Nominations Committee

The Nominations Committee ensures that the Board of Directors is made up of individuals of proven integrity and competence, and that each possesses the ability and resolve to effectively oversee the bank in their capacity as Director and member in their respective board committees. This committee also reviews and evaluates the qualifications of all persons nominated the Board.

Our Board Diversity Policy sets out the bank's approach to realize diversity on its Board of Directors on an on-going basis. We recognize and embrace the benefits of a diverse board, and see it as an essential element to maintain sound corporate governance, realize sustainable and balanced development and achieve strategic objectives. The Nomination Committee ensures board diversity, considering varied aspects including but not limited to gender, age, cultural and educational background, geographical location, professional experience, skills, knowledge, and length of service of directors, and other regulatory requirements. The board likewise strives to ensure independence and appropriate representation of women in the Board.

Measurable Diversity Objectives or Targets
Best practice under the SEC Code of Corporate Governance for Publicly-Listed Companies recommends the establishment of measurable objectives or targets for board diversity. In this respect, below are the Board’s diversity goals, considered as rolling targets over a 5-year period. Together with the Board Skills and Expertise Matrix, these are reviewed annually and updated as needed:

1. Number of Female Directors on the Board: At least 2
2. Target Number of Independent Directors on the Board: At least 5
3. At least 1 director with knowledge of IT systems and technology governance in the financial services industry
   
4. At least 1 director with marketing and customer management expertise

Progress towards these goals is also made through:

• Increasing the number of female candidates considered for shortlisting as nominees for election of the board of directors at the annual stockholders’ meeting.
• Regular review of a list of retired bank employees for consideration of directorship positions within parent, subsidiaries and affiliates.
• Close coordination within Ayala Group of Companies for information on and shortlisting of independent candidates.
• Liaison and relationship development with regulators for information on possible candidates for directorship.
• Use of professional search firms/industry databases and associations to shortlist candidates.

Click here to read the bank's Board Diversity Policy in full.