Consing heading MIC, Palace confirms

President Ferdinand Marcos Jr. has appointed Rafael D. Consing Jr. president and chief executive officer of the Maharlika Investment Corporation, 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 joining government, he was the chief financial officer at International Container Terminal Services Inc.

As president and CEO of MIC, Consing is tasked with establishing 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 will also be responsible for overseeing and directing the allocation of the initial and subsequent contributions to the fund in compliance with Republic Act 11954, which created the MIC.

The MIC will serve as the primary vehicle for mobilizing and utilizing the Maharlika Investment Fund in transactions aimed at generating optimal returns on investments.

Consing's task is also to accept and manage investments 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.

He will also be 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 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," the Palace added.

Consing obtained an A.B. Political Science degree from De La Salle University, Manila, and enhanced his expertise by completing the Emerging CFO: Strategic Financial Leadership Program at Stanford University Graduate School of Business in 2016.