COMPANY PROFILE

Deutsche Regis Partners, Inc. is the equities platform of Deutsche Bank in the
Philippines. It is a joint venture between local management and the Deutsche Bank
Group.

A member of the Philippine Stock Exchange (PSE), Deutsche Regis offers research,
sales, trading, and execution services to its foreign and local institutional clients. Its
primary goal is to deliver value to its clients by providing sound financial advice that
challenges conventional wisdom and the consensus view. The Company’s country –
based team of research analyst is augmented by Deutsche Bank’s specialists based
in Hong Kong, Singapore, London and New York, who provide global expertise in
strategy, economics, and industry research.

Deutsche Regis has been the dominant brokerage house in the Philippine Stock
Exchange over the past 10 years. It has received numerous awards for “Best Equity
House” and “Best Research House” from institutions such as Fund Managers
Association of the Philippines (FMAP), and from Publications including Institutional
Investor and Asia Money. Deutsche Regis has also been a recipient of the Philippine
Stock Exchange Bell Award for Good Governance.
Board of Directors and Senior Officers

Emmanuel O. Bautista
Chairman of the Board / President
Tel.: +63 2 894-6602
Email: emmanuel.bautista@db.com

Noel Bautista is the Chairman of Deutsche Regis Partners, Inc. He

joined the Deutsche Bank Group in 1994 as Head of Office, and
concurrent Head of Sales and Trading at Deutsche Morgan Grenfell
Philippines. In 1999, he co – founded the joint venture, Deutsche
Regis Partners, Inc. and oversaw the growth of the company into the
largest equity house in the Philippine Stock Exchange.

Noel brings to the business a wealth of experience in corporate

strategy, financial analysis and planning, from the various positions
he held during his seven years at PepsiCo International in New York
and the Philippines. Noel earned his MBA degree from Georgetown
University, USA, and a Bachelor of Science degree in Management
Engineering from the Ateneo de Manila University. He is currently a
member of the Board of Directors of the Philippine Stock Exchange.

Michael Angelo B. Macale

Director / Managing Director – Head of Sales
Tel.: +63 2 894-6653
Email: michael.macale@db.com

Michael Macale is the Head of Sales and Trading at Deutsche Regis

Partners, Inc. Mike joined the company in March 2001 as Director of
Institutional Sales. He is responsible for marketing Philippine equities
to institutional investors based in Singapore, Hong Kong, the United
States, Europe, and the Philippines. He likewise oversees the sales
team and drives the overall account management process of the
company.

Mike’s professional experience in the equities business is extensive.

He started in this industry in 1992, and worked as an equity sales
specialist at Citigroup, ING Barings, and Socgen Securities. Mike
graduated from the Ateneo de Manila University with a Bachelor of
Science degree in Management.
Rafael P. Garchitorena
Managing Director – Research Chief Strategist
Tel.: +63 2 894-6644
Email: rafael.garchitorena@db.com

Rafael Garchitorena is Chief Strategist and co-Head of Research of

Deutsche Regis Partners Inc.

Rafa’s experience in the equities industry is extensive. He began his

career as a research analyst at BZW in Manila from 1993 to 1998.
He then worked for W.I. Carr as an equity sales person based in
London from 1998 to 2002. Rafa joined Deutsche Regis Partners
Inc. as a senior analyst in April 2002. He was, then, the industry
specialist for Philippine banks and the property sector. While he
continues to cover the Philippine Banking sector, Rafa is now
principally responsible for the company’s overall equities strategy.

Rafael graduated from the Ateneo de Manila University with a

Bachelor of Science degree in Management Engineering.

Enrico S. Cruz
Director
Tel.:+63 2 894-6887
Email: enrico.cruz@db.com

Enrico Cruz is Chief Country Officer and Head of Corporate and

Investment Bank for Deutsche Bank in the Philippines. Eric is
responsible for the overall supervision of Deutsche Bank’s operations
in the Philippines. He is primarily responsible for client coverage and
ensuring full compliance with regulatory matters for all legal entities.

Eric joined Deutsche Bank in July 1995 from Citytrust Banking

Corporation, an affiliate of Citibank N.A., where he gained 16 years’
experience in both treasury (reserves and liquidity management,
multi-currency trading and positioning in securities, equities, foreign
exchange and money markets) and operations (commercial credits
and trade services, treasury service, loans and securities
custodianship, clearing operations, cash, remittance, trust and
fiduciary transactions, and general services). He is currently the
Secretary and a Director of the Bankers Association of the
Philippines and also served as President of the Money Market
Association of the Philippines in 1992. He has served as an active
member/chair of various committees of the Bankers Association of
the Philippines since 1992.

He obtained his MBA from the University of the Philippines and was
a distinguished alumnus awardee in 2008. He has an undergraduate
degree from the UP School of Economics and was likewise named
by the UPSEAA as one of its distinguished alumni during the 50th
Anniversary celebration of the School of Economics in February
2015.
Clive Lee
Director
Tel.: +65 64235536
Email: clive.lee@db.com

Clive Lee is the Head of ASEAN Equity at Deutsche Bank based in

Singapore. He is also a regional sales person and account manager
covering global institutions such as GIC, Aberdeen Standard,
Eastspring Investments and Janus Henderson. He joined Deutsche
Bank in 2001 in Singapore from W.I. Carr where he was an equity
sales person and an equity analyst before that.

Clive graduated from the University of Southampton, U.K. with a

Bachelor of Science degree in Business Economics and Accounting.
He is also a qualified Chartered Accountant (ACA) and a Chartered
Financial Analyst (CFA).

Amelia B. Cabal
Independent Director
Tel.:
Email: amy.b.cabal2@gmail.com

Amy Cabal has been an Independent Director of Deutsche Regis

Partners Inc. since 2011. She is the Chairman of the company’s Audit
Committee. Amy is currently a member of the Board of Directors of
Philippine Savings Bank and is a Bank Supervisor of Metrobank
China (Ltd). She is also an independent director of Ionics, Inc., Ionics
EMS Inc., and I Omni Precision Inc.

Amy is a retired partner of SGV & Co., where she built her
professional career in Audit from 1968 to 2006. She was the Vice –
Chairman / Head for Financial Markets of SGV prior to her retirement
in 2006. She remained as Senior Advisor on regulatory matters and
financial markets for SGV up to 2009. Post retirement, Amy has held
various board directorships in both publicly listed and private
companies. She also held the Chairmanship of the External Audit
Committee of the International Monetary Fund in Washington D.C.,
USA.
Raymundo F. Feliciano, Jr.
Independent Director
Tel.:
Email: ting.feliciano@bates.com.ph

Raymundo Feliciano has been an independent director of Deutsche

Regis Partners, Inc. since 2011. He is a member of the Audit
Committee. Raymundo is currently the President / Director of ROF
Management & Development Co., and Vice President / Director of
BU Properties. He is the Chairman of the Board of TVEEZ Solutions,
Inc., and also serving directorships to Bates Licensing and
Entertainment, Inc. and Tuesday Licensing and Entertainment, Inc.

Raymundo graduated from the Ateneo de Manila University in 1982

with a Bachelor of Arts degree in Economics. He earned his MBA
credits from the Asian Institute of Management in 1985-1986.

Giovanni L. Dela Rosa, C.F.A.

Director / Managing Director – Head of Research
Tel.: +63 2 894-6642
Email: giovanni.dela-rosa@db.com

Giovanni de la Rosa is the Head of Research of Deutsche Regis

Partners Inc. Gio brings to the business a wealth of experience in
financial planning and analysis. He started his career in 1994 as an
equity research analyst, where he covered a variety of sectors during
his stints at DBS Securities, ING Barings, and W.I. Carr from 1994 to
2002. In 2002 Gio moved to the corporate side, where he worked as
a senior analyst for the Corporate Planning Division of San Miguel
Corporation.

Gio joined Deutsche Regis in 2004, as a senior analyst covering the

telecoms, power, and utilities sectors. Today he maintains coverage
of telecoms, power and conglomerates while fulfilling his principal
role as Head of the Research department.

Gio holds a Bachelor of Science Degree in Management Engineering

from the Ateneo de Manila University. He is a CFA Charter holder.
Jose Salvador Y. Mirasol
Corporate Secretary
Tel.: +63 2 555-9678
Email: Zaldy.Mirasol@Romulo.com

Jose Salvador Y. Mirasol is the Corporate Secretary of Deutsche

Regis Partners Inc. Zaldy is supervising partner of the Corporate
Banking & Finance Group of the Romulo, Mabanta, Buenaventura,
Sayoc & de los Angeles Law Offices. His practice focuses on
banking and finance, corporate law, and real estate.

Zaldy is particularly consulted by corporate clients on structuring,

nationality compliance, capital raising, counterparty negotiation, and
other difficult corporate issues. He is likewise engaged by major
foreign banks, multilaterals, and financial institutions on derivatives
and structured products, cross-border advisory and investments,
franchise expansion, multi-creditor cross-currency refinancing, and
other complex financial transactions. His advice is sought for its
comprehensiveness, creativity, and practicability.

Zaldy earned his bachelor’s degree in Philosophy and Mathematics,

cum laude and department awardee, from the Ateneo de Manila
University in 1980. He received his bachelor of laws degree, cum laude
and class valedictorian, from the University of the Philippines in 1988.
He was admitted to the Philippine bar and joined the firm in 1989.

Juan Ricardo B. Tan

Asst. Corporate Secretary
Tel.: +63 2 555-9676
Email: Juan_Ricardo.Tan@Romulo.com

Rico Tan is the Assistant Corporate Secretary of Deutsche Regis

Partners Inc. He is a partner in the Corporate Banking & Finance
department of law firm Romulo, Mabanta, Buenaventura, Sayoc & De
Los Angeles.

Rico is a regular adviser to various multilateral financial institutions,

offshore banking units, and most foreign banks in the Philippines. Mr.
Tan has extensive debt capital market experience, having been
recognized as a preferred Philippine counsel to the managers and
dealers in all the recent global bond issuances in foreign currency as
well as global Peso notes, bond exchanges, and tender offers by the
Republic of the Philippines and other government-owned and -
controlled corporations.

Rico received his Bachelor of Science degree in 1988 from the

Ateneo de Manila University and his juris doctor degree in 1992 from
the Ateneo School of Law with a Silver Medal for academic
excellence. He was admitted to the Philippine bar in 1993 and joined
the firm in 1994.
Research Department

Giovanni L. Dela Rosa, C.F.A.

Director / Managing Director – Head of Research
Tel.: +63 2 894-6642
Email: giovanni.dela-rosa@db.com

Covered Sectors

Telecom
Power / Utilities
Conglomerates

Rafael P. Garchitorena
Managing Director – Research Chief Strategist
Tel.: +63 2 894-6644
Email: rafael.garchitorena@db.com

Covered Sectors

Strategy
Banks

Carl Stanley T. Sy, C.F.A.

Senior Investment Analyst
Tel.: +63 2 894-6646
Email: carl.sy@db.com

Covered Sector

Property
Cerre Klyne M. Resullar
Research Analyst
Tel.: +63 2 894-6645
Email: klyne.resullar@db.com

Covered Sectors

Infrastructure
Transport

Maria Lourdes Carissa B. Mangubat

Research Analyst
Tel.: +63 2 894-6647
Email: carissa.mangubat@db.com

Covered Sector

Consumer

Aaron M. Salvador
Research Analyst
Tel.: +63 2 894-6636
Email: aaron.salvador@db.com

Covered Sector

Gaming
Jose Enrique F. Fausto
Research Associate
Tel.: +63 2 894-6640
Email: enrique.fausto@db.com
Equities Sales Department

Michael Angelo B. Macale

Director / Managing Director – Head of Sales
Tel.: +63 2 894-6653
Email: michael.macale@db.com

Manuel Luis C. Legarda

Head of Domestic Sales
Tel.: +63 2 894-6651
Email: manuel-luis.legarda@db.com

Nadine Guinevere J. Cariño

Institutional Sales
Tel.: +63 2 894-6650
Email: nadine.javellana@db.com
Francis Nicolo P. Ruffy
Institutional Sales
Tel.: +63 2 894-6655
Email: nic.ruffy@db.com

Daisy A. Ng
Sales Trader
Tel.: +63 2 894-6652
Email: daisy.ng@db.com

Antonio Luis D. Banson

Sales Trader
Tel.: +63 2 894-6648
Email: antonio.banson@db.com
Alejandro Maria R. Molina
Equities Dealer
Tel.: +63 2 894-6657
Email: alejandro.molina@db.com

Ken Isagani C. Mariano III

Equities Dealer
Tel.: +63 2 894-6960
Email: ken.mariano@db.com

Anna Bernadette E. Gonzalez

Equities Dealer Trainee
Tel.: +632 2 894-6621
Email: bea.gonzalez@db.com
Operations Department

Daniel I. Orajay
Controller
Tel.: +63 2 894-6630
Email: daniel.orajay@db.com

Philippe R. Hipolito
Settlements Head
Tel.: +63 2 894-6623
Email: philippe.hipolito@db.com

Marjette Maceda – Panelo

Administrative Officer
Tel.: +63 2 894-6625
Email: marjette.panelo@db.com
Mark Anthony P. Salvador
Associated Person
Tel.: +63 2 894-6611
Email: mark-anthony.salvador@db.com