The Zobel de Ayala family is one of the wealthiest and oldest moneyed families in the Philippines. Members of this sprawling aristocratic family can trace their lineage and family business interests back to the mid-nineteenth century.

The seat of the current empire is the Ayala Corporation. In the early 2000s, leadership passed from Jaime Zobel de Ayala to his son, Jaime Augusto Zobel de Ayala. The first-ever Filipino winner of the prestigious Harvard Business School Alumni Achievement Award, Zobel de Ayala claims to be ‘a strong believer in the ‘implicit social contract between business and society.’

A reasonable person may wonder how Zobel de Ayala squares that belief with the Ayala Corporation’s stake in Yoma Group, whose subsidiaries regularly deal with and financially support a brutal and illegitimate junta in Myanmar through land lease payments and transactions through Yoma Bank.

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