The CFO as Compass: Ayala’s Alberto de Larrazabal and the leadership behind a transforming conglomerate

Ayala Corporation Chief Financial Officer Alberto de Larrazabal brings together technical mastery, values-driven leadership, and a collaborative spirit that is helping steer Ayala through one of its most pivotal moments.

This is why he is the ING-FINEX CFO of the Year.

On November 19, 2025, leaders from across the financial community gathered at Fairmont Makati for an annual tradition: recognizing the ING-FINEX CFO of the Year, the Philippines’ most prestigious honor for chief financial officers. This year, the spotlight fell on Alberto de Larrazabal, Ayala Corporation’s Chief Financial Officer.

For many who know him, the recognition felt inevitable.

But de Larrazabal speaks of the award with characteristic humility. “The role of the CFO comes with a lot of trust placed on you. It is heartwarming to feel that I have been deserving of that trust,” he said during the ceremony.

For someone who now joins a roster of industry trailblazers including Corazon Dizon, Richard Shin, and Grant Cheng, his story is not just about financial stewardship.

It is about the kind of leadership that shapes organizations from the inside out.

Steering Ayala through transformation

The award recognizes de Larrazabal’s pivotal role in guiding Ayala through major transitions—portfolio shifts, new initiatives, and intensified focus on sustainability—while maintaining the group’s operational and governance excellence. The year 2024 marked a record performance for Ayala Corporation, making his leadership even more pronounced.

Ayala President and CEO Cezar Consing outlines de Larrazabal’s influence across three dimensions: process, transaction-level oversight, and corporate strategy.

With an engineer’s discipline, de Larrazabal introduced greater efficiency in areas such as insurance procurement and capital markets access. “He has rationalized how companies go to the capital markets, so our companies don’t bump into each other,” Consing shares.

But beyond processes, de Larrazabal has been central to enabling the growth of next-generation businesses.

Under his stewardship, ACEN accelerated its regional clean energy expansion; Mynt (GCash) strengthened its financial inclusion impact; and AC Mobility built a foundation for the country’s EV transition.

This convergence of vision and execution defines de Larrazabal’s tenure: “It is not easy to rationalize your business and grow at the same time. Albert has managed that,” Consing emphasizes.

Leadership built on empathy and excellence

Inside Ayala, de Larrazabal is known not simply as a CFO, but as a mentor, collaborator, and “culture carrier,” as Consing describes him. He is the kind of leader people seek out for counsel, whether they are senior executives or rising talents.

Chief Human Resources Officer Francisco “Paco” Romero-Milán explains why:

“He genuinely cares about what you’re saying. He is empathetic and supportive, yet demands the highest level of professionalism. That combination is his superpower.”

This duality—warm but exacting, relational but resolute—is echoed by colleagues across the group.

For Martin Lopez, head of investor relations, working with de Larrazabal has been transformative both personally and professionally. “He empowers you,” says Lopez. “He lets you be, but he’ll question you when needed. He brings out the best in people through his words.”

Lopez even calls him a father figure, emphasizing a rare quality in corporate leadership: the ability to inspire trust at every level, from boardroom deliberations to quiet one-on-one moments of mentorship.

Finance as enabler, not gatekeeper

To understand de Larrazabal’s impact, one must see how he reframes the finance function.

“Finance has transformed from gatekeeper to enabler,” he explains. True innovation happens when finance deeply understands the business and uses that insight to empower operations.

De Larrazabal’s perspectives have directly influenced how Ayala integrates Environmental, Social, and Governance (ESG) considerations into investment decisions; how it pioneers social bonds and sustainability-linked financing; and how it embeds responsible governance across the group.

Chief Legal Officer Franchette Acosta highlights that he achieves this “through dialogue, through fairness, and by challenging norms with foresight.”

This is why colleagues describe him as a builder—of systems, of solutions, and of people—not just a financial steward.

The rigorous search for the philippines’ top CFO

The ING-FINEX CFO of the Year Award is not just a recognition; it is the culmination of a multi-stage, months-long process anchored on Deloitte’s “Four Faces of the CFO” model: strategist, catalyst, steward, and operator.

Nominees undergo interviews, document reviews, and evaluation by a Search and Selection Committee before finalists are deliberated on by a Board of Judges composed of industry regulators, academics, past awardees, and business icons.

Standing out in this group—especially in a year marked by sectoral shifts and market complexity—clearly shows the depth and breadth of de Larrazabal’s leadership.

He is now the eighth CFO from the Ayala Group to receive this distinction. This is an affirmation of the group’s long-standing tradition of producing transformative financial leaders.

Legacy grounded in shared success

De Larrazabal attributes his success to collective effort: “This award is as much theirs as it is mine,” he says of his colleagues.

His definition of leadership is clear:

To be a positive influence.

To ensure progress benefits many.

To build teams that can thrive long after he is gone.

And his advice to emerging leaders?

“Be courageous. Finance practitioners will face challenges where solutions may not be obvious. We must work closely across organizations because of the many consequences decisions may bring.”

It is fitting advice from a leader whose career shows exactly how courage, clarity, and compassion can move an entire organization forward.

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