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Not yet a member? Sign-up here. The 2011 ING FINEX CFO of the Year Award recognized another ‘Super CFO’ in the person of Jaime Ysmael, the Chief Finance Officer (CFO) of Ayala Land, Inc. (ALI).
The 51-year-old CFO of the country’s largest real estate developer joins an elite circle of CFOs that counts Delfin Gonzalez, Jr., who won in 2007 when he was CFO of Globe Telecom; Sherisa Nuesa, who got the award in 2008 when she was CFO of Manila Water Company; Jose Sio of SM Investments Corporation in 2009; and Ysmael Baysa of Jollibee Foods Corporation in 2010. This is the fifth year that Dutch financial giant ING Bank’s Manila branch and the Financial Executives Institute of the Philippines (FINEX) have been honoring heroes of the boardroom. The Award recognizes “super CFOs” for their excellence, strong leadership and stewardship that have helped steer their organizations toward financial stability, benefitting not just their stakeholders, but also the Philippine economy. The award also raises the bar for those who go beyond the numbers. “More than the business acumen, regulatory and communication excellence, and financial expertise, we are looking for CFOs who make a difference, both in their professional as well as personal capacities,” said Consuelo Garcia, country manager of Dutch financial giant ING Bank in Manila, which has been sponsoring the award since it partnered with the Financial Executives Institute of the Philippines (FINEX) in 2007. This criterion makes the search for the ING FINEX CFO of the Year tougher every year, Ms. Garcia added. “While we have many exceptional CFOs, we’re always looking for someone who has that ‘X’ factor to make things happen, not just within their corporate walls, but in society. This year, wWe are fortunate to have found these qualities in Ayala Land CFO Jaime Ysmael.” During the awarding ceremony held at the Rigodon Ballroom of The Peninsula Manila on November 16, 2011, Mr. Ysmael urged his fellow finance professionals to live up to the new expectations and new roles of today’s CFOs “and at the same time search for that higher purpose that allows us to share our many blessings and give back to society in whatever shape or form. This way we can be effective stewards, not just of our own companies, but for society as a whole for the good of future generations.” The road to being ‘Super CFO’ was long and hard for Mr. Ysmael, who came from a public school and lived on stipends from scholarships to finish college. He graduated Summa Cum Laude from the University of the East with a degree of Bachelor of Science in Business Administration, Major in Accounting. As a CPA board placer, he caught the eye of SyCip, Gorres, Velayo & Co. (SGV), the country’s biggest auditing firm, which eventually sent him on a scholarship to the University of Pennsylvania where he earned two degrees: an MBA degree (Major in Finance) from The Wharton School, and a Master of Arts degree in International Studies (Concentration in Latin America) at the School of Arts and Sciences of the University of Pennsylvania, as a Fellow of the Joseph H. Lauder Institute of Management and International Studies. As CFO of ALI, which has over P200 billion in market capitalization and more than 100 subsidiaries and affiliates, he has gone beyond the traditional finance function and now handles other areas such as risk management, project control, business information systems and even supply chain management. He also serves concurrent operating and advisory posts in ALI, which include being the compliance officer, chairman of the board of the accounting shared service subsidiary which he formed, member and chairman of various management sub-committees, and member of the board of directors of various subsidiaries and affiliates. This year’s Board of Judges was comprised of distinguished individuals in the academe and business circles: University of the Philippines President Alfredo E. Pascual, who chaired the panel; Atty. Teresita J. Herbosa, Chairperson of the Securities and Exchange Commission; Hans B. Sicat, President and CEO of the Philippine Stock Exchange (PSE); Dr. Renato Paras, a multi-awarded accountant who has been elevated to the Accountancy Hall of Fame; Atty. Richard Ferrer, an accomplished lawyer and management man who has served top posts in the private sector and the government; and Ms. Garcia of ING Bank. |
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