President Ferdinand Marcos Jr. appointed Rafael D. Consing Jr. as the president and chief executive officer (CEO) of the Maharlika Investment Corporation (MIC), Malacañang said on Monday.
Consing currently holds the position of executive director at the Office of the Presidential Adviser for Investment and Economic Affairs.
Before this role, he was the chief financial officer at International Container Terminal Services Inc.
As the president and CEO of the MIC, Consing is tasked with formulating a varied portfolio of investments in both domestic and international financial markets, and other assets that are in line with the Fund's goals.
Consing is also responsible for overseeing and directing the allocation of the initial and subsequent contributions to the Fund in compliance with Republic Act No. 11954, which created MIC.
MIC serves as the primary vehicle for mobilizing and utilizing the Maharlika Investment Fund for investments in transactions aimed at generating optimal returns on investments.
Consing's task is also to accept and manage investment mandates aimed at increasing income for development goals and developing and fostering skills in finance, economics, risk mitigation, good governance, and related areas, consistent with building human resources capacity in the industry.
He is also responsible for implementing international best practices in investing and managing assets in line with the Santiago Principles and other globally recognized standards of transparency and accountability.
In a statement, Malacañang said that Consing has a "profound depth of experience in corporate governance, mergers and acquisitions, corporate finance, global capital markets, stakeholder relations, and business strategy development."
"He is also well-versed in global corporate governance and has had a successful transition from regional investment banking to senior corporate management and government advisory," Malacañang added.
Consing earned his degree from De La Salle University, Manila, and further enhanced his expertise by completing the Emerging CFO: Strategic Financial Leadership Program at Stanford University Graduate School of Business in 2016.
