BIZ BUZZ: ALI gets a new CFO after 8 years

Just as his stint as AREIT Inc.’s president and CEO ended, Jose Eduardo Quimpo II wears another hat.

He officially sat as the chief financial officer and treasurer of AREIT sponsor Ayala Land Inc. (ALI) on Tuesday, succeeding 21-year company veteran Augusto Bengzon.

ALI lauded Quimpo for his “extensive experience” in corporate finance, capital markets and risk management, especially after serving in various leadership roles across the real estate giant and in the banking industry.

Prior to his roles at the Ayala group, Quimpo held senior positions at BDO Unibank Inc. as president of BDO Securities, chief operating officer of BDO Capital and senior vice president of BDO Private Bank. He was also director of BPI Capital.

“As CFO, Quimpo will lead Ayala Land’s financial strategy, capital markets activity, risk management and investor engagement,” ALI said in a statement on Tuesday.

Quimpo has big shoes to fill: Bengzon, who ended his eight-year tenure as ALI’s CFO, leaves his post after shaping the company’s “strong capital position” and helping broaden and diversify its portfolio across multiple real estate asset classes.

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Bengzon, hailed the Best CFO for Southeast Asia by FinanceAsia, will stay at ALI’s leadership team as member of the management committee and director of its subsidiaries.

Cheers to them both!