AYALA Corp. announced that Alberto M. de Larrazabal will step down as its chief financial officer (CFO) effective Jan. 1 next year.
Mr. Larrazabal, who is set to retire, will be replaced by seasoned banker Juan Carlos “John-C” L. Syquia, Ayala Corp. said in a regulatory filing on Thursday.
Ayala Corp. also appointed Mr. Syquia as deputy CFO effective May 1 this year. He will support Mr. Larrazabal before taking over the role next year.
“Mr. Syquia will be elected as deputy CFO of Ayala Corp. at the organizational board meeting following the annual stockholders meeting on April 25,” Ayala Corp. said.
Mr. Larrazabal became Ayala Corp.’s CFO in April 2021.
“We are pleased to have John-C join us at Ayala Corp. 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,” Ayala Corp. President and Chief Executive Officer Cezar P. Consing said.
Mr. Syquia is the current executive vice president and head of institutional banking at the Bank of the Philippine Islands (BPI). He has three decades of experience in corporate and investment banking.
Before joining BPI in 2016, Mr. Syquia held leadership roles at ING and Standard Chartered in strategy and business development, and running corporate finance and relationship management businesses.
Mr. Syquia has a Master of Business Administration in Finance and International Business from Fordham University and a Bachelor’s degree in Management Economics from the Ateneo de Manila University.
“I am very honored to join Ayala Corp. I look forward to working closely with Albert and the rest of the senior leadership team to drive Ayala’s pursuit of growth, innovation and nation-building,” Mr. Syquia said.
Ayala Corp. also confirmed the change in designation of Jose Rene Gregory D. Almendras to public affairs principal from senior managing director and public affairs group head, effective Jan. 1.
On Thursday, Ayala Corp. shares climbed by 0.35% or P2 to P572 per share. — Revin Mikhael D. Ochave
