Cezar Consing named new president of BPI

Investment banker Cezar Consing will become the new president and chief executive of Ayala-led Bank of the Philippine Islands—the country’s most valuable and profitable bank—upon the retirement of banker Aurelio Montinola III in April next year.

Ending years of speculation, the BPI board approved Wednesday the succession plan based on the recommendation of its nomination and personnel and compensation committees. The appointment will take effect immediately following the next stockholders’ meeting on April 18, 2013.

“After an extensive search process, we are very pleased to announce the selection of Cezar (Bong) Consing as the ideal candidate to lead (BPI) in this increasingly complex financial market environment,” said BPI chairman Jaime Augusto Zobel de Ayala.

Consing, 53, has more than 25 years of experience in international finance, particularly in investment banking, commercial banking and private equity. His involvement with BPI started in 1981 when he became the youngest management trainee in the corporate planning department and later moved to corporate banking.

Consing was appointed assistant vice president in 1985. He then joined J.P. Morgan & Co. as a transferee from BPI and built a 20-year career in investment banking while based in Hong Kong and Singapore, the last seven years of which as head or co-head of investment banking for Asia-Pacific between 1997 and 2004.—Doris C. Dumlao