Ayala Group reorganizes the main executives

MANILA – The Ayala Group announced Wednesday that the top executives of its companies Ayala Corp (AC), Bank of the Philippine Islands (BPI) and Globe Telecom will move within the organization.

“The Ayala group of companies is very fortunate to have a deep bank and succession paths for colleagues who embody our values ​​and exhibit potential beyond their current roles,” said Jaime Augusto Zobel de Ayala, president and CEO of AC, in a release.

AC CFO José Teodoro Limcaoco will succeed Cezar Consing as president and CEO of BPI, following board approval on Wednesday.

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Leadership change at one of the largest banks in the Philippines $ BPI as Ayala Corp. $ AC CFO Teodoro “TG” Limcaoco is named the lender’s next president and CEO, succeeding Cezar “Bong” Consing. pic.twitter.com/1SxYKnSLEK

– Bruce T. Rodríguez (@BruceTRodriguez) December 16, 2020

The transfer of Limcaoco will take effect after BPI’s shareholders meeting scheduled for April 22 next year.

Consing, now outgoing president of BPI, will continue as director of the bank’s board and member of the executive committee.

Meanwhile, Globe’s concurrent Commercial Director (CCO) Alberto M. de Larrazabal will become AC’s CFO after Limcaoco at the time of AC’s shareholders’ meeting on April 23.

Following De Larrazabal’s transfer, Globe will promote Maria Louisa Guevarra-Cabreira to the position of CCO, from her current position as Director of Globe’s Commercial Business.

Zobel is confident in leading leadership moves, citing that Limcaoco’s strong banking and financial experience will serve BPI as it returns to banking roots, while welcoming Larrazabal as its new CFO.

Before transferring to AC, Limcaoco was Executive Vice President of BPI and President of BPI Capital 10 years ago.

The Ayala group of companies includes not only conglomerate AC, BPI and Globe, but also Ayala Land, Manila Water, AC Infrastructure, AC Energy and electronics maker Integrated Micro-Electronics Inc.

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