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MANILA, Philippines – President Ferdinand Marcos Jr. has appointed Rafael Consing Jr. as president and chief executive officer (CEO) of the Maharlika Investment Corporation (MIC), Malacañang announced on Monday, November 13.
Consing, who was appointed in January this year as executive director of the Office of the Presidential Adviser for Investment and Economic Affairs, is now expected to entice investors to pour in cash for the controversial wealth fund amid global uncertainties.
As president and CEO, he will have the following responsibilities:
- Establish a diversified portfolio of investments in local and global financial markets and other assets that align with the Maharlika fund’s objectives
- Manage and invest the initial and future contributions to the fund
- Accept and manage investment mandates aimed at increasing income for development goals
- Implement international best practices in investing and managing assets.
“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,” Malacañang said.
Prior to his appointment in government service, he held various positions in the private sector, the last being as senior vice-president and chief financial officer of Enrique Razon’s International Container Terminal Services, Incorporated (ICTSI).
He was also vice president and treasurer of the Aboitiz group, and had managing director roles at HSBC.
He is a graduate of De La Salle University, Manila. Has also completed the Stanford University Graduate School of Business’s Emerging CFO: Strategic Financial Leadership Program in 2016. – Rappler.com