Event Report

The Legal 500 was delighted to host the GC Summit Philippines 2023, its first event in the country since 2019. With over 180 attendees, eight sponsors and over 30 expert panellists, comprising the very top legal talent in the country, the event became one of the engaging summits The Legal 500 has ever produced.

Hosted at the New World Makati’s Ballroom, the event kicked off with a welcome address by Francisco Castro, The Legal 500’s editorial lead for the summit, followed by keynote speaker, director of legal services, regulatory and compliance operations at Accenture, Miscen Disederio-Dime, who set the tone for proceedings, by providing some emotional and inspiring opening remarks.

Our first of nine sessions then followed, titled ‘Digitization, disruption, and the legal department of the future’, which discussed the role of in-house counsel in a future that will be more technological and disruptive. Moderated by Jay-r C. Ipac, partner at DivinaLaw, the panel had the participation of Glenn Sotto, General Counsel at TransUnion HongKong, Dawn Chua, Regional Privacy Counsel at Cognizant, Jose Sutton Belarmino II, Director of Global Privacy (EMEA Region) at Marriott International and Kristian Nico Calugay Acosta, Legal Manager at Golden ABC.

Following this, a very meaningful topic was discussed on the second panel session of the day. In association with SyCip Salazar Hernandez & Gatmaitan and titled ‘It’s Not Easy Being Green: Challenges and Outlook of Sustainability Financing in an ESG-Conscious World’, the panel discussed the importance of implementing greater sustainability strategies within companies. The session was moderated by Bhong Paulo A. Macasaet, Partner at SyCip Salazar Hernandez & Gatmaitan, and had as speakers, Julian Chenoweth, Assistant General Counsel, Asian Development Bank, Jo Ann Eala, Sustainability Officer at Bank of the Philippine Islands and Christian Gerard Castillo, Counsel at ACEN. This session was particularly well-received by the audience, as ESG is clearly an issue that requires much discussion and policy implementation in the Philippines.

After a coffee break, we were back with Cruz Marcelo & Tenefrancia’s panel session titled ‘The evolution of the Fintech market and climate in the Philippines’. The session was led by two partners at Cruz Marcelo & Tenefrancia, Fernand Joseph D. Miranda and Jerome D. Canlas, and had the participation of Bridget Rose M. Mesina-Romero, Officer-in-Charge at Bangko Sentral ng Pilipinas, Marian Vanslembrouck, Assistant General Counsel at Enjin and Carlos Garcia, Head of Legal at PDAX (Philippines Digital Asset Exchange). This session discussed the development and importance of this sector to the Philippines economy, along with what it needs to preserve such a remarkable expansion, for the future. Our speakers, experts from within the industry, discussed how Fintech can guarantee both business security, but also achieve the country’s development goals.

Our fourth panel of the day, in association with Romulo Mabanta Buenaventura Sayoc & De Los Angeles, was titled ‘Capital Markets in the Philippines Beyond the Pandemic: Changing Regulations and Market Trends, and Market Response to the Changes’. Moderated by Cynthia Roxas-Del Castillo, Senior Partner at Romulo Mabanta Buenaventura Sayoc & De Los Angeles, the panel had the participation of Mike Garcia, Partner at Romulo Mabanta Buenaventura Sayoc & De Los Angeles, Roel Refran, Chief Operating Officer at Philippines Stock Exchange and Solomon M. Hermosura, Chief Legal Officer at Ayala Group. With a brilliant discussion on how capital markets have changed since the pandemic, the highlight of the session was Roel Refran’s presentation on the PSE’s strategy for the future, which featured an extremely in-depth slideshow to go along with it.

After a well-deserved lunch break, where attendees and speakers had some time to discuss some of the outstanding ideas presented so far, the event resumed with Gorricets Africa Cauton & Saavedra’s panel session titled ‘2023 Philippines M&A: Trends and Opportunities. Moderating the session was Mark S. Gorriceta, Managing Partner at Gorriceta Africa Cauton & Saavedra, which had the contribution of Gabriel Lim, senior vice president and head of corporate finance at BDO Capital & Investment Corporation, Mary Jade T. Roxas-Divinagracia, Managing Partner, Deals and Corporate Finance at PwC Philippines, Catherine Marie Drilon-Gancayco, Director, Corporate Legal at JG Summit Holdings and Solomon M. Hermosura, Chief Legal Officer at Ayala Group. Feedback from attendees clearly predicts that 2023 will be an important year for M&A in the Philippines, and the opportunity to hear such expert panel on the topic was crucial for their development on the matter.

Following this, a fireside chat with Milbank partners James Grandolfo and Paul Perry, titled ‘Key practice points in the regulatory process for international capital markets transactions involving Philippine issuers’, where they had a conversation with The Legal 500’s Francisco Castro, and raised some interesting points on the current situation of international capital markets in the Philippines. In particular, what needs to be changed within the country’s legal framework on capital markets to, ultimately, attract more international investors.

Subsequently, a very captivating presentation by Jennifer T. Ong, partner at SPCMB Law Offices, titled ‘Public-Private Partnerships as a strategic mode for project development in the Philippines. Indeed, a very interesting topic on public-private partnerships, an issue the firm is highly focussing on, at the moment.

After the second coffee break of the day, and the last break before the summit’s ending, DivinaLaw came back again on stage, represented by its Senior Partner, Estrella C. Elamparo, who made a presentation titled ‘Crisis management: prevention, response and reaction. How to manage legal risks in a time of crisis’. An insightful exposition, that stood out for its analysis of unique scenarios on a topic – crisis management – that is of great relevance to in-house counsel, today.

Our ninth and last session of the day, was hosted by ACCRALAW, with a panel discussion titled ‘Why Should I Care About Data Privacy and Protection? – a Forum on Data Privacy and Protection’. The session was moderated by Chrysilla P. Bautista, Partner at ACCRALAW and included two brilliant presentations made by Alex Ferdinand S. Fider, Senior Partner at ACCRALAW and Leandro Angelo Y. Aguirre, Deputy Commissioner at Philippine National Privacy Commission. This session received very positive feedback from attendees, who considered the presentations essential guides to adapting to the changing times of data privacy and protection.

Ending the event on a high note, Camille Aromas, General Counsel at Huawei provided the closing remarks, focusing on the importance of this event to in-house counsel, not only to discuss current and relevant topics for the Philippine legal community, but also to assemble them under one roof, providing networking opportunities, which in turn generate a more friendly, united and group minded in-house society.

After such a brilliant close to the event, the conversation did not end there. Guests moved to a cocktail reception where any questions that were not answered during the scheduled time could be asked and answered freely. Those in attendance also got to catch up with old friends and colleagues who they have not had a chance to network with, since in-person events were curtailed.

With such a positive response from the country’s legal community to the GC Summit Philippines 2023, presenting remarkable attendance numbers and positive feedback on the topics discussed, The Legal 500 will surely be back soon, already dedicated on planning more events in the country.

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