Ayala, one of Asia's oldest conglomerates, wants to keep itself together. Its CEO explains why | Fortune

Cezar Consing, CEO of Ayala Corporation and the first non-family executive to lead the Philippine conglomerate, says he took the role as an “emergency” after Fernando Zobel de Ayala resigned for health reasons. Consing now defends keeping the diversified group intact even as corporate break-ups have gained momentum in the West. He points to Ayala’s broad portfolio spanning banking, real estate, telecoms and energy, and argues that the parent company must demand more value from units through better dividends. After record profits last year, Ayala started 2026 with net income down 7% to 22.1 billion pesos in the first six months, while Ayala Land profit fell 19%.