AREIT, the Philippines’ first REIT, announces the appointment of Alberto M. de Larrazabal as its new president. He succeeds Jose Eduardo A. Quimpo II, who led the company through significant growth and portfolio diversification.
AREIT Inc, the Philippines’ first publicly listed real estate investment trust (REIT), on Wednesday announced the appointment of Alberto de Larrazabal as its new president.
De Larrazabal replaces Jose Eduardo Quimpo II, who is stepping down.
De Larrazabal, the current chief financial officer of Ayala Corp. until the end of the year, has more than two decades of experience in corporate finance, strategy and operations. He has held senior finance roles at Globe Telecom, San Miguel Corp. and JP Morgan Hong Kong.
AREIT chairman Meean Dy said in a statement de Larrazabal’s “strategic insights, financial expertise, and deep understanding of the markets and our ecosystem makes him the ideal leader to continue to drive the execution of AREIT’s growth and diversification plans.”
Quimpo oversaw the increase of the company’s assets under management from P87 billion to a projected P138 billion. His tenure included a P21-billion infusion that expanded the company’s portfolio.
The transition reflects AREIT’s commitment to leadership development and succession planning, the company said.
