Rafael Consing takes oath as first Maharlika Investment Corporation chief

President Ferdinand Marcos Jr. on Friday administered the oath of office to Rafael Consing Jr., the first-ever president and chief executive officer of the Maharlika Investment Corporation (MIC).

Consing, who previously served as executive director of the Office of the Presidential Adviser for Investment and Economic Affairs, will have a term of three years. 

According to the Presidential Communications Office, Consing discussed with Marcos his plans in his first 100 days as chief of the state corporation, which will handle the Maharlika Investment Fund (MIF).

Consing laid out the MIC’s priority investments, such as tourism infrastructure, agri-forestry, energy security, digital infrastructure, and financial services, as well as the support needed to operationalize the state corporation, the PCO said.

Being the CEO of the MIC, Consing is tasked with establishing a diversified portfolio of investments in local and global financial markets and other assets aligned with the MIF’s objectives.

He will also be responsible for managing and investing the capital and future contributions to the MIF under Republic Act 11954, as well as handling investment mandates to increase income for development goals.

Moreover, Consing is expected to develop and foster skills in finance, economics, risk mitigation, good governance, and related areas, consistent with building human resources capacity in the industry.

The MIC serves as the primary vehicle for mobilizing and utilizing the MIF for investments in transactions aimed at generating optimal returns on investments.

The MIC's responsibilities include governing and managing the MIF in accordance with the objectives and purposes outlined in RA 11954, as well as other relevant laws, rules, and regulations.

Consing was appointed early this year as OPAIEA executive director under the Marcos administration.

He was responsible for running the day-to-day operations of OPAIEA, which drives the timely delivery of investment projects and provides policy recommendations to advance the President's investment and economic agenda.

Consing was also the senior vice president, chief financial officer, and compliance officer of International Container Terminal Services, Inc. (ICTSI).

He was also the director and treasurer of Subic Bay International Terminal Corp., Subic Bay International Terminal Holdings, Inc., ICTSI Subic Inc., Cordilla Properties Holdings, Inc., IW Cargo Handlers, Inc., IWI Container Terminal Holdings, Inc., Cavite Gateway Terminal, Inc., and the treasurer and chief financial officer of Terra Renewables Holdings, Inc. and Terra Solar Philippines, Inc.

A graduate of De La Salle University, Consing is also an alumnus of the Emerging CFO: Strategic Financial Leadership Program of the Stanford Graduate School of Business. —VBL, GMA Integrated News