President Ferdinand Marcos Jr. swore in former Office of the Presidential Adviser for Investment and Economic Affairs (OPAIEA) Executive Director Rafael Consing as President and Chief Executive Officer (CEO) of the Maharlika Investment Corp. (MIC) on Friday.

Consing will have a term of three years as MIC President and CEO.

Shortly after the oath taking ceremony, Consing sat in a meeting with Marcos at the Malacañan Palace where he discussed his plans for the MIC for the first 100 days as the President and CEO of the first-ever sovereign wealth fund.

The topics discussed include the support needed to operationalize the MIC and the priority investment areas such as tourism infrastructure; agri-forestry; energy security; digital infrastructure; and financial services.

Consing is a graduate of De La Salle University in Manila and completed the Stanford University Graduate School of Business’ Emerging CFO: Strategic Financial Leadership Program in 2016.

As MIC President and CEO, Consing is responsible in establishing a diversified portfolio of investments in local and global financial markets and other assets aligned with the objectives of the Maharlika Investment Fund (MIF).

Consing is also responsible in managing and investing the initial and future contributions to the MIF in accordance with Republic Act No. 11954 and in accepting and managing investment mandates to increase income for development goals.

He is also responsible in developing and fostering skills in finance, economics, risk mitigation, good governance, and related areas consistent with building human resources capacity in the industry; and in implementing international best practices in investing and managing assets in line with the Santiago Principles and other globally-recognized standards of transparency and accountability.

Consing shall also work closely with the executive management and the Board, processing extensive experience in corporate management, financial planning strategy, strategic planning and vision, market and business development, budget development and deep understanding of the industry, and will ensure that MIC continues to make significant contributions to the nation’s long-term economic prosperity.

Before his appointment to the MIC, Consing was responsible in running the daily operations of the OPAIEA, driving the timely delivery of investment projects, and providing policy recommendations to advance the President’s investment and economic agenda from January to November 2023.

He also served as Senior Vice President and Chief Financial Officer of the International Container Terminal Services Inc.; HSBC Managing Director; Bankers Trust Company Vice President; Aboitiz & Co., Inc. Vice President and Treasurer; and Multinational Investment Bancorportation Vice President. Presidential News Desk