De Larrazabal joins Manila Water as director

MANILA, Philippines — The board of Manila Water Company Inc. has elected Ayala Corp. CFO Alberto de Larrazabal as director, replacing Fernando Zobel de Ayala.

Larrazabal’s appointment took effect last Sept. 30, Manila Water said in a disclosure to the Philippine Stock Exchange yesterday.

He will serve the unexpired term of Zobel de Ayala who resigned on Sept. 12 due to health reasons.

De Larrazabal, 66, is a senior managing director, CFO, chief risk officer, chief sustainability officer, and finance group head of Ayala Corp. since April 23, 2021.

He is also a member of the Ayala Group management committee and holds various positions in other subsidiaries.

Prior to joining Ayala, De Larrazabal was Globe Telecom Inc.’s chief commercial officer (CCO).

As CCO, De Larrazabal oversaw the integration and execution of Globe’s strategies across all commercial units, including marketing, sales and channels, and product development for all segments of business.

He joined Globe in June 2006 as head of the treasury division and became its CFO in April 2010 then CCO in November 2015.

He had over two decades of extensive experience as a senior executive in finance, business development; treasury operations, joint ventures, mergers and acquisitions, as well as investment banking and investor relations.

Prior to joining Globe, he held such positions as vice president and CFO of Marsman Drysdale Corp., vice president and head of the consumer sector of JP Morgan, Hong Kong, and senior vice president and CFO of San Miguel Corp.

He holds a Bachelor of Science degree in Industrial Management Engineering from De La Salle University.

Meanwhile, Manila Water COO for the East Zone Abelardo Basilio is retiring effective Nov. 30 and will be replaced by group director for operations Arnold Jether Mortera starting Dec. 1.