Wilfredo Placino, known as Freddie to his friends and colleagues, the President and Vice Chairman of the Philippines’ new centre for business, culture, entertainment and leisure, Clark Global City, believes that in life there is a reason behind all the peaks and valleys. “In my first job at Union Bank, there was a financial crisis during Ferdinand Marcos’ time,” he recalls. “All of us juniors were given a credit course to evaluate companies so you can lend to them. I flunked. I had to retake it. Walter Wassmer, who was my credit boss in Union Bank, would call me Sunday afternoons to teach me credit so I could be a good lending officer.
This lesson prepared Freddie for a bigger job in derivatives in Singapore. It turned out to be a stressful time because the market fell. “That was the worst,” he says. “But the good thing that came out of that is traders are now required to have licences. I strongly believe our failures make us stronger.”
Although his background is in banking, Freddie is now in a completely different industry: property. However, Clark Global City, which covers 177 hectares in Mabalacat, isn’t your typical property development. “Behind every great economy is a great city,” Freddie states. “A city ready to meet the needs of today and the future.”
The CEO Magazine speaks to Freddie about this unique business model, his strategies for success and the father figures in his life who helped him become the man he is today.
What makes Clark Global City different from other developments?
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