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Manila Bulletin devider Philippines devider National devider Marcos names Rafael Consing Jr. as Maharlika president

Marcos names Rafael Consing Jr. as Maharlika president

Published Nov 13, 2023 03:35 am

President Marcos has appointed  Rafael Consing Jr. as president and chief executive officer of the Maharlika Investment Corporation (MIC).

Rafael Consing.jpg
Rafael Consing Jr. (Photo from Rafael Consing LinkedIn page)

Malacañang announced the development on Monday, Nov. 13, two days after the revised implementing rules and regulations (IRR) of the Maharlika Investment Fund (MIF) Act was released.

Consing is currently appointed as executive director of the Office of the Presidential Adviser for Investment and Economic Affairs (OPAIEA) where he was responsible for providing policy recommendations to advance the Marcos' investment and economic agenda.

"He is an accomplished, results-driven, and multi-awarded C-level executive with a profound depth of experience in corporate governance, mergers and acquisitions, corporate finance, global capital markets, stakeholder relations, and business strategy development," the Presidential Communications Office (PCO) said in a statement.

"He has demonstrated a remarkable ability to create value across economic cycles through sound strategic fiscal management. He is also well-versed in global corporate governance and has had a successful transition from regional investment banking to senior corporate management and government advisory," the PCO added.

As president and CEO of the MIC, Consing will be responsible in establishing a diversified portfolio of investments in local and global financial markets and other assets that align with the Fund's objectives.

He will also manage and invest the initial and future contributions to the Fund in accordance with R.A. No. 11954 and  accept and manage investment mandates aimed at increasing income for development goals.

Consing, as head of the Fund, is expected to develop and foster skills in finance, economics, risk mitigation, good governance, and related areas, consistent with building human resources capacity in the industry.

He will also have to implement international best practices in investing and managing assets in line with the Santiago Principles and other globally-recognized standards of transparency and accountability.

He will have to work closely with the executive management and the Board, possessing extensive experience in corporate management, financial planning strategy, strategic planning and vision, market and business development, budget development, and a deep understanding of the industry.

He will hold the post for a term of three years.

Prior to his appointment in government service, Consing was a senior vice president and chief financial officer of International Container Terminal Services, Inc. (ICTSI); managing director roles at HSBC Hong Kong and HSBC Singapore; vice president and treasurer for Aboitiz & Co., Inc. and Aboitiz Equity Ventures, Inc.; and held positions at Bankers Trust Company and Multinational Bancorporation.

He is a graduate of De La Salle University, Manila, and has also completed the Stanford University Graduate School of Business's Emerging CFO: Strategic Financial Leadership Program in 2016.

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Maharlika Investment Corp. (MIC) President Marcos RAFAEL CONSING JR
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