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Ayala Corp., the country’s oldest conglomerate, announced on Wednesday key organizational changes within the group that will take effect next year. The conglomerate said in a statement to the stock exchange that its board approved the nomination of José Teodoro Limcaoco to succeed Cezar Consing as president and CEO of the Bank of the Philippine Islands banking unit. Limcaoco will be successful at Consing after the BPI shareholders meeting scheduled for April 22, 2021. “The Ayala group of companies is very fortunate to have deep banking and succession paths for colleagues who embody our values and exhibit further potential. beyond his current functions, “Ayala said the president and CEO of Corp., Jaime Augusto Zobel de Ayala. “TG is an outstanding and valued leader in our group. His extensive experience in banking and finance, innovation and digitization, risk management and ESG and the strong alliances he has forged have been indispensable for Ayala Corp. in recent years and especially during the crisis of 2020. Looking ahead, these strengths TG will be invaluable in ensuring the continued success of BPI as the country and the world move from crisis to recovery, ”said Zobel de Ayala. Limcaoco is the chief financial officer, chief risk officer and chief sustainability officer of Ayala Corp. Alberto de Larrazabal will replace him as of April 23, 2021. De Larrazabal joined Globe Telecom Inc., the telecommunications unit of the Ayala group, in June 2006 as head of its treasury division overseeing treasury, tax and insurance operations. He was promoted to CFO and Treasurer in 2010 and did exceptionally well as CFO. In November 2015, he was promoted to a newly created Chief Commercial Officer position to oversee all customer service units and growing revenue across all product and service groups. Ayala Corp. said De Larrazabal brings a wealth of experience in finance, treasury, risk and business operations at the holding level to the company. Prior to joining Globe in 2006, he was CFO of San Miguel Corp., where he served an 18-year limit in all major financial roles at SMC. “We are excited about the prospect of Albert moving out of Globe to join Ayala Corp. in April 2021. His proven business acumen, leadership, and ability to navigate a complex conglomerate environment will be crucial as we overcome challenges and overcome the opportunities that lie ahead, ”said Zobel de Ayala. De Larrazabal will be replaced by Maria Louisa Guevarra-Cabriera. Said Yolanda Crisanto, Globe’s senior vice president of corporate communications. Crisanto said that Cabriera’s official appointment would take effect in April 2021 and that “she is the deputy CCO during the transition period with immediate effect.” As CCO, Cabreira will oversee Globe’s commercial businesses, branding and marketing teams. Cabriera will be in charge of designing, integrating and promoting the execution of the different strategies of all the Customer Orientation Units at Globe. With Julito G. Rada and Darwin G. Amojelar
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