Founded in the Philippines by Domingo Róxas and Antonio de Ayala during Spanish colonial rule, it is the country's oldest and largest conglomerate.

The company was responsible for the urban development of Makati after World War II under the leadership of Col. Joseph Ralph McMicking, who was married to Mercedes Zobel de Ayala.

[10] In 2011, Ayala Corporation began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power and Sta.

In January 2006, the board of directors publicly announced the decision by Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006.

His eldest son, Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son, Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer.