Vincent S. Perez
Vicente "Vincent" Sanchez Pérez Jr. | |
|---|---|
| Born | May 26, 1958 Philippines |
| Occupation(s) | Banker, environmental advocate, investor |
| Years active | 1980s–present |
| Known for | Secretary of Energy of the Philippines (2001–2005) |
Vicente "Vincent" Sanchez Pérez Jr. (born May 26, 1958) is a Filipino banker, environmental advocate, and investor in renewable energy who held the position of secretary of energy in the Philippines from 2001 until 2005 during the Arroyo administration.
Early life and education
Pérez is the oldest among five siblings born to Vicente Abad Pérez Sr., a former naval officer and assistant secretary for foreign affairs, and Lucila Siongco Santiago, a dietician. His brothers and sister include a missionary sister, a brother working as an Asian equity sales banker based in New York, another brother specializing in aviation, and a fintech entrepreneur sibling. All the brothers attended Xavier School.
He earned a degree in Business Economics from the University of the Philippines in 1980, where he also served as national president of AIESEC Philippines. Following graduation, he completed an internship at New Jersey National Bank located in Trenton. In 1983, Pérez obtained his MBA in international finance from the Wharton School of Business, University of Pennsylvania.
Financial career
Upon finishing his studies at Wharton, Pérez joined Mellon Bank’s International Banking Department in Pittsburgh and completed their international credit training program. He worked as a Latin American credit analyst and managed the Mexico and Central America desk. In 1985, he transitioned to Mellon’s debt trading team, becoming a pioneer in emerging markets debt trading with an emphasis on Latin America and the Philippines.
In 1986, Pérez accepted a position at Lazard Brothers & Co. in London within their debt trading division before moving to Lazard Frères & Co. in New York in 1987 as both debt trader and investment banker. By 1994, he had risen to general partner and co-head of Lazard Frères’ Emerging Markets Group, ranking among the most senior Asian bankers on Wall Street. That same year, Global Finance recognized him as one of the 100 Emerging Markets Superstars. Subsequently, he relocated to Singapore as a founding managing director of Lazard Asia.
Pérez departed Lazard in 1997 to co-establish Next Century Partners, a private equity firm based in Singapore alongside Patrick Go, Dennis Mendiola, John Wallace, and Eduardo Martinez-Miranda. The firm invested in enterprises such as Smart Communications and Del Monte Pacific, along with semiconductor assembly businesses. Key co-investors included Soros Fund Management, Mitsui, and one of the Bass brothers from Fort Worth, Texas.
Government
In 2001, Philippine President Gloria Macapagal Arroyo invited Pérez to join her administration. He initially served briefly as undersecretary for industry at the Department of Trade and Industry and led the Board of Investments before his appointment as Energy Secretary from 2001 to 2005. During his leadership, Pérez advanced energy self-reliance by promoting clean indigenous sources and formulating a comprehensive renewable energy policy framework. He tackled recurrent power outages that impacted the economy and ensured stable oil supplies during the 2003 Iraq War through strategic energy diplomacy across Asia and the Middle East.
As chairperson of ASEAN Energy Ministers, Pérez spearheaded the ASEAN Plan of Action for Energy Cooperation (2004–2009), which committed member states to achieve at least a 10% renewable energy share in their power generation mix. He also organized the inaugural ASEAN Plus 3 (China, Japan, Korea) energy ministers meeting in 2004. After directing significant restructuring within the Philippine power sector and initiating privatization efforts for National Power Corporation’s generation assets, he stepped down in March 2005. With four years in government service, Pérez was among President Arroyo’s longest-serving economic officials and was considered the final member of her "touted trio of Wall Street-bred economic managers."
Malacañang Palace acknowledged Pérez’s "vital role in executing challenging power sector reforms," including reorganizing public energy agencies, jump-starting Napocor’s privatization process, and preventing Luzon-wide blackouts since May 2002. President Arroyo commended his efforts toward achieving energy independence by increasing reliance on clean indigenous resources such as natural gas and geothermal power starting in 2001.
Return to Private Sector
After transitioning back to the private sector in 2005, Pérez concentrated his efforts on renewable energy, energy consultancy, and environmental preservation. That same year, he was recognized as a World Fellow at Yale University, where he delivered lectures on renewable energy development in emerging economies. In 2006, together with former officials Jocot de Dios and Lea Ricolcol, Pérez co-established Merritt Partners, a firm providing energy advisory services. He also became a minority stakeholder in NorthWind, Southeast Asia’s inaugural wind farm, marking the beginning of a ten-year investment journey in renewable energy. Two years later, in 2008, Pérez co-founded Alternergy, a company focused on wind and run-of-the-river hydroelectric projects, collaborating with Equis Funds to develop the Pililla Wind Farm. In 2013, he further expanded his renewable portfolio by co-founding Solar Pacific, a solar photovoltaic development company. Beyond his business ventures, Pérez served as Special Presidential Envoy for economic diplomacy during President Arroyo’s administration and was appointed vice chairman of the National Renewable Energy Board in 2009.
On March 19, 2024, the Department of Energy awarded Alternergy Holding Corp., under Pérez’s leadership, a “Certificate of Confirmation of Commerciality” for its wind projects located in Alabat and Tanay. Prior to this, on December 20, 2023, Alternergy successfully raised P1.45 billion from the Government Service Insurance System through a private placement involving preferred shares, increasing its equity capital to P3 billion. The company had also generated P1.62 billion from its initial public offering conducted in March 2023.
Independent Business Endeavors
Pérez holds independent directorships across various companies in Australia, the Philippines, and Singapore, including notable firms such as ST Telemedia and Banco de Oro. He contributes his expertise as a member of advisory boards for organizations like the Bhutan Foundation, New Zealand Trade and Enterprise, the Geneva-based Pictet Clean Energy Fund, and the Yale Center for Business and the Environment.
Together with his brother Miguel, Pérez has invested substantially in ventures based in Palawan. They founded Stellar Sea Farms to cultivate red tilapia using sea cage aquaculture in Culion. Their previous ownership included Puerco Island; currently, they possess Dilumacad (also known as Helicopter Island) situated in El Nido. In 2000, Pérez co-initiated Asian Conservation Company alongside conservation experts to acquire El Nido Resorts. Managed jointly with Next Century Partners, they transformed it into an acclaimed eco-tourism destination before divesting it to Ayala Land in 2013.
Philanthropy
Pérez’s philanthropic efforts are primarily directed toward environmental conservation causes. His involvement with the World Wide Fund for Nature (WWF) includes participation in debt-for-nature swap programs. As a founding trustee of WWF-Philippines since 1996, he remains active on its national advisory council and has held roles on the International Board of WWF as well as on boards of WWF-China and WWF-US. His support extends to marine conservation initiatives through organizations such as the Malampaya Foundation, Sikat Solar Car Challenge Foundation, Stiftung Solarenergie Foundation, and the Asian Conservation Foundation.
Publications
Pérez has authored multiple works including Chasing Moonlight, which recounts a sailing expedition; Chasing Sunsets, a compilation of 58 haiku poems inspired by his travels; and Chasing Cherry Blossoms, documenting hiking adventures in Japan shared with his brothers. He also co-published Voices from the Islands, highlighting El Nido Resorts as an example of sustainable tourism practices. Furthermore, he contributed to research on scallop populations within Palawan’s marine ecosystems.
Personal life
Pérez and his spouse, Maria Adora, divide their time between Manila and Melbourne, where they reside with their three sons and one daughter. A passionate sailor and saltwater angler, he secured victory in the Rolex China Sea Race on two occasions (1998, 2008), competing aboard the yacht Subic Centennial alongside his sailing partner Judes Echauz.