President Ferdinand 'Bongbong' Marcos Jr. has named Rafael Consing Jr. as the Chief Executive Officer (CEO) of the Maharlika Investment Corporation (MIC).

In a statement released Monday, Nov. 13, the Presidential Communications Office (PCO) said Consing is currently an Executive Director of the Office of the Presidential Adviser for Investment & Economic Affairs (OPAIEA).

Among his key responsibilities as CEO of the MIC are as follows:

• 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 in accordance with R.A. No. 11954.

• 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.

• Implement international best practices in investing and managing assets in line with the Santiago Principles and other globally-recognized standards of transparency and accountability.

“Mr. Consing is expected to play a pivotal role in enhancing the corporation's investment strategies and contributing to the economic growth and prosperity of the Philippines,” the PCO said.