Ayala reshuffles execs, names Urquijo estates head

A new-generation Zobel is stepping deeper into the Ayala Group’s core property business as leadership changes signal a stronger push for integrated urban developments.

Effective mid-April, Ayala Corpopration, the country’s oldest conglomerate, is reshuffling its leadership bench, sending Jaime Z. Urquijo to Ayala Land Inc. to head its urban estates unit.

The move places him at the forefront of developing the group’s key estates in Metro Manila, a segment seen as a major driver of long-term growth.

Continued development of Ayala’s Metro Manila estates

“Mr. Urquijo will lead the continued development of Ayala’s Metro Manila estates as it strengthens its efforts to build sustainable and distinctive urban communities,” Ayala Corp. said.

Urquijo will also join Ayala Land’s management and investment committees and report directly to its president and chief executive officer, Anna Ma. Margarita Dy.

Next generation within the property firm

His appointment expands the presence of the Zobel family’s next generation within the property firm, alongside his sister Paloma Urquijo and cousin Mariana Zobel de Ayala.

Meanwhile, Paolo Maximo F. Borromeo will assume the role of chief social infrastructure officer, concurrent with his post as president and chief executive officer of Ayala Healthcare Holdings Inc.

Ayala said Borromeo “will be responsible for optimizing the positive impact of Ayala’s social infrastructure businesses, specifically its healthcare, education and community development and livelihood businesses.”

Executive responsibility

He will also have executive responsibility for the group’s sustainability, state affairs and external communications units.

In 2025, AC net income surged 46 percent to P61.4 billion in 2025, lifted mainly by revaluation gains from fintech arm Mynt and ALI’s sale of its stake in Alabang Commercial Center.

Excluding one-off items, the conglomerate’s core net income rose 7 percent to a record P48.3 billion, driven by stronger earnings from Bank of the Philippine Islands and ALI as well as a turnaround in several emerging businesses.

These gains helped offset weaker contributions from Globe Telecom and AC Energy and Infrastructure Corp.