Investment and Economic Affairs adviser Rafael Consing Jr. named Maharlika PCEO

MANILA, Philippines — President Ferdinand Marcos Jr. appointed Rafael Consing Jr. as the President and CEO (PCEO) of the Maharlika Investment Corporation (MIC), the Presidential Communications Office announced on Monday. 

Consing, who is the executive director of the executive director of the Office of the Presidential Adviser for Investment & Economic Affairs, will now supervise the operations and internal administration of the MIC.

The PCEO is also responsible for “managing risk, financial performance, human resources, accounting, and legal affairs.”

Before his government post, Consing was the senior vice president and chief financial officer of Enrique Razon’s International Container Terminal Services, Inc.

Consing's appointment came days after the revision of the implementing rules and regulations (IRR) of the Maharlika Investment Fund.

In the revised IRR, the president has the power to accept or reject nominees for director positions and PCEO shortlisted by the advisory body.

The revised IRR also stripped the requirement of the PCEO of having additional educational requirements. 

In the prior IRR, the president and CEO were required to possess an advanced degree in finance, economics, business administration, or a related field from a reputable university. — with reports from Kristine Daguno-Bersamina, Alexis Romero and Louise Maureen Simeon.