Press Releases


November 2017

Limcaoco is ING-FINEX CFO of the Year

The Financial Executives Institute of the Philippines and ING Bank NV have named Ayala Corporation Chief Finance Officer Jose Teodoro K. Limcaoco as this year’s CFO of the Year.

As CFO of Ayala, Limcaoco is tasked to manage P900 billion in assets of the Philippines’ oldest and largest conglomerate which has diverse interests in real estate, financial services, telecommunications, water infrastructure, electronics manufacturing, power generation, transport, automotive, healthcare, and education.

“TG plays a very important role in the growth of Ayala Corp. He has a wide lens in which he views things. Our conversations stretch beyond the financials and encompass what we want Ayala to become,” says Ayala Chairman and CEO Jaime Augusto Zobel de Ayala.

JAZA credits Limcaoco for remodeling the capital allocation process at the parent company. This year, Limcaoco spearheaded the issuance of a $400-million “fixed-for-life” perpetual bond offering to help fund the conglomerate’s long-term investments; it was the Philippines’ first international corporate issuance in 2017 and also signaled Ayala’s return to the offshore debt market after a long hiatus. Moreover, in his concurrent roles as Chief Risk Officer and Chief Sustainability Officer of Ayala, Limcaoco has heightened the parent company’s focus on risk management and the group’s alignment to the United Nations Sustainable Development Goals.

Accepting his award on November 20, Limcaoco said: “The role of the CFO is constantly changing, for finance is the lifeblood and tangible measure of corporate success. As corporations and businesses evolve to be more responsible to all their stakeholders, so, too, will the responsibility of a CFO evolve to address and ensure the long-term sustainability of his or her business. This is the challenge we all face and must prepare our successors to address.”

Limcaoco is the fifth Ayala group CFO to receive the organization’s highest distinction, previously won by Ayala Land’s Jaime Ysmael (2011), Manila Water’s Sherisa Nuesa (2008) and Luis Juan Oreta (2015), and Globe’s Delfin Gonzalez Jr. (2007), who was later appointed Ayala CFO.

Ayala Corporation Chief Finance Officer Jose Teodoro “TG” Limcaoco is honored as the 11th ING-FINEX CFO of the Year by (from left) ING Bank Country Manager Hans Sicat, FINEX President Benedicta Du-Baladad, Ayala Chairman and CEO Jaime Augusto Zobel de Ayala, Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr., Ayala President and COO Fernando Zobel de Ayala, Chairman of the Board of Judges Edmundo Soriano, former ING Bank Country Manager Consuelo Garcia, FINEX Liaison Director Cecilio Paul San Pedro, and Chair of the 2017 Awards Committee Judith Lopez

Find out more about ING-FINEX CFO of the Year, TG Limcaoco in this video: