President Marcos has appointed Rafael Consing Jr. as the president and CEO of Maharlika Investment Corp. (MIC), overseeing the country’s first sovereign wealth fund.
Consing, known for his expertise in corporate governance and finance, will lead MIC for three years.
His role involves establishing a diversified investment portfolio aligned with Republic Act 11954.
The MIC board, headed by the finance secretary, includes key officials and private sector directors.
The revised IRR, supported by the economic team, aims to strengthen corporate governance. The MIC, with an $8.9 billion authorized capital stock, is poised to be operational by yearend.
(ai/mmm)