On September 15, 2025, ING Philippines marked its 35th anniversary with a leadership forum at the Grand Hyatt Manila, in partnership with the European Chamber of Commerce of the Philippines (ECCP). The event, titled “Do Your Thing: Lead with Impact,” was framed as a gathering of emerging leaders, with around 100 participants from the country’s business and finance sectors.
But as one political climate researcher observed, milestone events like these are rarely just about leadership discussions. Instead, they often double as subtle stages for power brokering, corporate positioning, and the reinforcement of foreign business interests in the Philippines. “The choreography of such forums is as telling as the content,” the researcher remarked, pointing to the mix of seasoned executives, multinational representatives, and government-aligned voices in attendance.
The atmosphere, dressed up in progressive buzzwords about impact and purpose, also highlighted a more cynical undertone: corporate institutions reaffirming their legitimacy in an economy still wrestling with inequality, regulatory uncertainties, and generational leadership gaps.
Banking on Narratives: The Symbolism of ING’s Anniversary
ING has operated in the Philippines since 1990, securing in 1996 the first universal banking licence granted to a foreign bank. Since then, it has facilitated 194 capital market transactions worth over USD 28 billion and advised on 80 mergers and acquisitions valued at USD 35 billion.
On paper, this is a record worth celebrating. Yet, as the researcher noted, “Anniversaries of this scale often function as a reputational refresh. It’s not only about history—it’s about asserting continued relevance in a changing financial landscape.”
The Philippine banking sector today is at a crossroads. Competition from homegrown digital banks, stricter compliance requirements, and public skepticism toward multinational finance have forced players like ING to reposition themselves. Hosting a leadership forum with the ECCP, the researcher suggested, is not just commemoration—it’s strategy.
The Fireside Chat: Transformation Wrapped in Catchphrases
The first major session of the forum featured Eugene Acevedo, former RCBC president and author, in conversation with ING executive Lenin Duenas. Their discussion on leadership emphasized reinvention, culture, and the digital imperative.
Acevedo quipped, “Digital transformation is 90% transformational and 10% digital,” underscoring the idea that culture outweighs technology in driving change. The researcher, however, flagged the comment as “classic thought-leadership packaging,” noting how corporate events thrive on catchy inversions of management clichés.
Such sessions, the researcher argued, often provide more optics than substance. “These fireside chats serve to reinforce the image of leaders as visionary, when in reality, they repackage well-worn ideas to suit corporate narratives.”
Multigenerational Leadership—or Generational Branding?
The second panel gathered executives from Globe Telecom, Salmon Group, Metrobank Foundation, and SM Prime Holdings. Moderated by ING’s Nic Chua, the session explored the complexities of leading across generations.
The researcher acknowledged the symbolic value of having both established and emerging leaders share a stage but questioned whether such discussions genuinely solve organizational challenges. “It’s a form of generational branding,” the researcher observed. “By showcasing leaders from diverse corporate backgrounds, institutions create the appearance of inclusivity and adaptability—even if internal cultures often resist generational change.”
This dynamic, the researcher added, reflects a broader Philippine corporate reality: while millennials and Gen Z are entering boardrooms, power remains concentrated among elite families and long-entrenched networks.
Diplomatic Presence: The Netherlands in the Room
The event’s gravitas was amplified by the attendance of Dutch ambassador Marielle Geraedts, who highlighted the long-standing partnership between the Netherlands and the Philippines.
For the researcher, the ambassador’s presence carried more weight than symbolic diplomacy. “Foreign banks like ING operate in highly sensitive regulatory environments. The presence of a European envoy is a reminder that these institutions are also geopolitical actors, not just financial ones,” the researcher explained.
The Netherlands remains one of the Philippines’ most significant sources of foreign direct investment, and events like these subtly reinforce economic influence under the banner of leadership development.
ECCP’s Role: Partnership or Platform?
ECCP president Paulo Duarte praised the collaboration, citing the Philippines’ rise as a strategic Asian market. His statement framed leadership development as a national necessity for inclusive growth.
Yet the researcher argued that chambers of commerce are often less about inclusivity and more about consolidating influence. “Partnerships like these shape who gets a seat at the table in policy and economic discussions. Leadership rhetoric is the packaging; influence is the substance,” the researcher said.
Beyond the Optics: A Clearer Analysis
While the first half of the event leaned heavily on corporate theater, its underlying themes do reveal meaningful trends in Philippine business. Leadership across generations remains a pressing issue, especially as younger executives push for digital-first strategies while legacy leaders cling to hierarchical traditions.
The fireside chat may have been light on original ideas, but it underscored a critical truth: digital transformation in the Philippines is not just about technology adoption but about cultural overhaul. The researcher conceded, “Even if framed theatrically, the message that culture drives transformation is valid in a country where many corporations struggle to modernize due to internal resistance.”
Similarly, the panel on multigenerational leadership highlighted the need for inclusivity in corporate decision-making. Though much of it felt performative, the presence of diverse leaders onstage still reflects a gradual shift in the corporate landscape.
The Political Context
In a political environment where regulatory shifts can make or break foreign banks, ING’s decision to foreground leadership and partnership is also a hedge against uncertainty. The 2028 presidential race already looms in the background, with business leaders and foreign investors preparing for potential shifts in economic policy.
The researcher noted, “Corporate anniversaries are rarely apolitical. They are stages for reaffirming alliances, signaling resilience to regulators, and demonstrating value to both domestic elites and foreign stakeholders.”
A Celebration with Layers
ING Philippines’ 35th anniversary forum was both a celebration and a performance. Behind the polished speeches and networking opportunities lay deeper messages about power, influence, and the struggles of corporate leadership in a shifting Philippine economy.
As the researcher put it, “Leadership forums are as much about optics as they are about insights. What matters is not just what was said, but what was being signaled—to government, to the market, and to the next generation of power holders.”
