TAGUIG CITY, PHILIPPINES – The Maharlika Investment Corporation (MIC) is pleased to announce the appointment of two veteran banking and finance leaders to its Board of Directors: Mr. Rolando Peñaflor as Regular Director and Mr. Enrico Cruz as Independent Director.
The appointments, recently announced by Malacañang, reinforce the Corporation’s commitment to robust governance, institutional independence, and the pursuit of long-term value for the Filipino people.
The new directors were formally welcomed during MIC’s weekly assembly. Also assuming his role as alternative representative of LandBank of the Philippines (LBP) is Atty. Roderick Sacro, Executive Vice President of LBP. They join existing board alternate representatives Usec. Ma. Angela E. Ignacio of the Department of Finance and EVP Carel D. Halog of the Development Bank of the Philippines.
Mr. Rolando Guray Peñaflor will serve as Regular Director for a three-year term, offering a wealth of experience in corporate banking, remedial management real estate and film production. He previously served as Senior Vice President in Corporate Banking at Bank of the Philippine Islands for 38 years and as President of Ja𝗿diniano Development Corporation, Aspirea Development Corporation and Oro de Siete Productions.
Mr. Enrico Salonga Cruz joins as an Independent Director, bringing 40 years of experience having served on the board of 5 publicly listed companies and 5 private companies in a variety of industries- Finance, Retail, Real Estate and Healthcare
“Their depth of experience and independent perspective will be invaluable as we continue to build a disciplined, transparent, and globally credible sovereign investment institution,” said MIC President and CEO Rafael D. Consing Jr. “These appointments strengthen our collective expertise as MIC transitions into a period of decisive capital deployment across priority sectors of the Philippine economy.”
Strategic Board Composition
The new members join a formidable leadership team. In July 2025, Stephen CuUnjieng, an internationally renowned investment banker and former Chairman and CEO of Evercore Asia, joined the Board as an Independent Director and currently serves as Chairman of the Investment Committee.
The Board also includes Independent Director Roman Felipe S. Reyes, a highly respected CPA and founding partner of Reyes Tacandong & Co. With over 40 years in corporate governance and auditing, including senior roles at SGV & Co. and Ernst & Young, Mr. Reyes serves as the Chairman of the Audit Committee.
The MIC Board of Directors is chaired by Secretary Frederick D. Go, who brings over 30 years of experience in business leadership, real estate development, and economic policy.
About Maharlika Investment Corporation (MIC)
The Maharlika Investment Corporation (MIC) is the sole vehicle responsible for mobilizing and managing the Maharlika Investment Fund (MIF), the Philippines’ first sovereign wealth fund. Established under Republic Act No. 11954, MIC is tasked with promoting economic development by making strategic investments in high-impact sectors including infrastructure, energy, agriculture, and digitalization. Guided by the principles of transparency, accountability, and good governance, MIC aims to generate optimal returns on investments to support the country’s sustainable, long-term national growth.
