Ayala Corp. bares CFO transition plan

Ayala Corp. (AC), the country’s oldest conglomerate, has announced key changes in its leadership, with the scheduled retirement of its chief financial officer Alberto de Larrazabal later this year.

Under the CFO transition plan of the group, Bank of the Philippine Islands (BPI) executive vice president and head of institutional banking Juan Carlos Syquia is set to step in as deputy CFO effective May 1, 2025.

He will then assume the CFO role on January 1, 2026, and step into the role that will be vacated by current CFO Alberto de Larrazabal who is set to retire on December 31, 2025.

“We are pleased to have John-C join us at Ayala Corporation. His extensive banking experience, strong financial acumen, and proven leadership give us great confidence that Ayala’s financial leadership will remain in very capable hands,” AC president and chief executive officer Cezar Consing said in a statement.

Syquia brings three decades of experience in corporate and investment banking. Prior to joining BPI, he held leadership roles at ING and Standard Chartered in strategy and business development.

He holds an MBA in Finance and International Business from Fordham University and a Bachelor’s degree in Management Economics from the Ateneo de Manila University.

Larrazabal stepped in as AC CFO in April 2021, after his predecessor Jose Teodoro “TG” Limcaoco moved as president and chief executive officer of BPI.

In the same filing, AC also announced the change in designation of Jose Rene Gregory Almendras from senior managing director and head of the Public Affairs Group to Public Affairs principal effective January 1, 2025.

Almendras served as Secretary to the Cabinet and Foreign Affairs Secretary under the administration of former President Benigno “Noynoy” S.C. Aquino III. — BAP, GMA Integrated News