Cezar Consing became Ayala’s CEO in 2025, marking the first time a non-family member leads this Filipino conglomerate founded in 1834. Despite the global trend toward corporate break-ups, Consing wants to keep Ayala’s diversified structure intact, spanning banking, real estate, telecoms and energy. The group posted net income of 22.1 billion Philippine pesos in the first half of 2026, down 7%, with Ayala Land profits falling 19%. Consing is now enforcing stricter fiscal discipline by demanding better dividends from business units and extracting more value at the parent level. Conglomerates remain dominant across Southeast Asia, where they fill institutional voids in emerging economies.
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