Augusto Cosio Jr. named new MRC Allied head

MANILA, Philippines — MRC Allied has appointed investment banker Augusto Cosio Jr. as president and CEO of the company, replacing Gladys Nalda who will be in charge of its renewable arm.

MRC named Nalda as president and CEO of Menlo Renewable Energy Corp. (MREN).

Cosio’s appointment shall take effect on Oct. 16, the company said in a disclosure to the Philippine Stock Exchange yesterday.

MRC said the appointment of Cosio is part of the company’s ongoing reorganization and plan to consolidate all assets and portfolio under MRC.

All projects will be implemented by the operating subsidiaries.

Toward this end, the company will continue to pursue renewable energy projects thru MREN.

Cosio is a known investment banker, having gained a wealth of experience in the global capital markets after working in Hong Kong and Singapore for global investment banks such as Deutsche Bank and BNP-Paribas.

He had been the president of the George Ty-owned First Metro Asset Management Inc. for nine years.

In his stint with the First Metro Investment Corp., he steered the creation and the listing of the first exchange traded fund or ETF in the Philippine Stock exchange.