ACEN Corp., the energy arm of the Ayala Group, said Thursday its board has appointed Jonathan Back, currently chief strategy officer, as chief finance officer. The appointment takes effect January 1.
Back, who will keep his role as CSO, will replace Maria Corazon Dizon who will retire as CFO at the end of 2023 after nearly four years in office. Dizon, who also held other roles in ACEN including treasurer and comptroller, was instrumental in the energy company’s various debt issuances, including its $400 million maiden green bonds and most recently the P10 billion maiden peso bonds.
Back is a banker and lawyer with over 25 years of experience in the legal, investment banking, and private investment sectors with significant experience in equity capital markets, corporate finance, and in advising on large infrastructure, power, and telecom projects.
He was previously a director and Executive Chairman of BPI International Finance Ltd., the Hong Kong banking subsidiary of Bank of the Philippine Islands and co-head of Wealth Management and head of international businesses of BPI. Back was also an executive director in Goldman Sachs, Hong Kong and managing director and head of Asian Equity Capital Markets in JP Morgan, Hong Kong.
He holds a Bachelor of Civil Laws degree from the University of Oxford, where he graduated with first class honors. He also received first class honours in the solicitors’ final exam.
The board of ACEN also approved the issuance of corporate guarantees in support of the $352 million in debt to be raised by ACEN Cayman to fund payment obligations, and $70 million equity investment in the company subsidiaries, ACEN International, Inc. and ACEN Renewables International Pte. Ltd.
