Ayala Corp. said Wednesday its board of directors appointed Cezar Consing as the conglomerate’s president and chief executive following his appointment as interim chief on Aug. 15.
Consing replaced Fernando Zobel de Ayala, who stepped down from various leadership positions within the Ayala Group early this month on medical reasons.
Zobel de Ayala was appointed as special advisor to the board.
Consing, one of Asia’s most respected figures in the banking sector, has more than 30 years of experience in international finance.
He started his career in Ayala as a management trainee in Bank of the Philippine Islands where he eventually became the youngest assistant vice-president in the bank’s history.
He then worked with J.P. Morgan & Co. in Hong Kong and Singapore from 1985 to 2004 and headed the firm’s investment banking business in Asia Pacific from 1997 to 2004.
Consing became a partner at the Rohatyn Group from 2004 to 2013 and headed its Hong Kong office and its private investing business in Asia. He was a board director of its real estate and energy and infrastructure private equity investing subsidiaries.
Consing was appointed president and chief executive of BPI in 2013 until his retirement in 2021.
Meanwhile, the conglomerate also elected Mercedita Nolledo as non-executive director of the board to serve the unexpired term of Zobel de Ayala.
Nolledo previously served as board director of Ayala and BPI from 2004 to 2010 and 1991 to 2021, respectively.
She is a member of the board of trustees of Ayala Foundation Inc., BPI Foundation Inc., advisory board of Ayala Land Inc., and the BPI advisory council.