ICTSI's Consing tapped as Marcos' adviser on investment, economic affairs

The long-time chief financial officer of ports magnate Enrique Razon Jr.’s International Container Terminal Services Inc. (ICTSI) has stepped down from his position to take on a new role as President Ferdinand "Bongbong" Marcos Jr.'s adviser for economic affairs and investment.

In a disclosure to the Philippine Stock Exchange, ICTSI announced that its CFO and compliance officer Rafael Consing Jr., who held the position for over 15 years, is retiring from his role "with immediate effect."

"Mr. Rafael D. Consing Jr. (Joel) has accepted his nomination to a position in the Office of the Presidential Adviser on Investment and Economic Affairs, Office of  the President of the Republic of the Philippines," the company said.

Consing will be replaced by Emilio Manuel Pascua as ICTSI's chief financial officer.

ICTSI said Pascua joined the company in 2013 as director of corporate finance. He was appointed director, head of mergers and acquisitions in 2020, and was promoted to vice president for global mergers and acquisitions in 2021.

”During his 15 years at ICTSI, the last seven of which as CFO, Joel Consing has made a very significant contribution to the success of the business, and we have accepted his retirement with regret," said Razon, the chairman and president of ICTSI.

"At the same time, we are happy that Joel will be moving on to an important role of national responsibility within the Office of the President of the Republic of the Philippines. I congratulate Joel on this new role outside of ICTSI," he added.  —KBK, GMA Integrated News