Marcos taps ICTSI’s Consing as adviser on investment, economic affairs

MANILA, Philippines – President Ferdinand Marcos Jr. has tapped the chief financial officer (CFO) of Razon-led International Container Terminal Services Incorporated (ICTSI) as an adviser on investment and economic affairs. 

In a disclosure on Wednesday, January 18, ICTSI said its CFO, Rafael “Joel” Consing Jr. has accepted his nomination in the Office of the Presidential Adviser on Investment and Economic Affairs, and that he will be replaced by Emilio V. Pascua. 

ICTSI said the change is effective immediately. 

”During his 15 years at ICTSI, the last seven of which as CFO, Joel Consing has made a very significant contribution to the success of the business, and we have accepted his retirement with regret. At the same time, we are happy that Joel will be moving on to an important role of national responsibility within the Office of the President of the Republic of the Philippines. I congratulate Joel on this new role outside of ICTSI,” said ICTSI chairman and president Enrique Razon. 

Razon, among the wealthiest Filipino businessmen, joined Marcos in his trip to Davos, Switzerland, for the World Economic Forum. 

On Friday, January 20, the Palace announced that Marcos appointed Robinsons Land president and chief executive officer Frederick Go as Presidential Adviser on Investment and Economic Affairs, with Go assisting him in the presidential office.

Consing has worked with Multinational Investment Bancorp., HSBC, and other financial firms. From 1993 to 1995, he was vice president and treasurer of Aboitiz & Company Incorporated and Aboitiz Equity Ventures Incorporated. He was also a director of Manila Water Incorporated, which Razon took over from the Ayalas in 2021, and a director and treasurer of Razon’s Trident Water Company Holdings Incorporated. 

Consing obtained his political science degree from De La Salle University in 1989.

The new ICTSI CFO joined the company 10 years ago. Pascua was ICTSI’s head of mergers and acquisitions in 2020 and was made vice president for Global Mergers and Acquisitions in 2021. He held various posts in finance and business development in the container terminal industry prior to joining ICTSI. 

Pascua has an MBA from Wharton School, University of Pennsylvania, and is an alumnus of Ateneo de Manila University. 

Razon said Pascua’s “experience will be a great asset to the business, and we look forward to working with him to continue to deliver value to all of ICTSI’s stakeholders.”

ICTSI is the world’s largest independent terminal operator. Established in Manila in 1987, it has expanded to 20 countries employing around 11,000 people, its website says. – Rappler.com