Ayala Corporation announced appointment of Estelito C. Biacora as Treasurer Effective Date is Nov. 11, 2018. Mr. Biacora has replaced Ms. Ma. Cecilia T. Cruzabra who has resigned as Treasurer effective October 31, 2018, to become the Chief Finance Officer, Treasurer, Group Director for Corporate Finance and Strategy, and Compliance Officer of Manila Water Company Inc. The appointment of Mr. Biacora supersedes the designation as Acting Treasurer effective November 1, 2018, of Mr. Jose Teodoro K. Limcaoco, Chief Finance Officer, Finance Group Head, Chief Risk Officer and Chief Sustainability Officer.