Philippine President Ferdinand Marcos Jr has appointed his presidential adviser for investment Frederick Go as his new finance secretary, replacing Ralph Recto who was named his new executive secretary, his office said on Monday. The shakeup comes amid a sweeping investigation into alleged corruption in infrastructure projects, which has caused public anger and weighed on economic growth.

The changes "reinforce the president's commitment to strengthening institutions and improving coordination across government," Presidential Communications Undersecretary Claire Castro told a press conference.

Recto becomes the top aide of Marcos after serving as his finance secretary for nearly two years. Recto previously spent three decades as a lawmaker in the lower house and senate. Go is a former chief executive of a real estate developer who in his presidential advisory role helped lead talks with the United States on trade tariffs. The last cabinet revamp was in May this year when Marcos asked ministers to resign following disappointing performances by administration-backed candidates in the midterm elections.

The latest changes come after the president accepted resignations of Executive Secretary Lucas Bersamin and Budget Secretary Amenah Pangandaman. Budget Undersecretary Rolando Toledo was named officer-in-charge.

Neither Pangandaman nor Bersamin are among those who have been named in the investigation by the anti-graft body.

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