JG Summit Holdings, Inc. is tapping a former executive of a PLDT, Inc. company to handle two of its data analytics and digital companies.
The conglomerate said in a statement Friday it appointed Elmer M. Malolos as chief executive officer of Data Analytics Ventures, Inc. (DAVI) and JG Digital Equity Ventures, Inc. (JG DEV).
In joining DAVI, Mr. Malolos is expected to create a digital rewards program for JG Summit’s consumer-oriented businesses, while in JG DEV, he is tasked to scouting for digital ventures and startups that the group can invest in to help “disrupt” the business model of its core businesses.
“Jojo’s mandate is to build cutting-edge digital enterprises founded on the group’s massive data analytics infrastructure,” JG Summit President and Chief Executive Officer Lance Y. Gokongwei was quoted as saying in the statement.
He said Mr. Malolos must lead the digital financial services business of the company to propel the expansion of users of basic banking and financial services within the JG Summit group and Robinsons Retail.
“He is also tasked to scope out digital investment opportunities that will provide long-term strategic value to the group,” Mr. Gokongwei added.
JG Summit has said it wants to invest heavily in digital technologies, noting it is a “key pillar” in shaping the future of the company. It has already invested at least $40 million in technology startups before it announced in May the formation of JG DEV, into which it is pouring $50 million.
Before being tapped for JG Summit’s data analytics and digital plans, Mr. Malolos was the advisory director of Wing (Cambodia) Ltd Specialised Bank, and helped it become the leading mobile financial services provider in Cambodia.
He is also a member of the Southeast Asia Advisory Council at Women’s World Banking, a nonprofit organization advocating for financial inclusion of low-income women in the region.
His other stops were at consultancy firm Access One Billion where he was a managing partner; data analytics firm Cignifi, Inc. as a managing director; Smart Communications, Inc. subsidiary Smart Hub, Inc. as president and chief executive officer; and PLDT and Smart as executive management consultant. — Denise A. Valdez
