Board of Directors

The Board is guided by the Corporation’s mission and vision in the fulfilment of its functions. The Board conducts a review of the Company’s vision and mission, strategies and corporate governance practices on an annual basis and provides for necessary improvements. In line with this, the Board also ensures the adequacy of internal controls and risk management practices, accuracy and reliability of financial reporting, and compliance with applicable laws and regulations together with the implementation of the Company’s Code of Ethics.

The Board is composed of nine (9) members (each a “member” or “director”), more than 50 percent of whom are independent and/or non-executive directors. Independent directors may serve for a period of not more than nine (9) years.

Ayala Land Board of Directors
DirectorPositionNature of Appointment
Fernando Zobel de AyalaChairmanNon-executive
Jaime Augusto Zobel de AyalaVice ChairmanNon-executive
Antonino T. AquinoDirectorNon-executive
Bernard Vincent O. DyDirectorExecutive
Arturo G. CorpuzDirectorNon-executive
Delfin L. LazaroDirectorNon-executive
Rizalina G. MantaringDirectorNon-executive/Independent
Jaime C. LayaDirectorNon-executive/Independent
Ma. Angela E. IgnacioDirectorNon-executive/Independent

To view the Board of Directors Charter, click on the link below:

(Fernando Zobel de Ayala)

Fernando Zobel de Ayala Filipino, 55, has served as Chairman of the Board of ALI since April 1999.

He holds the following positions in publicly listed companies: President and Chief Operating Officer of Ayala Corporation; Chairman of Ayala Land, Inc. and Manila Water Company, Inc.; and Director of Bank of The Philippine Islands, Globe Telecom, Inc. and Integrated Micro-Electronics, Inc. He is the Chairman of AC International Finance Ltd., Ayala International Holdings Limited, Accendo Commercial Corporation, Alabang Commercial Corporation, Automobile Central Enterprises, Inc., AC Industrial Holdings, Inc., Liontide Holdings, Inc., AC Energy Holdings, Inc., Ayala Healthcare Holdings, Inc. and Hero Foundation, Inc.

He is also the Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Vice Chairman of Ceci Realty, Inc., Vesta Property Holdings, Inc., Aurora Properties, Inc., Columbus Holdings, Inc. Emerging City Holdings, Inc., Fort Bonifacio Development Corporation, and Bonifacio Land Corporation; Director of LiveIt Investments, Ltd., Asiacom Philippines, Inc., AG Holdings Limited, Ayala International Holdings Limited, AI North America, Inc., AC Infrastructure Holdings Corporation, Ayala Retirement Fund Holdings, Inc., Honda Cars Philippines, Inc., Isuzu Philippines Corporation, Pilipinas Shell Petroleum Corp., Manila Peninsula and Habitat for Humanity International;

He is also a member of the INSEAD East Asia Council, World Presidents’ Organization, Habitat for Humanity International, Asia Philanthropy Circle, TATE Asia Pacific Acquisitions Committee and The Metropolitan Internal Council; Chairman of Habitat for Humanity’s Asia-Pacific Capital Campaign Steering Committee; and Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, National Museum, and Asia Society.

He graduated with B.A. Liberal Arts at Harvard College in 1982 and holds a CIM from INSEAD, France.


(Jaime Augusto Zobel de Ayala)

Jaime Augusto Zobel de Ayala, Filipino, 57, has served as a Director, Vice Chairman and Member of the Executive Committee of Ayala Land, Inc. since June 1988.

He holds the following positions in publicly listed companies: Chairman and CEO of Ayala Corporation; Chairman of Globe Telecom, Inc., Integrated Micro-Electronics, Inc. and Bank of the Philippine Islands; and Vice Chairman of Manila Water Company, Inc. He is also the Chairman of Ayala Education, Ayala Retirement Fund Holdings, Inc., AC Industrial Holdings, Inc. and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Director of Alabang Commercial Corporation, Ayala International Pte. Ltd., AC Energy Holdings, Inc., Ayala Healthcare Holdings, Inc., LiveIt Investments Limited, AI North America, Inc., and AG Holdings Limited; Chairman of Harvard Business School Asia-Pacific Advisory Board; and member of the Harvard Global Advisory Council, Mitsubishi Corporation International Advisory Committee, JP Morgan International Council, and Endeavor Philippines.

He was the Philippine Representative to the Asia Pacific Economic Cooperation (APEC) Business Advisory Council from 2010 to December 2015.

He graduated with B.A. in Economics (Cum Laude) from Harvard College in 1981 and obtained an MBA from the Harvard Graduate School of Business Administration in 1987. In 2007, he received the Harvard Business School Alumni Achievement Award, the school’s highest recognition.

He was a recipient of the Presidential Medal of Merit in 2009 for enhancing the prestige and honor of the Philippines both at home and abroad. In 2010, he was bestowed the Philippine Legion of Honor, with rank of Grand Commander, by the President of the Philippines in recognition of his outstanding public service. In 2015, he received the Order of Mabini, with rank of Commander, for his vital contributions during the Philippines’ hosting of the Asia Pacific Economic Cooperation (APEC) Summit.

(Bernard Vincent O. Dy)

Bernard Vincent O. Dy, Filipino, 53, is the President and Chief Executive Officer of Ayala Land, Inc. effective April 7, 2014. Prior to this post, he was the Head of the Residential Business, Commercial Business and Corporate Marketing and Sales.

He is the Chairman of three other publicly listed companies namely: Cebu Holdings, Inc., Cebu Property Ventures and Development Corporation and Prime Orion Philippines, Inc. His other significant positions include: Chairman of Ayala Property Management Corporation, Makati Development Corporation, Ayala Land International Sales, Inc., Amicassa Process Solutions, Inc., Amaia Land Corporation, Avida Land Corp., Alveo Land Corp., Alviera Country Club, Inc., AyalaLand Commercial Reit, Inc., Lagdigan Land Corporation, Bellavita Land Corporation, Avencosouth Corp., Ayagold Retailers, Inc., Station Square East Commercial Corporation, Aviana Development Corp., Cagayan De Oro Gateway Corp., BGSouth Properties, Inc., BGNorth Properties, Inc., BGWest Properties, Inc., Portico Land Corp., Nuevocentro, Inc,, Philippine Integrated Energy Solutions, Inc., SIAL Specialty Retailers, Inc., and SIAL CVS Retailers, Inc.; He is also the Vice Chairman of Ayala Greenfield Development Corporation; Chairman and President of Serendra, Inc.; and Director and President of Bonifacio Land Corporation, Emerging City Holdings, Inc., Columbus Holdings, Inc. Berkshires Holdings, Inc., Fort Bonifacio Development Corporation, Aurora Properties Incorporated, Vesta Property Holdings, Inc., Ceci Realty Inc., Alabang Commercial Corporation, Accendo Commercial Corp., Hero Foundation Incorporated, Bonifacio Art Foundation; Director of Whiteknight Holdings, Inc., AyalaLand Medical Facilities Leasing, Inc., Alveo-Federal Land Communities, Inc., ALI Eton Property Development Corporation; Trustee of Ayala Foundation, Inc.; and Member of Ayala Group Club, Inc.

In 2015, he was inducted as member of the Advisory Council of the National Advisory Group for the Police Transformation Development of the Philippine National Police.

He earned a Bachelor’s Degree in Business Administration from the University of Notre Dame in 1985. He also received his MBA in 1989 and MA International Relations in 1997, both from the University of Chicago.

(Antonino T. Aquino)

Antonino T. Aquino, Filipino, 69, has served as Director of Ayala Land, Inc. since April 2009. He is also a Director of Manila Water Company, Inc. (MWC), another publicly listed company, since 1999.

He was the President of ALI from April 2009 to April 2014, MWC from April 1999 to April 2009, and Ayala Property Management Corporation from 1989 to 1999. He is a Director of Nuevocentro, Inc. and Anvaya Beach & Nature Club. He is also a Member of the Multi Sectoral Advisory Board of the Philippine Army and the Multi Sector Governance Council of the Armed Forces of the Philippines. He was named “Co-Management Man of the Year 2009” by the Management Association of the Philippines for his leadership role in a very successful waterworks privatization and public-private sector partnership.

In 2015, he was elected as Director of The Philippine American Life and General Insurance Company (Philam). He earned a degree in BS Management from the Ateneo de Manila University in 1968 and completed his academic units for the Masters in Business Administration from the Ateneo Graduate School of Business in 1975.

(Arturo G. Corpuz)

Arturo G. Corpuz, Filipino, 61, has served as a member of the Management Committee of Ayala Land, Inc. from 2008 to December 31, 2016. He is a member of the Board since April 2016.

He is also a member of the Board of Aurora Properties, Inc., Vesta Properties Holdings, Inc., Nuevocentro, Inc., Next Urban Alliance Development Corp. and Alviera Country Club, Inc. He is a former President of the Philippine Economic Society and a Fellow of the Foundation for Economic Freedom and the Philippine Institute of Environmental Planning.

Mr. Corpuz received his baccalaureate degree in Architecture from the University of the Philippines in 1977 and his masteral and doctoral degrees in urban and regional planning from Cornell University in 1984 and 1989.

(Delfin L. Lazaro)

Delfin L. Lazaro, Filipino, 70, has served as a member of the Board of Ayala Land, Inc. since April 1996. He holds the following positions in publicly listed companies: Director of Ayala Corporation, Integrated Micro- Electronics, Inc., Manila Water Company, Inc., and Globe Telecom, Inc. His other significant positions include are: Director of Philwater Holdings Company, Inc. and Chairman of Atlas Fertilizer & Chemicals Inc.; Director of A.C.S.T. Business Holdings, Inc.; Vice Chairman and President of Asiacom Philippines, Inc.; Director of Ayala International Holdings, Ltd., Bestfull Holdings Limited, Probe Productions, Inc.; and Trustee of Insular Life Assurance Co., Ltd.

He graduated with BS Metallurgical Engineering at the University of the Philippines in 1967 and took his MBA (with Distinction) at Harvard Graduate School of Business in 1971.

(Rizalina G. Mantaring)

Rizalina G. Mantaring, Filipino, 57, has served as an Independent Director of Ayala Land, Inc. since April 2014. She holds the following positions: Country Head for the Sun Life Financial group of companies in the Philippines, President and CEO of the flagship Sun Life of Canada (Philippines) Inc., Director of Sun Life of Canada (Philippines) Inc., Sun Life Financial Plans, Sun Life Asset Management Co. Inc., Sun Life Financial Philippine Holding Co. Inc., Sun Life Grepa Financial, Inc., and Grepalife Asset Management Corporation; Independent Director of First Philippine Holdings, Corp. and Microventures Foundation Inc. She is also the Chairman of Sun Life Financial-Philippines Foundation, Inc. and a member of the Makati Business Club, Management Association of the Philippines, and Financial Executives of the Philippines. In 2010, she was selected as one of the 100 Most Outstanding Alumni of the past century by the University of the Philippines College of Engineering.

In 2011, she was named by Moneysense Magazine as one of the 12 Most Influential in Personal Finance. She is also a recipient of the 2011 CEO EXCEL award given by the International Association of Business Communicators.

She is a BS Electrical Engineering, cum laude, graduate of the University of the Philippines. She obtained her MS degree in Computer Science from the State University of New York at Albany.

(Jaime C. Laya)

Jaime C. Laya, Filipino, 77, has served as an Independent Director of Ayala Land, Inc. since April 2010. He is a member of the Board of Directors of publicly listed companies, being Independent Director of GMA Network, Inc., GMA Holdings, Inc., and Manila Water Company, Inc.; and Regular Director of Philippine Trust Company (Philtrust Bank). His other significant positions are: Chairman and President of Philtrust Bank, Independent Director of Philippine AXA Life Insurance Co., Inc. and of Charter Ping An Insurance Corporation; and Trustee of Cultural Center of the Philippines, St. Paul’s University – Quezon City, Ayala Foundation, Inc., Escuela Taller de Filipinas Foundation, Inc., Fundación Santiago, and other nonprofit, non-stock corporations.

He graduated magna cum laude from University of the Philippines in 1957 with a degree in B.S.B.A.
(Accounting) and completed his M.S. in Industrial Management at Georgia Institute of Technology in
1960 and his Ph.D. in Financial Management at Stanford University in 1967.

He has served as Minister of Budget, Minister of Education, Culture and Sports, Governor of the Central Bank of the Philippines, Chairman of the National Commission for Culture and the Arts, and Professor and Dean of Business Administration of the University of the Philippines.


(Not in photo) *Appointed April 19, 2017

Ma. Angela E. Ignacio*, Filipino, 44, is an International Consultant for The World Bank’s Public Financial  Management Assistance Program in Vietnam for the oversight of state owned enterprises. She is also the Executive Vice President of R.A. Ignacio Construction Corporation and the Managing Director for Corporate Advisory for Avisez Asia, Inc. She is a fellow of the Institute of Corporate Directors.

She is a Certified Finance and Treasury Professional in Australia and a Member of the Finance and Treasury Association of Australia. She served as a Commissioner of the Governance Commission for Government-Owned or Controlled Corporations (“GCG”) with a rank of Undersecretary from November 2011 to June 2016.

Prior to her appointment as GCG member, she served as Vice President under the Office of the Board Chairman at the Philippine Deposit Insurance Corporation and also served concurrently as Special Assistant for Corporate Affairs and Management Information Systems to the Secretary of the Department of Finance (“DOF”) from September 2010 to October 2011. In that capacity, she conceptualized and managed the development and implementation of an integrated corporate reporting system for government corporations, represented the DOF in the Task Force for Corporate Compensation, and coordinated and monitored all information technology initiatives of the different agencies attached to DOF. She was a Director of the United Coconut Planters Bank where she was also a member of the Executive, Risk Management and Compensation and Benefits Committees; and a Director of UCPB Savings Bank and UCPB Securities.

She obtained her double degree in Applied Economics and Commerce, major in Management of Financial Institutions from De La Salle University in 1994 where she was on the Dean’s Honor’s List and was awarded Best Thesis by the Economics Department for her work on Financial Distress Prediction Models in the Philippines. She earned a Master’s Degree in Applied Finance from the University of Melbourne in 2000 where she was recognized for her outstanding achievement in the program. She also obtained a diploma in Financial Services and Planning from PS146 Training in Australia in 2006.