala Life Assurance Incorporated and becomes a full-service financial institution Filipinas Foundation changes its name to Ayala Foundation and expands the reach of its programs 1990s Ayala acquires 661 ha in Alabang, Muntinlupa, and develops it into a self-contained residential community known as Ayala Alabang Ayala Corporation and Singapore Telecoms International pool resources to boost Globe's capabilities MRT 1996 Filipinas Heritage Library, an electronic research library on Filipino history and culture, is inaugurated as the Ayala Group's centennial gift to the Filipino people Honda, Isuzu 1997 The Ayala Group sets up the Manila Water Company to upgrade water service in the east zone of Metro Manila Pure Foods acquired exclusive rights to develop the popular Burger King chain in the Philippines; PhilKing Restaurants Development Corporation, in which Pure Foods has a 49% stake, will manage the franchise 1998 The joint venture Purefoods-Hormel Co. is formed 1999 Ayala International Pte Ltd purchased 82.3% of Singapore-listed TLB Land Embarks on first e-commerce initiative, Ayala eCenter 2000 BPI completes merger with Far East Bank and Trust Company Completes transfer of ownership of insurance companies to BPI to reposition the bank as a fully integrated financial services company iAyala is incorporated to be the catalyst to the Group in identifying and building new Internet-driven businesses Completes transfer of real estate investment activities to Ayala International Holdings Limited (formerly TLB) The joint venture Pillsbury Purefoods Co. commences operations Philippine Nutrition Technologies, the joint venture with Taiwan's Great Wall, starts operations 2001 Globe becomes a 100% owner of Isla Communications Company Pure Foods Corporation is sold to San Miguel Corporation 2002 Created AC Capital Ayala Land signed an agreement for the joint acquisition of a controlling stake in Fort Bonifacio  IMI merged with subsidiary Electronics Assemblies, Inc. 2003 BPI signed MOA for merger of Universal Reinsurance Corporation with Malayan Reinsurance Corporation Globe relaunched wirleine services under Innove Communications, Inc. 2004 AC successfully issued a P7 B bond, the biggest issue for a domestic corporate name ever Globe launched breakthrough m-commerce service G-Cash MWC laid the groundwork for its initial public offering scheduled in March 2005 AFI inaugurated new Ayala Museum in commemoration of Ayala's 170th anniversary
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