The reality of financial services today is a state of dynamic and, perhaps, perpetual change. Transformative factors are affecting the business for the long-term, whether it be through regulation, market disruption, innovative technologies, new business models or other forms of competitive pressure. The Board understands that the Bank must continually evolve, adapt and restructure the business to remain ahead of these strategic shifts. Through its Personnel and Compensation Committee (PerCom), the Board manages the talent pipeline and assembles the right executive and leadership group capable of navigating such changing conditions.

In consultation with the President and CEO, the PerCom reviews the talent development process within the Bank to ensure it is effectively managed. Senior management provides a report to PerCom on the results of its talent and performance review process for key management positions and other high potential individuals, toward ensuring a sufficient pool of qualified internal candidates to fill senior and leadership positions and to identify opportunities, performance gaps and next steps as part of the Bank's executive succession planning, development process.

In the same manner, in consultation with the Board and the President and CEO, the PerCom evaluates and nominates potential successors to the President and CEO.

Our Bank’s effective succession planning has ensured leadership continuity within the last two decades, witnessing three President and CEO changes, marked by early planning and mentoring, smooth organizational and operational transitioning and prudent but progressive institutional building at BPI and across the BPI group. Our Board is likewise regularly refreshed in a continuing cycle to remain relevant, agile and anticipatory of future programs and directions.