The Ayala group is set to cancel the services of its financial arm, Bank of the Philippine Islands.
Three publicly-listed subsidiaries of Ayala – ACE Enexor (ACEX), ACEN and AREIT – announced that they were dropping BPI Stock Transfer Office (BPI STO) on January 31, 2023.
ACEX, ACEN and AREIT said they would shift to Stock Transfer Services, Inc. starting February 1.
Ayala said this was part of a “group wide initiative to transition to a more advanced system.