A former banker, Philo Alto now runs Asia Value Advisors, a consultancy and advisory body helping philanthropic entrepreneurs utilise their resources more effectively.
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How do you make a difference in Hong Kong?
Well, in my professional role, I basically advise people and organisations on to how to invest for a sustainable future, but from a philanthropic stand point. We help them to “do good while doing well.” I came from a poor background in the Philippines before leaving to study in the US, so I have seen things from both sides. As a result, I wanted to see how I could make a living in Hong Kong, and also how I could contribute and give back to society. I set up Asia Value Advisors for just that purpose. We now work with a variety of clients, including the Rockefeller Foundation and the Hong Kong Jockey Club. We help them redeploy their resources more effectively and efficiently.
We also help philanthropists leverage their money, networks and connections to address pressing social issues and provide a degree of added value. Many of these issues relate to things like ecology, changing landscapes and waste management. We do not charge for the advice we provide. This way the funders know that we are unbiased and have no specific or hidden agenda. It is heartening to see that the millennial generation is shunning the “learn, earn and return” model and are stepping up to the plate and getting involved at a much early stage. They also want to work with products that make a positive social impact and we also help to facilitate that.
Overall, I’d say, for me, not doing good is not an option. The world is facing too many problems right now – climate change, radical fundamentalism, terrorist attacks, aging demographics, urbanisation and its related social issues, as well as the expanding gap between the rich and the poor. We have to all come together and work as a team to create workable solutions to these problems.
Korea or Japan?
Japan, I think, has greater cultural variation between its cities. You can even get a definite feeling of the different historical eras just within one city. Korea doesn’t have quite the same cultural diversity or depth, except in the case of a few major landmarks. It may be that I feel like this, though, because I’ve travelled to Japan more and so have a greater number of reference points. I would, however, say that, within the framework of the work that I do, Korea is much more aggressive when it comes to promoting a more sustainable life style. It is considered a world leader when it comes to addressing the disparity between the rich and poor, while developing a sustainable and inclusive society, especially in the Seoul metropolitan area.
Did you like school?
The short answer is yes. In fact, maybe too much. I have five university degrees, after all. In the Philippines I took two undergraduate degrees – physics and computer engineering. Then I took my first masters in industrial economics, again in the Philippines. Then I went to the Harvard Business School and later the Harvard Kennedy School, where I studied for a further two. As I came from a poor family in the Philippines, all these tuition fees came from my parents’ life savings. That’s why I went into banking. I felt personally obliged to make that money back and repay them. For me, there was no other choice. Once I had done that, I felt it was time to move on. I could then do something more meaningful with my life – the kind of thing I am doing now.
What is in your wallet right now?
I am a very pragmatic person. I only have my MasterCard and Visa credit cards, my Octopus card – which I use a lot – and just enough cash for me to be able to keep track of my spending. It is part of my upbringing that I only put in my wallet the things I need for that particular day. Most importantly, I also have a picture of my wife and kid.
What is the scariest situation you’ve ever found yourself in?
Life involves a great deal of serendipity. One time I was driving back home in the Philippines when I noticed a large truck in front of me. It was weaving from side to side of the expressway. Eventually, it veered off to the right and hit a barricade at the side of the road, before flipping over twice. The driver was thrown out of the vehicle. He was okay, but very dazed. For me, the scary part was slowing down gradually enough that the bus behind didn’t hit me, but fast enough that I didn’t crash into the over-turned truck. It reminded me that, sometimes, things are completely out of your control. Crisis management doesn’t prepare you for this sort of eventuality. There are times when you just have to rely on your wits.
What do you like to watch on TV?
Well, I find that there is not really much to watch on the TV here and so I usually go on line to iTunes or YouTube. I like documentaries, particularly those that relate to social issues or environmental issues. I especially enjoy the Animal Planet channel. Basically, I enjoy good informative programmes that I can share with my family.
What kind of TV do you really dislike?
I often find when the family is watching sitcoms, nobody is really concentrating on the programme. It just becomes background noise. That makes me uncomfortable. I feel you should either watch the TV or turn it off. I can’t really be bothered with anything that doesn’t grab my attention.
What do you find most attractive about a person?
I think that would have to be insight. I have noticed that those people who really want to make a difference and who want to get actively involved, both personally and professionally, always address the real issues with a great sense of humility and a willingness to learn. It is very easy to spot someone who’s in it to learn and for intellectual stimulation as opposed to those just there for self-aggrandisement and the thrill of seeing their name on a cheque they are donating. It is such a pleasure to work with people who are committed for all the right reasons.
Do you subscribe to a particular philosophy or religion?
While I’ve been exposed to a Catholic education system all my life, my parents also gave me an understanding of the various sciences, philosophies and other religions. I would say I am a spiritual person, but not a religious one. I have studied many of the world’s leading religions, looking at both their merits and demerits. Much of the way I currently operate is based on my study of philosophy. Another initiative I run is called the Value Institute. Here we encourage people to examine their purpose in life, as opposed to focussing on their next job or their career prospects. It asks how can they not only thrive but also improve themselves. We help them calibrate themselves. People don’t really spend enough time considering such issues.
What is the best compliment you’ve ever received?
The compliments that I cherish most are those that relate to what my work has achieved, rather than something I’ve done, particularly if it’s made an impact and changed someone’s mindset. One delegate to a Rockefeller Foundation Conference told me that, after hearing my presentation, she quit her day job, went back to grad school and was now planning to become a social entrepreneur. She has no plans to return to the banking industry. I created a mindshift, and she now measures success by what she can achieve rather than by how much money she can make. That, for me, was a wonderful compliment.
What do you like to do on Saturdays?
I like to spend time with my two-and-a-half-year-old son. I also like to take some exercise. I am not a fitness fanatic, but I do think all exercise is good. I also like to have some “me time” where I can reflect on what I’ve done, align my longer-term goals and consider what I should be doing differently. I try to make this “ego free” time. I find that ego tends to get in the way of everything. I would like to get out into nature more, but it is not that easy in Hong Kong.
What major historical event changed your life?
That would be the <I>coup d’etat<.I> in the Philippines in 1986, when Marcos was overthrown, soon after the assassination of Benigno Aquino. My father was in the same military compound as the people that were leading the coup. It was quite surreal when well over a million people rose up. They called it “people power.” It really changed my perception of things. It made me realise that, when things are not right, something has to give in order to correct the situation. It also made me realise that what is happening around you is often far larger than anything you can influence. You need to keep focused on your own personal pursuits.
What is your biggest indulgence?
I am rather a geek, so my biggest indulgence is my collection of tech gadgets. I am always rationalising to myself why I need the latest iPhone, iPad or similar gizmo. I am a huge consumer of information and love all these toys. It used to send my wife crazy, but now she just accepts it.
Can you sing?
No. My Filipino blood is obviously not strong enough. I don’t sing well. I also don’t dance very well. The creative side of me is too weak. I am more the rational, analytical type.
When did you last tell a white lie?
I don’t tell white lies but, being predominantly a sales-oriented person, I suppose I might sometimes tell what might be termed slightly premature truths. How’s that for a convoluted answer? There are times when the way you say things to people is important if you want to avoid hurting their feelings.
What would you look for in an ideal partner?
On a personal basis, I think it has to be someone who shares your life values and purpose. How you react together to achieve those shared goals may quite often vary, however. On a professional basis, you need to choose people or organisations that share your longer term values and aspirations towards a better future. While you both might have different agendas, you should always concentrate on the shared values and collaborative areas in order to help make a meaningful difference.
Thank You