PRESIDENT Ferdinand R. Marcos Jr., has named Rafael Consing Jr. as the president and chief executive officer for the Maharlika Investment Corp.

According to a statement from Malacañang, it governs and manages the Maharlika Investment Fund. 

The Palace statement said that Consing would have the following responsibilities: Establish a diversified portfolio of investments in local and global financial markets and other assets that align with the Fund's objectives; Manage and invest the initial and future contributions to the Fund; Accept and manage investment mandates aimed at increasing income for development goals; Develop and foster skills in finance, economics, risk mitigation, good governance, and related areas, consistent with building human resources capacity in the industry; and Implement international best practices in investing and managing assets in line with the Santiago Principles and other globally-recognized standards of transparency and accountability.

"The PCEO, appointed by the President of the Philippines for a term of three years, will ensure that MIC continues to make significant contributions to the nation's long-term economic prosperity," the Presidential Communications Office said in the statement.

Also, Consing who is the current executive director of the Office of the Presidential Adviser for Investment and Economic Affairs (OPAIEA), will maintain in "driving the timely delivery of investment projects, and providing policy recommendations to advance the President's investment and economic agenda."

Prior to his appointment, Consing had served as:Senior Vice President & Chief Financial Officer of International Container Terminal Services, Inc.; Managing Director roles at HSBC Hong Kong and HSBC Singapore; Vice President and Treasurer for Aboitiz & Co., Inc. and Aboitiz Equity Ventures, Inc.

The PCO also said that Consing has "profound depth of experience in corporate governance, mergers and acquisitions, corporate finance, global capital markets, stakeholder relations, and business strategy development." 

"He is also well-versed in global corporate governance and has had a successful transition from regional investment banking to senior corporate management and government advisory," it added.