Fernando Zobel de Ayala was elected as a Director of the Board of the Bank of the Philippine Islands (BPI) on September 20, 2023, replacing Romeo L. Bernardo, who had resigned effective September 12, 2023 in view of his appointment to the Monetary Board of the Bangko Sentral ng Pilipinas (BSP). Zobel was also appointed as a member of the Executive Committee and Personnel and Compensation Committee vice Bernardo. With his election to BPI's board of directors, which is subject to confirmation of the Monetary Board, Zobel will no longer be a member of the bank's Advisory Council.

Zobel, who previously served as BPI's Vice-Chairman from April 2013 to September 2022, was first elected to BPI's board in October 1994. Mr. Zobel serves as special advisor to the Board of Directors of Ayala Corporation and Ayala Land Inc. He is an independent director of Shell Pilipinas Corporation (formerly Pilipinas Shell Petroleum Corporation) and chairman of Alabang Commercial Corp., Accendo Commercial Corp. and Ayala Foundation Inc. He is the vice-chairman of AC Ventures Holdings Inc., and a director of AC International Finance Ltd. and AG Holdings Ltd. He also serves as member of the board of trustees of Pilipinas Shell Foundation.

He holds a liberal arts degree from Harvard College and a Certificate of International Management (CIM) from INSEAD, France.