The Chief Financial Officer of Ayala Corp. epitomizes the 'four faces of the CFO' as he has been recognized as the ING-Finex CFO of the Year for 2025.
At its core, a company's chief financial officer (CFO) is the leader charged with the responsibility of protecting the financial health and integrity of an organization. This means ensuring that the books and balance sheets tell the truth, risks are understood, and resources are used wisely toward company goals.
But modern business doesn't just reward caregivers, at least not anymore. As the scope of operations expands and becomes more complex, today's CFO must also point the enterprise toward growth, transformation, and long-term value creation. Acting as an anchor for the company, this role demands discipline and foresight in equal measure, as the company depends on the CFO to weigh every decision it makes between opportunity and risk.
This is the logic behind the framework used in the country's most respected CFO assessment: the “Four Faces of the CFO,” developed by Deloitte and adopted as the basis for the ING-Finex CFO of the Year Award.
This model gives a complete overview of what makes a CFO today. As the operator, the CFO ensures that financial processes run with accuracy and consistency. As managers, they maintain governance, control, and accountability. As strategists, they help set long-term direction. And as catalysts, they drive change and alignment throughout the organization.
Competent CFOs can master two or three. Only a few leaders excel in all four.
This year, Ayala Corp. Chief Financial Officer Alberto de Larrazabal was recognized as someone who does just that, as he was named 19th.th ING-Finex CFO of the Year, the Philippines' premier honor for outstanding chief financial officers.
This year's award was given to Mr. de Larrazabal in recognition of his exemplary leadership in guiding Ayala Corp. through major transformations with sustained operational and governance excellence while nurturing a strong culture of collaboration throughout the organization. These combined contributions, reinforced by Ayala's record performance in 2024, gave him standing in the rigorous evaluation process.
he is 19thth Recipient of the award and the eighth from the Ayala Group to earn this distinction.
Mr. de Larrazabal's leadership has been central in guiding Ayala Corp. through one of its most dynamic periods. In addition to being assessed across all 'Four Faces', he was credited for his performance during Ayala's record year in 2024, which he achieved as the group made major portfolio changes and wide-ranging organizational changes.
Nominees were first evaluated by the Search and Selection Committee (SSC) through detailed interviews and documentation reviews. From this pool, the finalists were endorsed by a Board of Judges (BoJ), consisting of respected leaders from regulatory bodies, the Academy, former award winners and business luminaries. The BOJ then conducted final interviews and deliberations before selecting the winner. This multi-step process ensures that the award recipient 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 an enduring partnership between Dutch financial giant ING Bank NV 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.th The year to recognize excellence and inspire future generations of Philippine financial leaders.
Advocating honesty in a gray world
Amid the recognition, Mr. de Larrazábal offered a leadership perspective that reflects the complexity of his role.
“The role of CFO comes with a lot of trust placed on you. It's nice to feel that I deserve that trust,” he said at the awards ceremony held Nov. 19 at the Fairmont Hotel in Makati City.
“We are in a unique position to see everything and be fully integrated. The key thing will be to provide that input to the rest of the business, so that better business decisions can be made.”
In his words, the modern world is “a mass of grey”, something that has become largely ambiguous, rapidly changing and difficult to navigate. For him, the only reliable guideline in that environment is character.
“It's really about using honesty as a way to navigate this. Honesty is our north star. You walk the talk,” Mr. De Larzabal said.
He said that principle has guided his approach as finance has evolved from a back-office custodian to a visionary partner in strategy and implementation. The role has changed from “gatekeeper” to “enabler,” he said, requiring finance leaders to not only protect the enterprise but advance it.
“This perspective, always provides insight and perspective. This is the key role that finance plays, so that the outcomes, the decisions, can be better considered,” Mr. de Larrazabal said.
His colleagues at Ayala Corp. praised his success in balancing this important role at the firm.
“Albert has been CFO at a time when we have made a lot of changes in our portfolio. Now we are doing things that we had not done before. It is not so easy to rationalize your business and grow at the same time, and Albert has managed it,” said Cesar P. Consing, Chairman and CEO of Ayala Corp.
“You can be a good CFO, a good leader, or a good director or president, but finding someone who can do all of these things with the highest standards is hard to find. That's why we're lucky to have Albert,” said Ayala Corp. Chief Human Resources Officer Francisco Romero Milan.
“Albert's impact at Ayala is not only lasting, but also transformational. As CFO, he is known not only as a gatekeeper, but as a builder of businesses and solutions. He is also known as an enabler throughout the group,” said Ayala Corp. Chief Legal Officer Franchette Acosta.
Looking ahead, Mr. de Larzabal hopes his legacy will be defined less by transactions and numbers than by the people he shaped. For him, true leadership means ensuring that the benefits of progress are realized collectively, strengthening 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 information about solutions. It's our responsibility as senior management to enable that conversation, to provide perspective and guidance and, at the same time, provide a safe space so people feel free.”
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