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Do we like Ayala Corporation?

Philippine conglomerate with stakes in property, banking, telecoms, water, energy and more. Based in Makati, Philippines.

Our score: 6 out of 10. A big, long-established group with decent governance credentials and no major recent fines in our searches. Past land and water disputes stop us from rating it higher.

Ayala Corp is one of the Philippines' oldest and biggest family conglomerates. It holds stakes in property (Ayala Land), banking (BPI), telecoms (Globe), water (Manila Water) and energy (ACEN). The Zobel de Ayala family is behind it.

Jaime Augusto Zobel de Ayala is chairman. Cezar "Bong" Consing has been president and CEO since 2022. In April 2026 Zobel stepped down as Globe chairman, and Consing took that seat.

There have been rows. In 2017, SunStar reported that Laguindingan farmers accused Ayala of not honouring promises of compensation made when it bought land near the airport. In 2019, then-President Duterte repeatedly attacked Ayala and its Manila Water unit over the water contracts.

On the plus side, a 2025 release said Ayala ranked among the top 50 ASEAN firms for corporate governance and in the top five Philippine firms. We found no recent big fines. We'd call it a middling-to-decent backer, but our searches were thin.

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