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.
Independent directors may serve for a period of not more than nine (9) years.
Profile of Members
Jaime Augusto Zobel de Ayala| Chairman, Filipino, 63, Director of Ayala Land, Inc,. Since June 1988. He is also the Chairman of Ayala Corporation since April 2006. He was the Chief Executive Officer from 2006 to April 2021.
He is also the Chairman of the other publicly listed companies of the Ayala Group, namely Globe Telecom, Inc. and Bank of the Philippine Islands.
He is the Chairman of non-listed companies such as AC Energy and Infrastructure Corporation (formerly AC Energy, Inc.),AC Industrial Technology Holdings, Inc., AC Infrastructure Holdings Corporation, Ayala Healthcare Holdings, Inc., and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc.; Director of AC Ventures Holding Corp., Alabang Commercial Corporation, Light Rail Manila Holdings, Inc. and AG Holdings Ltd.
Outside the Ayala Group, he is a Director of Temasek Holdings (Private) Limited and a member of various business and socio- civic organizations in the Philippines and abroad, including the JP Morgan International Council, JP Morgan Asia Pacific Council, and Mitsubishi Corporation International Advisory Council. He is a member of the Board of Governors of the Asian Institute of Management, the Advisory Board of Asia Global Institute (University of Hong Kong) and of various advisory boards of Harvard University, including the Global Advisory Council, Asia Center Advisory Committee, HBS Board of Dean’s Advisors, and HBS Asia- Advisory Committee. He sits on the Board of Singapore Management University (SMU) and is a Chairman of SMU International Advisory Council in the Philippines. He is a member of the Asia Business Council, Asean Business Club Advisory Council, Leapfrog Investment Global Leadership Council, The Council for Inclusive Capitalism, and Word Wildlife Philippines National Advisory Council. He is Co-Vice Chairman of the Makati Business Club, Chairman of Endeavor Philippines, and Trustee Emeritus of Eisenhower Fellowships.
He was awarded the Presidential Medal of Merit in 2009, the Philippine Legion of Honor with rank of Grand Commander in 2010, and the Order of Mabini with rank of Commander in 2015 by the President of the Philippines in recognition of his outstanding public service.
In 2017, he was recognized as a United Nations Sustainable Development Goals Pioneer by the UN Global Compact for his work in sustainable business strategy and operations. The first recipient of the award from the Philippines, he was one of 10 individuals recognized for championing sustainability and the pursuit of the 17 SDGs in business.
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 in 1987.
Cezar P. Consing | Vice Chairman, Filipino, 63, is the President and Chief Executive Officer of Ayala Corporation effective September 27, 2022 and has been a Director since December 3, 2020. He was appointed as a Director and Vice Chairman of ALI in April 2023.
He has been a member of the Ayala Group Management Committee since April 2013. He is also a Director of the publicly-listed subsidiaries of Ayala Corporation: Bank of the Philippine Islands (BPI), Globe Telecom, Inc. and ACEN Corporation. He is also advisor of the board of Ayala Land, Inc.
He is the Chairman of Philippine Dealing System Holdings and its three operating subsidiaries since 2010. He is also a Director of the Myanmar-listed First Myanmar Investment Public Company Limited. Concurrently, he is the Vice Chairman of AC Infrastructure Holdings Corporation, AC Industrial Technology Holdings, Inc., AC Energy and Infrastructure Corporation, and Ayala Healthcare Holdings, Inc., and a Director in Asiacom Philippines, Inc. Mr. Consing is Vice Chairman of BPI’s executive committee, and a board director of its investment bank, microfinance bank and asset management company. He is currently a board trustee of the Philippine-American Educational Foundation, which selects the Fulbright scholars, a member of the National Mission Council of De La Salle Philippines, a board trustee of College of St. Benilde, and a board trustee of the Manila Golf Club Foundation. He is a board director of Filgifts.com.
He has been a member of the Trilateral Commission since 2014. Mr. Consing was a Senior Managing Director of Ayala Corporation and President and CEO of BPI from 2013 to 2021. In the latter capacity, he served as the chairman of BPI’s thrift bank, investment bank, UK-registered bank, microfinance bank, property and casualty insurance joint venture and leasing and rental joint venture and board director of its asset management company and its life insurance joint venture. He served as Chairman and President of the Bankers Association of the Philippines from 2019 – 2021, and President of Bancnet, Inc. from 2017 – 2021. Mr. Consing was a Partner of The Rohatyn Group from 2004– 2013. He 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.He worked for J.P. Morgan & Co. in Hong Kong and Singapore from 1985 – 2004. He headed the firm’s investment banking business in Asia Pacific (ex-Japan) from 1997 – 2004 and served as President of J.P. Morgan Securities (Asia Pacific) Ltd. As a senior Managing Director, Mr. Consing was a member of the firm’s Global Investment Banking
Management Committee, its Asia Pacific Management Committee, and its Global Managing Director Selection Committee.
Further, he worked for BPI from 1981 – 1985, joining as a management trainee and eventually rising to Assistant Vice President. During this period, and on a part-time basis, he taught Economics in the MBA program of De La Salle University. Mr. Consing has served as an independent board director of four publicly listed companies in Asia: Jollibee Foods Corporation (2010 – 2021), CIMB Group Holdings (2006 – 2013), First Gen Corporation (2005 – 2013), and National Reinsurance Corporation (2014 – 2019), where he also served as Chairman (2018 – 2019).
He has served as a board director of the Singapore-based SQREEM Technologies, the Singapore-listed Yoma Strategic Holdings Ltd, the Hongkong-based Asian Youth Orchestra, the US-Philippines Society, Endeavor Philippines and La Salle Greenhills.
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.
Anna Ma. Margarita B. Dy | President and CEO, Filipino, 54, has led Ayala Land, Inc. as President and Chief Executive Officer since October 1, 2023.
Prior to this, she has served as the Company’s Executive Vice President since January 1, 2023 and Chief Operating Officer since April 26, 2023.
She has been a member of the Company’s Management Committee since August 2008.
Ms. Dy also serves as the Chairman of AREIT, Inc.; Head of the Residential Business Group and the Malls Group of the Company; and director and officer of various companies within the ALI Group.
She headed the Company’s Strategic Landbanking Group for several years.
Prior to joining ALI, she was a Vice President of Benpres Holdings Corporation.
She graduated magna cum laude from Ateneo De Manila University with BS of Arts Degree in Economics Honors Program in 1990. She earned her Master’s degree in Economics from London School of Economics and Political Science in 1991 and MBA at Harvard Graduate School of Business Administration in Boston in 1996.
Daniel Gabriel M. Montecillo | Lead Independent Director, Filipino, 60, was appointed as an Independent Director of ALI in April 2023.
He was formerly the Executive Vice President and Group Head of Corporate Clients of the Bank of the Philippine Islands. He Immediately prior to this role, he was President of BPI Capital Corporation for 4 ½ years.
Prior to returning to the Philippines, he was also the Chief Executive Officer (CEO) and Managing Equity Partner of Diamond Dragon Advisors and CEO of Fidelis Holdings.
He has 21 years of international investment banking experience, having worked at Bankers Trust Company in New York and at Credit Suisse and Morgan Stanley in Hong Kong. He is an independent director of the Bank of Commerce (universal banking), RASLAG Corporation (renewable energy), Metro Pacific Health (hospital management), and Maybank Investment Banking Group (investment banking), where he serves as Chair of the Corporate Governance, Environmental, Social, Governance and Audit Committees. He is also on the global board of directors of International Care Ministries and the United Nations Global Compact Network (Philippine chapter).
He is a certified coach (ACC designation from the International Coaching Federation), leadership development speaker and facilitator, as well as senior consultant to the International Finance Corporation and to private Philippine companies.
He obtained his Master of Business Administration and Master of Arts from Stanford University. He obtained his Bachelor of Science in Management of Financial Institutions and Bachelor of Arts in Behavioral Sciences (magna cum laude) from De La Salle University.
Rex Ma. A. Mendoza | Indepedent Director, Filipino, 60, has served as the Independent Director of Ayala Land, Inc. since April 22, 2020.
He is the President and CEO of Rampver Financials, a financial services firm and the leading non-bank mutual funds distributor in the country.
He currently serves as the lead independent director of Globe Telecom, Inc. (publicly listed company) and an independent director of two (2) listed firms, Ayalaland Logistics Holdings Corp. and the National Reinsurance Corporation of the Philippines.
He is also a director of Esquire Financing, Inc., the Cullinan Group, TechnoMarine Philippines, Seven Tall Trees Events Company, Inc., and Mobile Group, Inc.
Rex is a member of Bro. Bo Sanchez’ Mastermind Group, and is cited by many as one of the best leadership, business strategy, investments, marketing, and sales speakers in the country. He is the author of two books, Trailblazing Success and Firing On All Cylinders, both certified national bestsellers.
He served as the President & CEO of Philam Life, one of the country’s most trusted financial services conglomerates, and was Chairman of its affiliates and subsidiaries. He was also Senior Adviser to the Chief Executive Officer of the AIA Group.
Prior to this, he was previously Senior Vice President and Chief Marketing and Sales Officer of ALI. He was also Chairman of Ayala Land International Sales, Inc., President of Ayala Land Sales, Inc., and Avida Sales Corporation.
He has a Master’s Degree in Business Management with distinction from the Asian Institute of Management. He was one of the 10 Outstanding Graduates of his batch at the University of the Philippines where he obtained a BSBA degree with a double major in marketing and finance. He was awarded Most Distinguished Alumnus of the UP Cesar Virata School of Business.
He is also a Fellow with Distinction at the Life Management Institute of Atlanta, Georgia, USA, a Registered Financial Planner (RFP), and a four-time member of the Million Dollar Round Table (MDRT).
He was a professor of Marketing and Computational Finance at the De La Salle University Graduate School of Business. He taught strategic marketing, services marketing, and services strategy. He has served as Chairman of the Marketing Department and was awarded as one of the University’s most outstanding professors.
Surendra M. Menon | Independent Director, Singaporean, 66, was appointed as Independent Director of ALI in April 2023. He has served as an Independent Director of Ayala Land, Inc. since April 22, 2020.
He was the Chief Executive Officer of BPI AIA Life Assurance Corporation. He was also the Regional Head, Bancassurance Group Partnership Distribution of the AIA Group from 2012 to 2016.
He served as Vice President Director and Chief Distribution Officer, Director Bancassurance from and Vice President Business Development AIA Financial (formerly known as AIG Life and AIG Lippo) for the period beginning 2003 to 2016. He was the Vice President, Bancassurance from 1999 to 2003 of DBS Bank – Singapore. He was also the Company Head/Advisor to Owner of PT Binadaya Nusaindah (BDNI Life) (currently called Equity Financial) from 1991 to 1999 while he was Head/Advisor Dana Pensiun Lembaga Keuangan BDNI Bank from 1994 to 1998 PT Bank Dagang National Indonesia (BDNI), and Director of PT GTAsset Management of BDNI from 1995 to 1998.
He held various positions at The Insurance Corporation of Singapore (now Aviva Singapore) from 1982 to 1991.
He obtained his Bachelor of Arts degree majoring in actuarial sciences from Macquarie University in 1981. He became an Associate in financial planning and a member of the Financial Planning Association of Singapore in 2000. He has been a Penasehat Investor (Investment Manager’s License) of BEPEPAM (Indonesian Stock Exchange) since 1995. He completed an Advance Life Assurance Course from Munich Re in 1985 and obtained a Certificate in Actuarial Techniques from the Institute of Actuaries (London) in 1993.
Cesar V. Purisima | Independent Director, Filipino, 62, has served as an Independent Director of ALI since April 18, 2018.
He is an Asia Fellow of Milken Institute, a global non-profit, non-partisan think tank. He is a founding partner at IKHLAS Capital, a pan-ASEAN private equity platform.
He currently serves on the boards of the AIA Group, World Wildlife Fund-Philippines, De La Salle University, Ayala Land, Universal Robina Corporation, Jollibee Foods Corporation, Bank of the Philippine Islands, and the International School of Manila.
He is a member of Sumitomo Mitsui Banking Corporation’s Global Advisory Council and Singapore Management University’s International Advisory Council in the Philippines.
From 2010 to 2016, Purisima was the Secretary of Finance of the Philippines and the Chair of Economic Development Cluster of the President’s Cabinet. He briefly served as Finance Secretary in 2005 and Trade and Industry Secretary from 2004 to 2005. Additionally, he was a member of the Monetary Board of the Philippines Central Bank, and the Governor for the Philippines at the Asian Development Bank and the World Bank. He served as Alternate Governor for the Philippines at the International Monetary Fund.
Under his leadership, the Philippines received its first investment-grade ratings. He was named Finance Minister of the Year seven times in six consecutive years by a number of publications, a first for the Philippines.
Prior to his stints in the government service, he was the Chairman & Country Managing Partner of the Philippines’ largest professional services firm SGV & Co., and was a member of the Global Executive Board and Global Practice Council of Ernst & Young.
Purisima obtained his Bachelor of Science degree in Commerce Major in Accounting and Financial Institutions from De La Salle University in 1979. He earned his Master of Business Administration degree from Kellogg School of Management, Northwestern University, Illinois in 1983.
He was conferred a Knight in the National Order of the Legion of Honour by the French Republic (Chevalier dans l’Ordre National de la Legion d’Honneur) in 2017. In 2016, Purisima was awarded the Order of Lakandula with the rank of Grand Cross (Bayani) for his contributions to the Philippine economy. The Order of Lakandula is one of the highest civilian honors conferred by the President of the Republic of the Philippines.
Mariana Beatriz Zobel de Ayala | Director, Filipino, 34, has been a director of the Company since October 21, 2022.
She is also a Director of AREIT, Inc. She is Senior Vice President at Bank of the Philippine Islands (BPI) driving Marketing and Digital Platforms for the Consumer Bank. She also serves as a board director and/or advisory committee member for several Ayala Group companies, across Ayala Land, AC Health, Ayala Group’s ACTIVE Fund and BPI’s Asset Management and Trust Company.
She was named a board advisor for Asia Partners, a Singapore-based private equity firm with over USD500mn in funding, focused on enabling the next generation of high-growth technology companies in Southeast Asia.
She also serves on the global board of U-Go, which looks to drive education equality in emerging markets by providing scholarship grants to women looking to pursue university education. Together with John Wood, founder of Room to Read, Ms. Zobel de Ayala helped establish the Philippines as the 7th beneficiary market for U-Go. In partnership with Ayala Foundation, U-Go Philippines will aim to enable 1,000 young Filipina women scholars in their pursuit of university education, by 2025.
Before BPI, Ms. Zobel de Ayala was Deputy Head of Ayala Malls, a subsidiary of Ayala Land responsible for just under two million square meters in leasable retail space around the country. In addition to driving Leasing Strategy & Development across the malls, Ms. Zobel de Ayala was responsible for the build-out of Ayala Malls Labs / Digital & Data — a new unit focused on commercializing synergistic opportunities leveraging technology and data.
Prior to this, she worked in Project Development for Alveo Land, and as a Corporate Strategy and Business Development Associate with Ayala Corporation, where she supported portfolio review across the conglomerate and business development interest in the healthcare sector.
Ms. Zobel de Ayala started her career at J.P. Morgan in New York City. She graduated from Harvard College with a BA in Social Studies (Philosophy, Politics, and Economics), and a received a Masters in Business Administration (MBA) from INSEAD.
Arturo G. Corpuz | Director, Filipino, 67, has served as a Director of ALI since April 2016.
He was a member of the Management Committee of ALI from 2008 to December 31, 2016.
He is also a member of the Board of Ceci Realty, Inc. 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 master’s and doctoral degrees in urban and regional planning from Cornell University in 1984 and 1989.