BIZ BUZZ: Fil-Am takes charge of Bain & Co.
Bain & Co., a large international consulting firm spread across 40 countries, has recently been running into some good fortune: double-digit growth and “rapid development” of its services, particularly on the digital side.
For a company that has been existing for more than half a century, it seems not an easy feat, especially with a constantly changing clientele.
This now begs the question: Who’s in charge?
Well, for the past six years, it has been Filipino-American Manny Maceda, who was Bain’s worldwide managing partner and CEO from 2018.
After Maceda’s stint, during which Bain saw “a period of accelerated expansion and investment,” he was appointed chair of the management consulting firm.
“Under Manny’s leadership, Bain saw an extended run of double-digit growth and rapid development of the range and scale of its capabilities in serving our clients,” Christophe de Vusser, current Bain president and CEO, said in a statement on Monday.
Maceda holds an M.S. in Management from MIT Sloan School of Management, a B.S. in Chemical Engineering (magna cum laude) from Illinois Institute of Technology, and an honorary Doctor of Business Administration from De La Salle University.
During his leadership, Bain’s team doubled in size and launched new technology, including artificial intelligence-related services.
Bain also credits Maceda, son of the late Sen. Ernesto Maceda, for the company being recognized as the Best-led US Company and the 17th Best Place to Work by job search platform Glassdoor.
Maceda also went beyond Bain and straight into sustainability and social impact: in 2024, the company invested more than $1.1 billion in pro bono consulting work, fulfilling one of Maceda’s goals for the company.
Perhaps it will be even bigger this time around. —Meg J. Adonis
Ferrari sales revving up
Even the cheapest of these engineering marvels are the epitome of power, precision, and performance costs more than most Filipinos’ homes.
But that has not stopped tycoon Ramon S. Ang’s Velocita Motors from selling more of these Ferrari supercars, even amid challenging economic conditions that have prompted the majority of Filipinos to scale down on their discretionary spending.
Velocita Motors general manager Japheth Castillo tells Biz Buzz that 16 units of these luxury vehicles with the famous prancing horse logo were sold last year. Turning out to be the best-seller was the 296 GTB hybrid, which the Maranello-based company said represented a revolution, combining a new V6 engine with a plug-in electric motor.
This year, Velocita Motors hopes to sell even more of these eight-figure vehicles, as they have already placed an order for some 20 more units.
Velocita Motors already kicked off the year with the unveiling of the 12Cilindri, which will sell for a minimum of P43.9 million each. Another four models are expected to follow throughout 2025, which should bolster Velocita Motors’ chances of topping the 2024 sales performance.
The only question now is whether the Philippines will get the allocation. As for buyers, apparently, they are already waiting in the wings, ready to get their hands on their dream machine. —Tina Arceo-Dumlao
