Millette Asuncion-Arnedo – GC Powerlist
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Philippines 2023

Commercial and professional services

Millette Asuncion-Arnedo

Senior vice president and general counsel | Filinvest Development Corporation

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Philippines 2023

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Millette Asuncion-Arnedo

Senior vice president and general counsel | Filinvest Development Corporation

Team size: Over 60

Why are in-house lawyers well-placed to drive change in their organisations?

Lawyers who advise well are able to educate their organisations about risks. Such awareness about risks associated with their business is not meant to stop an organisation from achieving its goals. It is meant to help them analyse it and create a culture where thoughtful risks are taken. This is a culture that can be established only with the support of their in-house lawyers.

How do you suggest in-house lawyers build strong relationships with business partners?

We, in the Filinvest legal team, believe that we should be business enablers more than just legal advisors. By having this mindset, clients are more welcoming of our presence and inputs which help us gain and maintain a seat on the table. In a world where businesses are presented with a lot of opportunities, lawyers who are naysayers are ignored. Hence, the need for in-house legal teams to really find, or better yet, create pathways to help the companies that they support achieve their goals.

Can you talk about you or your company’s efforts on renewability, sustainability, or other environmentally friendly activities?

Sustainability in the Filinvest group is a mix of corporate social investments (for example, philanthropy or CSR), managing risks associated with environment, economy, social and governance issues (for example, EESG), and creating shared value.

Of these three approaches, creating shared value resonates best with the organisation because this was embedded in our DNA since the beginning. Our purpose is to help Filipinos achieve their dreams, delivered by addressing the fundamental needs of customers. Our banking business is heavy on lending to individuals and MSMEs. Our real estate business offers affordable housing to families who dream of owning a home. Our hospitality business unlocks economic opportunities in communities where there is tourism potential. Our power and sugar units help support the growth of Mindanao’s lagging economy.

The Filinvest group’s sustainability commitments fall under three pillars: we want to be green, inclusive and resilient. By strengthening our delivery on these material topics, we ensure the long-term ability to generate, protect and deliver value to all stakeholders. Under ‘green’, we manage our impact to the environment so that ecosystem services that support our business are sustained. Under ‘inclusive’, we serve the underserved, engage communities and empower our own talents to reach their full potential, irrespective of background. Under ‘resilient’, we work on our organisational agility and ability to withstand any manmade or natural disruptions so that we can continue serving our customers.

Millette Asuncion-Arnedo has primary responsibility for Pfizer’s Asia Pacific’s legal function, spanning 12 jurisdictions. ‘As an in-house counsel, you are expected not just to give a legal opinion that is...

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