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Wisdom from Experience.

Stephen Sieh, Managing Partner

Stephen Sieh is the founder and Managing Partner of Primeiro Partners. He has been providing investment banking advice to leading companies in the United States and emerging markets for over 20 years. Prior to founding Primeiro Partners, Mr. Sieh was a Managing Director at Evercore Partners for five years, and was at Lazard for nine years. While at Evercore and Lazard, Mr. Sieh advised on over 40 engagements with transaction value totalling over $125 billion.

Mr. Sieh has extensive experience in a wide-range of corporate finance activities, including, mergers and acquisitions, capital raising and special situations. At Evercore, Mr. Sieh has advised on several significant transactions including the restructuring and sale of General Motors, the acquisition of Chrysler by Cerberus, and the sale of Bright Horizons to Bain Capital. Other transactions where Mr. Sieh has led advisory engagements include: Trico Marine Services, Parmalat/Farmland Dairies, Kaiser Aluminum, Safety-Kleen, and Loews Cineplex.

Mr. Sieh has also led several international advisory assignments including: Daewoo (Korea), Independencia (Brazil), AES Eletropaulo (Brazil), AES Sul (Brazil), TV Filme (Brazil), and Central Termica Guemes (Argentina). In the Philippines, Mr. Sieh advised Century Properties on an innovative financing transaction that won The Asset Triple A Transaction – Treasury, Trade & Risk Management Awards for having the Best Structured Trade Finance Solution in the Philippines in 2014.

Mr. Sieh received an MBA, with honors, from the Columbia University Graduate School of Business and received a B.S. degree from the Carroll School of Management Honors Program at Boston College. Mr. Sieh also regularly lectures at Harvard Business School and Columbia University Graduate School of Business.

Mr. Sieh currently resides in New York and Manila, previously lived in Brazil and Taiwan, and is also fluent in Portuguese.

Lorenzo V. Tan, Managing Partner

Lorenzo Tan is a prominent Filipino banker and former President of the Bankers Association of the Philippines, and Chairman of the Asian Bankers Association. He was the Chief Executive Officer and President of Rizal Commercial Banking Corp. (“RCBC”) from 2007 to 2016. Prior to that, he was the President and CEO of Sun Life of Canada (Philippines), Inc., the largest life insurer in the Philippines. At 40 years old, he served as President and CEO of Philippine National Bank, the 5th largest bank in the Philippines. Prior to that, at age 37, he became the youngest President of a universal bank when he led United Coconut Planters Bank. He also held senior positions in Citibank North America and Citibank Singapore.

Mr. Tan is known in the banking industry as "Mr. Turnaround" for his knack of improving the economic performances of the various financial institutions he presided over. At Philippine National Bank, he led its rehabilitation program and its return to profitability. During his tenure at RCBC, he repositioned and grew the bank to become one of the largest private universal banks in the Philippines. Mr. Tan also spearheaded several strategic and capital raising transactions for RCBC, including equity investments by Cathay Life Insurance Co. Ltd of Taiwan (Php8 billion in 2015), and by CVC Capital Partners (US$115 million in 2012), and a US$320 million bond issue led by the International Finance Corporation, which in 2015 was the largest dollar-denominated bond issuance by a Philippine bank.

He was President of the Bankers Association of the Philippines from 2013 to 2016, and represented the BAP in the ASEAN Bankers Association (ABA), composed of the national banking associations from the 10-member countries in the Association of Southeast Asian Nations (ASEAN). He led the merger of two twenty-year-old ATM networks, Megalink and Bancnet, and the merger of the Philippine Stock Exchange (PSE) and the Philippine Dealing Exchange (PDEX), the Philippines' bond and foreign exchange platform. In 2015, Tan was a recipient of the prestigious PeopleAsia "People of the Year" award. He was again honored by the magazine in 2016 when he was included in their “16 men who matter" in the Philippines list.

Mr. Tan graduated from De La Salle University with a Bachelor of Science degree in Accounting and holds a Master of Management degree from the J.L. Kellogg Graduate School of Management, Northwestern University.

Keenan S. Ugarte, Vice President

Keenan Ugarte is currently the Head of Strategic Partnerships, and has been instrumental in the development of the group. He has been with Primeiro since the beginning of 2015, and since then, has had extensive experience in commodities, renewable energy, real estate, and fintech. He is the founder of Primeiro’s commodities trading division, and since the beginning of 2016, has established partnerships with three leading regional companies.

Prior to founding the Strategic Partnerships Group, Keenan led Primeiro's renewable advisory team in advising and securing over Php7 billion in renewable energy financing in 2016. He has been involved in all phases of renewable energy development: Pre-development, Feasibility, EPC Tendering, Equity/Debt Financing, Construction and Commissioning. He continues to play a key role in the Investment Banking Group as he continues to develop the Strategic Partnerships Group.

Prior to joining Primeiro, Keenan spent three years under the Corporate Finance and Special Projects Group of Philippine Bank of Communications (“PBCom”), where he was responsible for assisting the COO and CEO with the firm’s turnaround efforts prior to its sale in 2013. During his time in PBCom, he led the development of the internet banking business, retail banking strategy, and helped seek rural banking M&A opportunities for the firm, leading to the acquisition of Rural Bank of Nagcarlan and Banco Dipolog. Prior to that, Keenan spent four years in San Francisco, California, working for Wells Fargo Securities and Vista Wealth Management. He is also a Director of Verde Pilipinas, a leading biomass trading firm based in the Philippines.

Keenan graduated from the University of San Francisco with a Bachelor of Science degree in Finance with a minor in Economics (Cum Laude). He has passed both the CFA Level I and II exams.

Eric Manuel, Vice President

Eric Manuel is the Head of Real Estate at Primeiro Partners. For over 15 years, he has been providing strategic advisory and transaction services to investor/occupier clients in the Commercial/Corporate Real Estate and Financial Services industries. He has been involved in various phases of real estate in several continents - development, construction financing, asset management, leasing, acquisition /dispositions, and capital restructuring - and all asset classes - office, retail, residential, land, and hotel.

Prior to Primeiro Partners, Mr. Manuel oversaw the Business Development & Marketing teams of Daiichi Properties, a leading office, residential, and industrial developer. His role was to establish and maintain key local and global relationships with tenants, investors, and strategic partners. Additionally, he pioneered and led the Capital Markets, Consultancy & Research departments of Cushman & Wakefield Philippines, with an enviable client roster which included corporate occupiers, institutional investors and developers. Overall, his previous clients are leading global and local organizations requiring complex occupancy, investment and debt advisory services totaling over $15 billion.

Mr. Manuel is a recognized speaker/panelist across Asia Pacific, on topics such as Trends in Philippine Real Estate, SE Asia Investments, Technology & Commercial RE, Design Thinking in Office Development, and Future of Work. He has also written several publications on Real Estate Finance, Basel III and Impact on Philippine RE, Currency Impacts on BPO Sector, and Next-Generation Office Buildings.

Mr. Manuel received an MSc in Local Economic Development, with honors, from the London School of Economics & Political Science and received a B.A. in Economics, graduating Summa Cum Laude, from SUNY Binghamton. Mr. Manuel also lectures on Real Estate & Investment topics across Asia Pacific for prestigious organizations such as Asia Pacific Real Estate Association (APREA), CoreNet, and Asian Institute of Management (AIM).

Mr. Manuel currently resides in Manila, previously lived in New York and San Francisco.

Tony Alvarez II, Board of Advisors

Tony Alvarez II, is the Co-CEO and Managing Director of Alvarez & Marsal (A&M). In 1983, Mr. Alvarez co-founded Alvarez & Marsal (A&M), the leading independent global professional services firm, which has since grown from three employees to nearly 1,300 professionals around the world today. A&M operates in nearly 25 cities across North America, with offices in major markets in 13 countries on four continents. A&M offers services including restructuring and performance improvement (with dedicated industry specializations in the healthcare, public sector, real estate and financial services sectors), in addition to business advisory services including tax advisory, business consulting, and transaction advisory (providing financial, tax and operational due diligence), among others.

The firm has served notable clients such as HealthSouth, Spiegel, Movie Gallery, Amerco U-Haul, Cluett International and Republic Health, among others.

Mr. Alvarez has personally assisted clients, including Timex, Western Union, Pharmor, Resorts International, Warnaco, and most recently, Interstate Bakeries. He has served as a member of the Board of Directors for Warnaco, American Household and Resorts International.

Prior to founding A&M, Mr. Alvarez spent 12 years at Coopers & Lybrand, where he was a Partner and Head of the Restructuring Advisory practice in New York. Prior to founding Alvarez & Marsal with co-CEO, Bryan Marsal, he spent two years at Norton Simon, a consumer products conglomerate, which included operating companies such as Avis, Hunt Wesson, Max Factor and others.

Mr. Alvarez received an undergraduate degree in business from De La Salle College in the Philippines and a master’s degree in business administration from New York University, Stern School of Business.

Francis Ed. Lim, Board of Advisors

Mr. Francis Lim is a Senior Partner of ACCRALAW. He is a member of the Corporate and Special Projects Department (CSPD) and the Litigation and Dispute Resolution Department (LDRD) of ACCRALAW. Mr. Lim re-joined ACCRALAW on July 5, 2010 after serving as President and CEO of the Philippine Stock Exchange (PSE) from September 15, 2004 to February 15, 2010. He is the longest serving President and CEO of the PSE. Mr. Lim is credited with several reform initiatives in the Philippine Stock Exchange. Among others, he successfully worked for the passage by Congress of several capital-market related laws, namely, Personal Equity Retirement Account Act (PERAA); Credit Investment System Act (CISA); Real Estate Investment Trust Act (REITA); Documentary Stamp Duty Exemption for secondary trading of listed stocks; and Financial Rehabilitation and Insolvency Act (FRIA).

Prior to joining the PSE in September 2004, Mr. Lim worked on several high profile transactions and cases such as the attempted hostile takeover of The Philippine Long Distance Telephone Company in 2002; the dispute relating to the initial public offering of Pilipino Telephone Company; Deustche Telekom buy-out of equity stake in Isla Communications Company, Inc.; the intra-corporate controversies relating to the Chemphil and Banco Filipino groups of companies; rehabilitation and restructuring workouts and cases involving Maynilad Water Services, Inc., RAMCAR, Bayan Telecommunications, Inc ; and the NAIA Terminal III project.

Mr. Lim is a member of both the Philippine bar and New York State bar. Mr. Lim is currently a member of the Financial Executives of the Philippines (FINEX) and Management Association of the Philippines (MAP). He is a law professor at the College of Law of the Ateneo de Manila University and the Graduate School of Law of San Beda College, and Professorial Lecturer of the Philippine Judicial Academy.

Mr. Lim graduated magna cum laude in Bachelor of Philosophy and cum laude in Bachelor of Arts from the University of Santo Tomas. He obtained his Bachelor of Laws degree (Second Honors) from the Ateneo de Manila University and his Master of Laws degree from the University of Pennsylvania, USA.

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Integrity. Independence. Intellectual Capital.

ppemail   |   63 2 887 6320 (Manila)   |   +1 212 427 9449 (New York)
12th Floor, Tower One & Exchange Plaza, 6767 Ayala Avenue, Makati City 1226 Philippines

ppemail
63 2 887 6320 (Manila)
+1 212 427 9449 (New York)
12th Floor, Tower One & Exchange Plaza
6767 Ayala Avenue, Makati City 1226 Philippines