Month: September 2022

MANILA — Ayala Corporation’s Board of Directors on Tuesday appointed Mr. Cezar “Bong” Consing as the company’s President & CEO, following his appointment as interim chief in August 15.  

Consing, one of Asia’s most respected figures in the banking sector, has over 30 years of experience in international finance. He started his career in Ayala as a management trainee in BPI, 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. He became a Partner at the Rohatyn Group from 2004 to 2013 and headed its Hong Kong office and its private investing business in Asia and was a board director of its real estate and energy and infrastructure private equity investing subsidiaries.  

In 2013, Consing was appointed President & CEO of BPI – a position he held until his retirement in 2021. Currently, Consing is also a director of Ayala Corporation, BPI, Globe, and ACEN, hence his deep understanding of the Ayala ecosystem.   

Mr. Consing received an A.B. Economics degree (Accelerated Program), magna cum laude, from De La Salle University in 1979. He obtained an M.A. in Applied Economics from the University of Michigan in 1980.  

Meanwhile, legal luminary Mrs. Mercedita S. Nolledo has been elected to Ayala Corporation’s Board as a non-executive director to serve the unexpired term of Mr. Fernando Zobel de Ayala, who was appointed Special Advisor to the Board. Previously, Nolledo served as Board Director of Ayala and BPI from 2004 to 2010 and 1991 to 2021, respectively. She is currently 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.   

Nolledo started her career in Ayala as an investment analyst in 1965. At age 31, she became the highest-ranking female executive in the Ayala Group of Companies as Assistant Vice President of the Corporate Finance Division of CCP Securities.  She eventually became a senior managing director, a senior counsel, and a corporate secretary at Ayala Corporation.   

With Nolledo’s appointment, Ayala Corporation has surpassed its diversity target of having female directors comprise 30% of its Board of Directors by 2025. Currently, female directors – Nolledo, former Singtel Group CEO Chua Sock Koong, and former Sun Life Financial (Philippines) CEO Rizalina Mantaring – represent 42.86% of Ayala Corporation’s seven-seat Board.     

Nolledo received a B.S. in Business Administration major in Accounting (Class Valedictorian and Magna Cum Laude) degree from the University of the Philippines in 1960 and placed second at the Certified Public Accountant Licensure Board Examination administered in the same year.  In 1965, she obtained her Bachelor of Laws degree (Class Valedictorian and Cum Laude) also from the University of the Philippines, where she also placed second at the Bar Examination held in the same year.   

###

For information

Rhys Buccat Brand and Reputation Management

• 

MANILA – As the Philippines evolved into the fastest growing eCommerce market in ASEAN, Ayala-backed omnichannel solutions provider etaily thrives in an industry projected to be worth USD 300 billion by 2025. 

Out of 650 small companies and startups evaluated by Forbes Asia, etaily is among the 100 organizations that address “real-world challenges with fresh thinking and innovative products and services.” Forbes Asia evaluated each company based on the positive impact on the region or industry, track record of strong revenue growth or ability to attract funding, and promising business models or markets. 

Founded in 2020 by a powerhouse team of digital experts, etaily is a one-stop digital solutions provider that makes omnichannel e-commerce easy, fast, and flexible in an increasingly competitive market. It works on mobile application and online store development, customer analytics, inventory management, and warehousing and fulfillment solutions for online transactions. 

“Being featured in Forbes Asia’s 100 to Watch is an incredible feat that wouldn’t be possible without the etaily team. This recognition embodies one of our core values – One Team. It is a testament to each member’s hard work and will push us further to continue our goal to build and enable both local and global brands in the eCommerce landscape,” said etaily Chief Executive Officer Alexander Friedhoff. 

According to the Philippines’ e-commerce roadmap, the e-commerce sector could contribute P1.2 trillion to the economy. Friedhoff said etaily will continue strengthening its presence in the Philippines and other parts of the ASEAN region.   

“We are proud to share that we produced excellent outcomes with our partner brands this year. We’ve launched Southeast Asia’s 1st instant commerce marketplace with Ayala, deployed the Philippines’ 1st hyperlocal multi-warehousing solution, and continuously helped our partner brands become category leaders during monthly sales campaigns of the top eCommerce platforms. We’re excited to enable and grow with them further,” Friedhoff said. 

Ayala Corporation, together with Ayala Malls, acquired a 15 percent stake in etaily in 2021, as part of the Ayala group’s strategy to gear up tech businesses for scale and profitability. This year, etaily reported its revenue growth has increased eightfold. 

“We congratulate the etaily team for the milestones they have achieved. We’re very happy to see that they are continuously expanding their presence in the region,” said Albert de Larrazabal, Ayala Corporation’s Chief Finance Officer, Chief Risk Officer, and Chief Sustainability Officer. “We’re grateful for the chance to support high-potential startups that do not only add value to our portfolio but also share our purpose of doing things for the greater good.” 

####

MANILA — Ayala Corporation and its core businesses Ayala Land, Globe, and BPI continue to exhibit strong Environmental, Social and Governance (ESG) practices, as assessed by London-based FTSE4GOOD Index Series.

Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong ESG practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products.

Ayala Corporation has been a constituent of the FTSE4GOOD Index Series since 2016. Globe and Ayala Land have been in the list for seven consecutive years, while BPI was named constituent since 2020.

FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. The criteria are developed using an extensive market consultation process and are approved by an independent committee of experts. A broad range of stakeholders, including NGOs, governmental bodies, consultants, academics, the investment community and the corporate sector, help shape the criteria.

Ayala Corporation’s Chief Finance Officer, Chief Risk Officer, and Chief Sustainability Officer Albert de Larrazabal said the group’s consistent inclusion in FTSE4Good Index Series shows Ayala’s strong adherence to globally recognized ESG standards.

“We are quite honored to be consistently included in the FTSE4GOOD Index Series, which supports investors who wish to encourage positive change in corporate behavior and align their portfolios with their values,” Larrazabal said.

“Ayala’s holistic view of ESG practices is instilled in our companies. When you invest in Ayala, you are investing for the greater good—and you are assured of long-term value for your investment,” he added.

Ayala Corporation is among the 65 companies, investor groups, and professional accounting firms that endorsed a joint statement calling for a global baseline for reporting sustainability-related information.

This call to action seeks to provide a comprehensive global baseline of sustainability disclosures needed by capital markets, including investors who allocate capital internationally, companies who operate and raise capital across national borders, and the accounting profession that serves all consumers of corporate reporting.

Ayala and its core business units are signatories to the Taskforce on Climate-related Financial Disclosures and are currently working to implement the 11 recommended disclosures in the pillars of governance, strategy, risk management, and metrics & targets.      

###

Rhys Buccat  Brand and Reputation Management Ayala Corporation  

MANILA — Ayala Corporation joins 64 companies, investor groups, and professional accounting firms around the world in endorsing a joint statement that calls for a global baseline for reporting sustainability-related information.

Developed jointly by the World Business Council for Sustainable Development (WBCSD), the Principles for Responsible Investment (PRI), and the International Federation of Accountants (IFAC), this call to action seeks to provide a comprehensive global baseline of sustainability disclosures needed by capital markets, including investors who allocate capital internationally, companies who operate and raise capital across national borders, and the accounting profession that serves all consumers of corporate reporting.

“At Ayala, we have always adhered to the highest level of transparency. Hence, we express our strong support to the call for a globally compatible set of sustainability reporting standards as well as a coordination mechanism that allows stakeholders to understand the value these standards bring in driving growth for the greater good,” said Albert de Larrazabal, Ayala Corporation’s Chief Finance Officer, Chief Risk Officer, and Chief Sustainability Officer.

Ayala Corporation is the first and only WBCSD member-conglomerate in the Philippines. Ayala and its core business units are signatories to the Taskforce on Climate-related Financial Disclosures and are currently working to implement the 11 recommended disclosures in the pillars of governance, strategy, risk management, and metrics & targets.

####