Rafael “Joel” Consing Jr., who served as chief financial officer (CFO) of International Container Terminal Services Inc. (ICTSI) for seven years until his retirement, has accepted a government post under the Marcos administration.
The listed port operator, in a statement, announced that Consing accepted the position as Presidential Adviser on Investment and Economic Affairs.
“During his 15 years at ICTSI, the last seven of which as CFO (chief financial officer), Joel Consing has made a very significant contribution to the success of the business, and we have accepted his retirement with regret. 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,” ICTSI chair and president Enrique Razon Jr. said.
Prior to joining ICTSI, Consing had extensive experience in the financial sector having worked for HSBC, Bankers Trust Company and Multinational Investment Bancorporation. He was also vice president and treasurer for Aboitiz & Co. Inc. from 1993 to 1995.
Emilio Manuel Pascua, who was vice president for global mergers and acquisitions, replaced Consing as CFO.
‘Great asset’
“His experience will be a great asset to the business, and we look forward to working with him to continue to deliver value to all of ICTSI’s stakeholders,” Razon said of Pascua.
Pascua joined the listed company as director of corporate finance in 2013. In 2020, he was appointed as head of mergers and acquisitions.
The new CFO served various roles in finance and business development in the container terminal sector and infrastructure project financing before joining the company.
Pascua earned a Master in Business Administration from the Wharton School, University of Pennsylvania in 2003.
Meanwhile, ICTSI announced that executive vice president Christian Gonzalez took on the new role as compliance officer. Senior vice president Sandy Alipio was designated as the new chief risk officer.