Maharlika Investment Corp. has significantly strengthened its leadership team with the addition of two highly respected figures from the banking world: Rolando G. Peñaflor and Enrico S. Cruz.
Peñaflor assumes the role of regular director, poised to contribute his expertise over a three-year term, while Cruz will serve as an independent director, bringing an unbiased perspective to the fund’s strategic decisions.
The appointments were formally acknowledged during a recent assembly, signaling a new phase of growth and refinement for the sovereign investment fund. MIC’s President and CEO, Rafael D. Consing, Jr., emphasized the immense value their experience will provide.
Consing stated that their combined knowledge will be crucial as the fund prepares for substantial investments in key sectors driving the Philippine economy, marking a pivotal shift towards active capital deployment.
Peñaflor’s career spans nearly four decades at the Bank of the Philippine Islands, culminating in a Senior Vice-President role in Corporate Banking. Beyond BPI, he has also led several prominent development and production corporations.
Cruz brings an equally impressive 40 years of experience, having served on the boards of ten companies – five publicly traded and five privately held – across diverse industries including finance, retail, real estate, and healthcare.
Further bolstering the leadership structure, Atty. Roderick Sacro, Executive Vice-President of Land Bank of the Philippines, has been appointed as an alternative representative for LBP within the MIC.
These new directors join existing board members, including Finance Undersecretary Ma. Angela E. Ignacio and Development Bank of the Philippines Executive Vice-President Carel D. Halog, creating a robust and well-rounded governing body.
Launched in 2023, Maharlika Investment Corp. stands as the central entity responsible for managing and deploying the resources of the Maharlika Investment Fund – the Philippines’ groundbreaking sovereign wealth fund.
