Operator, catalyst, strategist, steward

Ayala Corp. Chief Financial Officer embodies the ‘Four Faces of the CFO’ as he is recognized as ING-FINEX CFO of the Year for 2025.

At its core, the chief financial officer (CFO) of a company is the leader entrusted with protecting the financial health and integrity of an organization. This means ensuring that books and balance sheets tell the truth, risks are understood, and resources are used wisely towards the company’s goals.

But modern business doesn’t reward caretakers alone, at least not anymore. As operations scale and become ever more complex, today’s CFOs must also point the enterprise toward growth, transformation, and long-term value creation. Functioning as an anchor for the company, the role demands discipline and foresight in equal measure, because the company depends on the CFO to weigh its every decision between opportunity and risk.

This is the logic behind the framework used in the country’s most respected CFO evaluation: the “Four Faces of the CFO,” developed by Deloitte and adopted as the basis of the ING-FINEX CFO of the Year Award.

The model captures the full breadth of what makes a CFO today. As Operator, the CFO ensures financial processes run with precision and consistency. As Steward, they safeguard governance, controls, and accountability. As Strategist, they help shape long-term direction. And as Catalyst, they drive transformation and alignment across the organization.

Competent CFOs might master two or three. Few leaders excel in all four.

This year, Ayala Corp. Chief Financial Officer Alberto De Larrazabal was recognized as someone who does exactly that, as he was named the 19th ING-FINEX CFO of the Year, the Philippines’ premier honor for outstanding chief financial officers.

De Larrazabal led Ayala in executing landmark financing deals that combined competitive cost with positive impact.

This year’s award was given to Mr. de Larrazabal in recognition of his exemplary leadership in helping guide Ayala Corp. through major transformations with continued operational and governance excellence while nurturing a stronger culture of collaboration across the organization. These combined contributions, reinforced by Ayala’s record performance in 2024, made him stand out in the rigorous evaluation process.

He is the 19th recipient of the award and the eighth from the Ayala Group to earn the distinction.

Mr. de Larrazabal’s leadership has been central to guiding Ayala Corp. through one of its most dynamic periods. In addition to being evaluated across all ‘Four Faces’, he was credited with his performance during Ayala’s record year in 2024, which he achieved while the Group undertook major portfolio changes and broader organizational transformation.

Nominees were first assessed by the Search and Selection Committee (SSC) through detailed interviews and documentation reviews. From this pool, finalists were endorsed to the Board of Judges (BOJ), composed of respected leaders from regulatory bodies, the academe, past awardees, and business luminaries. The BOJ then conducted final interviews and deliberations before selecting the winner. This multi-tiered process ensures that the awardee exemplifies the highest standards of leadership, integrity, and strategic vision.

The ING-FINEX CFO of the Year Award is the Philippines’ longest-running and only dedicated search that honors outstanding Chief Financial Officers. Established through a permanent partnership between Dutch financial giant ING Bank N.V. and the Financial Executives Institute of the Philippines (FINEX), the country’s premier organization of finance and business professionals, the award celebrates its 19th year of recognizing excellence and inspiring future generations of Philippine financial leaders.

Within Ayala, De Larrazabal is regarded as a mentor and culture carrier, blending warmth with rigor to empower leaders at every level.

Championing integrity in a world of gray

Amid the recognition, Mr. De Larrazabal offered a view of leadership that reflects the complexity of the role he inhabits.

“The role of the CFO comes with a lot of trust placed on you. It’s heartwarming to feel that I have been deserving of that trust,” he said at the awarding ceremony held on Nov. 19 at the Fairmont Hotel in Makati City.

“We are in a unique position to see everything and be completely integrated. The key would be in providing that input to the rest of the business, so that better business decisions are made.”

In his words, the modern world is “a whole mass of grey,” something that has largely become ambiguous, fast-changing, and difficult to navigate. For him, the only dependable compass in that environment is character.

“It’s really about using integrity as a way to navigate that. Integrity is our North Star. You walk the talk,” Mr. de Larrazabal said.

That principle, he noted, has guided his approach as finance has evolved from a back-office guardian to a forward-looking partner in strategy and execution. The role has shifted, he said, from “gatekeeper” to “enabler,” requiring finance leaders not just to protect the enterprise but to move it forward.

“It’s providing perspective, always insights and perspective. That is the major role that finance plays, so that the outcomes, the decisions, are much better thought through,” Mr. de Larrazabal said.

His peers at Ayala Corp. commended his success at balancing this vital role in the firm.

Ayala Corp. President and CEO Cezar P. Consing credits De Larrazabal for successfully helping the company rationalize its business while driving growth.

“Albert has been CFO at a time when we have done so many changes to our portfolio. We’re doing things now that we haven’t done before. It’s not so easy to rationalize your business and grow at the same time, and Albert’s managed that,” said Ayala Corp. President and CEO Cezar P. Consing.

“You can be a good CFO, a good leader, or a good director or chairman, but finding somebody that can do all these things with the highest standards, that’s difficult to find. That’s why we’re lucky to have Albert,” said Ayala Corp. Chief Human Resources Officer Francisco Romero Milán.

“Albert’s impact on Ayala is not only enduring but also transformative. As a CFO, he’s known not just as a gatekeeper but a builder of businesses and solutions. He’s also known as an enabler across the Group,” said Ayala Corp. Chief Legal Officer Franchette Acosta.

Looking ahead, Mr. de Larrazabal hopes his legacy will be defined less by transactions and numbers than by the people he has shaped. For him, true leadership means ensuring that the benefits of progress are felt collectively, reinforcing a culture of collaboration and integrity.

“I’ve always believed that the people closest to the problem are in the best position to give you insights to the solution. It is incumbent on us as senior management to enable that conversation, to provide perspective and guidance, and at the same time, provide a safe space so that people feel free.”