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Board of Directors

Our Board of Directors is the highest governance body of the bank. It provides direction on the business of the bank and delegates the conduct of such business to the bank's management and operating levels under the leadership of its Chief Executive Officer.


The Board's directive is to generate reasonable returns on shareholder capital by, among others, reviewing and approving strategies and objectives, appointing senior executives, confirming organizational structures, approving enterprise-wide policies, monitoring business and financial performance, overseeing risk management frameworks and risk appetite, and fostering regulatory compliance.


BPI's Board operates with significant independence from its management. Our Chairman has historically been a non-executive and separately appointed from our Chief Executive Officer.

Elected annually by our shareholders, our Board convenes regular meetings in accordance with a monthly cycle, and special meetings may be called for as needed; in 2021, the Board convened 15 times.


Our board consists of 15 directors, five of whom are classified as independent, or having no interest or relationship with BPI at time of election, appointment, or re-election. Fourteen are Non-Executive Directors of the bank, and the one executive director is the bank's President and CEO.


Our board members are business and civic professionals of significant stature, with a track record of accomplishment in their own right, often independent of our bank. They deliver a broad range of experience and expertise on subject matters relevant to the governance of present-day universal banking institutions.


Jaime Augusto Zobel de Ayala


Jaime Augusto Zobel de Ayala

Chairman


Tenure  

  • Appointed Chairman March 2004 to Present  
  • Appointed Vice-Chairman 1995 to March 2004  
  • Appointed a Non-Executive Director March 1990  


Board Committee Membership  

  • Chairman of the Executive Committee  
  • Member of the Nomination Committee  


Age

63, Born 1959  


Nationality

Filipino


Career  

Mr. Zobel serves in the Board of the following Philippine Stock Exchange (PSE) – listed companies, namely: Chairman of Ayala Corporation, Chairman of Globe Telecom, Inc. and Integrated Micro-Electronics, Inc., and Vice-Chairman of Ayala Land, Inc., and AC Energy Corporation (formerly AC Energy Philippines, Inc.). He is also the Chairman of AC Industrial Technology Holdings, Inc., AC Infrastructure Holdings Corporation and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc.; Director of AC Ventures Holding Corp., Alabang Commercial Corporation, AC Energy and Infrastructure Corporation (formerly AC Energy, Inc.), Ayala Healthcare Holdings, Inc., Light Rail Manila Holdings, Inc. and AG Holdings Limited.  


Relevant Skills and Experience  

Chairman Jaime Zobel de Ayala has a distinguished track record as an international businessman. Having been the CEO of Ayala Corporation, a holding company established in 1834, with diverse business interests, a legacy of pioneering the future and aspirations for sustainable national development, Mr. Zobel has received many honors including: World Economic Forum Global Leader for Tomorrow in 1995; Emerging Markets CEO of the year in 1998 (sponsored by ING); Philippine TOYM (Ten Outstanding Young Men) Award in 1999 and Management Association of the Philippines Management Man of the Year Award in 2006. He has a deep understanding of international strategic, commercial and environmental issues, and gained extensive experience as a member of the board of directors of the companies in the Ayala Group in the areas of banking, telecommunications, property development, water distribution, health and education, renewable energy. During his time as Chair, he has been committed to developing and maintaining a strong dialogue with investors and other key stakeholders and has ensured that their views are considered during Board discussions and decision-making. He has also demonstrated a strong commitment to ensuring that the highest standards of corporate governance, ethics and compliance are maintained. Mr. Zobel has a strong commitment to national development, which is reflected in the thrust of the Ayala Group towards new capacity building efforts in strategic sectors such as power and transport infrastructure. In 2007, he received the Harvard Business School Alumni Achievement Award, the school’s highest recognition. He was awarded the Presidential Medal of Merit in 2009, the Philippine Legion of Honor with rank of Grand Commander in 2010, and the Order of Mabini with rank of Commander in 2015 by the President of the Philippines in recognition of his outstanding public service.  


Outside Interests/Commitments  

He is a director of Temasek Holdings (Private) Limited and a member of various international and local business and socio-civic organizations, including the JP Morgan International Council, JP Morgan Asia Pacific Council and Mitsubishi Corporation International Advisory Council. He is a member of the Board of Governors of the Asian Institute of Management, the Advisory Board of Asia Global Institute (University of Hong Kong) and of various advisory boards of Harvard University, including the Global Advisory Council and Asia Center Advisory Committee, HBS Board of Dean’s Advisors, and HBS Asia Advisory Committee. He sits on the board of the Singapore Management University (SMU) and is the chairman of SMU International Advisory Council in the Philippines. He is a member of the Asia Business Council, Asean Business Club Advisory Council, Leapfrog Investment Global Leadership Council, The Council for Inclusive Capitalism, and World Wildlife Philippines. Philippines National Advisory Council. He is the Co-Vice Chairman of the Makati Business Club, Chairman of Endeavor Philippines, and a trustee emeritus of Eisenhower Fellowships.


Environmental, Social, and Governance  

In 2017, he was recognized as a United Nations Sustainable Development Goals Pioneer by the UN Global Compact for his work in sustainable business strategy and operations. The first recipient of the award from the Philippines, he was one of 10 individuals recognized for championing sustainability and the pursuit of the 17 SDGs in business. He was formerly a chairman of the World Wildlife Fund Philippine Advisory Council.  


Education  

He received his B.A. in Economics (with honors) from Harvard University in 1981 and completed his MBA at Harvard Business School in 1987. 


Other Philippine Stock Exchange-Listed Companies

  • Ayala Corporation - Chairman of the Board  
  • Globe Telecom, Inc. - Chairman of the Board  
  • Integrated Micro-Electronics, Inc. - Chairman of the Board  
  • Ayala Land, Inc. - Vice-Chairman of the Board  
  • AC Energy Corporation - Vice-Chairman of the Board 


Fernando Zobel de Ayala

Fernando Zobel de Ayala

Vice-Chairman


Tenure  

  • Appointed Vice-Chairman April 2013 to Present  
  • Appointed a Non-Executive Director October 1994


Board Committee Membership  

  • Vice-Chairman of the Executive Committee  
  • Chairman of the Personnel and Compensation Committee  
  • Member of the Nomination Committee  

He is also a member of the Board of BPI Asset Management and Trust Corporation and Chairman of the Board of Trustees of BPI Foundation, Inc.  


Age

62, Born 1960


Nationality

Filipino  


Career  

Mr. Zobel has been a director of Ayala Corporation since May 1994 and President and Chief Executive Officer from April 2021 to present.  


Relevant Skills and Experience  

Vice-Chairman Fernando Zobel de Ayala also has a distinguished track record as an international businessman as the President and CEO of Ayala Corporation. He is Chairman of Ayala Land, Inc., and AC Energy Corporation (formerly AC Energy Philippines, Inc.); Co-Vice Chairman of Globe Telecom, Inc. and is a director of Integrated Micro-Electronics, Inc. and Manila Water Company, Inc.; and an Independent Director of Pilipinas Shell Petroleum Corp, all PSE-listed companies. He is Chairman of AC International Finance Ltd., Liontide Holdings, Inc., AC Energy and Infrastructure Corporation (formerly AC Energy, Inc.), Ayala Healthcare Holdings, Inc., Alabang Commercial Corporation, Accendo Commercial Corp. and Hero Foundation, Inc.; Co-Chairman of Ayala Foundation, Inc. He is the Vice-Chairman of AC Industrial Technology Holdings, Inc., ALI Eton Property Development Corporation, Ceci Realty Inc., Fort Bonifacio Development Corporation, Bonifacio Land Corporation, Emerging City Holdings, Inc., Columbus Holdings, Inc., Berkshires Holdings, Inc. AKL Properties, Inc., AC Ventures Holdings Corp., and Bonifacio Art Foundation, Inc. He is a Director of LiveIt Investments, Ltd., AG Holdings Ltd., AC Infrastructure Holdings Corporation, Asiacom Philippines, Inc., Ayala Retirement Fund Holdings, Inc., Altaraza Development, Corporation and Manila Peninsula.  


Outside Interests/Commitments  

He is a Director of INSEAD Business School and Georgetown University; Member of the International Advisory Board of Tikehau Capital and of the Hispanic Society Museum & Library International Advisory Council; Vice Chairman of the Philippine Singapore Business Council, member of the World Presidents’ Organization and Chief Executives Organization.  


Environmental, Social, and Governance  

He is member of Habitat for Humanity International’s Asia-Pacific Development Council; Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, and the National Museum; and Member of the Asia Philanthropy Circle and The Metropolitan Museum International Council; and Co-Chair of the Tate Museum Asia-Pacific Acquisitions Committee.  


Education

He holds a liberal arts degree from Harvard College and a CIM from INSEAD, France.


Other Philippine Stock Exchange-Listed Companies

  • Ayala Corporation – Vice Chairman and President and Chief Executive Officer  
  • Globe Telecom, Inc. – Co-Vice Chairman of the Board  
  • Integrated Micro-Electronics, Inc. – Director  
  • Ayala Land, Inc. – Chairman of the Board  
  • Manila Water Company, Inc. – Director  
  • AC Energy Corporation – Chairman of the Board  
  • Pilipinas Shell Petroleum Corp. – Independent Director


Jose Teodoro K. Limcaoco

Jose Teodoro K. Limcaoco

President and CEO


Tenure  

  • Appointed Executive Director April 2021 to Present  
  • Appointed Non-Executive Director from February 2019 to April 2021  


Board Committee Membership  

  • Member of the Executive Committee Management Committee Membership  
  • Chairman of the Credit Committee  
  • Chairman of the Management Committee  

Mr. Limcaoco serves as chairman of BPI’s thrift bank, investment bank, asset management, property and casualty insurance, life insurance, and UK bank subsidiaries, and vice chairman of its leasing and rental, foundation.  


Age

60, Born 1962  


Nationality

Filipino  


Career  

He was appointed as President and CEO of BPI on April 22, 2021. From 2015 to 2021, he was a Senior Managing Director and the Chief Finance Officer, Chief Risk Officer, and Chief Sustainability Officer and Finance Group Head of Ayala Corporation, a PSE-listed company. He was also the President and CEO of AC Ventures Holding Corp. He was also a Director of several Ayala companies, including publicly listed Globe Telecom, Inc., Integrated Micro-electronics Inc., and SSI Group, Inc. He Also served as a director of a number of Ayala group companies including those involved in and the education, energy, infrastructure, industrial technologies, and healthcare. He was also a director of the company that operates Zalora Philippines. He remains a director of Mynt, operator of GCash.  


Relevant Skills and Experience  

Previously, he served as President of BPI Family Savings Bank from 2010-2015 and President of BPI Capital Corporation from 2007-2010. He has also served as Officer-in-Charge for Ayala Life Assurance, Inc. and as Director and Chairman of Ayala Plans, Inc.  


Mr. Limcaoco joined Ayala Corporation as a Managing Director in 1998. His responsibilities prior to his secondment to BPI in 2007 included assistant treasurer of Ayala Corporation, Trustee and Treasurer of Ayala Foundation, Inc., President of myAyala.com, and CFO of Azalea Technology Investments, Inc. He served as the President of the Chamber of Thrift Banks from 2013-2015. He was named as the ING-Finex CFO of the Year in 2018. He has held prior positions with JP Morgan & Co. in Singapore and New York and with BZW Asia.  


Outside Interests/Commitments  

He is the President of FTL Holdings Corporation and a Director of AC Energy International, Inc. (formerly Presage Corporation), Olimpia Condo Corporation, Gym & Sports Pte Ltd., Globe Fintech Innovations Inc. and Just For Kids, Inc., a family business.  


Environmental, Social, and Governance  

He is a Trustee of Ayala Group Club, Inc. and a Past President of the Rotary Club of Makati West.  


Education  

He graduated from Stanford University with a BS Mathematical Sciences degree (Honors Program) in 1984 and from the Wharton School of the University of Pennsylvania with an MBA (Finance and Investment Management) in 1988  


Other Philippine Stock Exchange-Listed Companies

  • None  


Janet Guat Har Ang


Janet Guat Har Ang

Independent Director


Tenure  

  • Appointed Independent Director from May 2021 to Present  


Board Committee Membership  

  • Member of the Risk Management Committee  


Age

62, Born 1959

 

Nationality

Singaporean


Career  

Ms. Janet Guat Har Ang is currently the Chairperson of SISTIC.com and Independent Director at Singapore Press Holdings Limited.  


Relevant Skills and Experience  

Ms. Ang spent 37 years with IBM Singapore and was a member of the IBM Industry Academy. Her last executive role was a IBM Vice President, Head of Industry Solutions and Smarter Cities & Industry Solutions for Asia Pacific from 2015 to 2019. Prior to that she was a Managing Director of IBM Singapore from 2001 to 2015. She is a veteran in the technology industry and has lived and worked in Japan and China for over a decade.  


Ms. Ang was awarded The Public Service Medal in 2019. She was also awarded the NUS Business School Eminent Alumni Award in 2014, the NUS Distinguished Alumni Service Award in 2015, and the Singapore Computer Society IT Leaders Award – Hall of Fame in 2018.  


Outside Interests/Commitments  

She is the Deputy Chairman of the Singapore Business Federation Foundation, and Member of the Board of the Esplanade Company Ltd, and the Home Team Science & Technology Agency (HTX), and the Cenacle Mission Singapore.  


Environmental, Social, and Governance  

She serves as Chairman of the NUS Institute of Systems Science, the Caritas Singapore Agape Fund Board of Trustees, SISTIC.com, and the Singapore Polytechnic Board of Governors.  


Ms. Ang serves on the Council for Board Diversity as well as the Singapore Business Federation, and is a Senior Advisor of the RGE Group and board member of the Tanoto Foundation. She is a Fellow of the Singapore Computer Society, a Fellow of Singapore Institute of Directors and a Member and Past President of the International Women's Forum (Singapore), and an alumnus of the IBM Industry Academy. She has been appointed as Singapore’s Non-Resident Ambassador (Designate) to the Holy See and Nominated MP of the Parliament of Singapore.  


Education  

Ms. Ang graduated with a Bachelor of Business Administration (Honours) from the National University of Singapore.


Other Philippine Stock Exchange-Listed Companies

  • None


René G. Bañez


René G. Bañez

Non Executive Director


Tenure  

  • Appointed Non-Executive Director August 2021 to Present  


Board Committee Membership  

  • Member of the Executive Committee  
  • Member of the Related Party Transaction Committee  
  • Member of the Retirement and Pension Committee  

He is also a member of the Board of Directors of BPI Capital Corporation, BPI Family Savings Bank, Inc., and BPI Asset Management and Trust Corporation.  


Age

66, Born 1955  


Nationality

Filipino  


Career  

Atty. Bañez served in the government as the Commissioner of the Bureau of Internal Revenue (BIR) from February 2001 to August 2002 and as Deputy Commissioner from June 1993 to November 1995. Apart from serving the government, Atty. Bañez also served in the private sector and held senior level positions in Isla Lipana & Co./PwC (formerly Joaquin Cunanan & Co.), Metro Pacific Investment Corporation and PLDT. He was a faculty member at the Ateneo de Manila University College of Law, handling Taxation, from 1990 to 2007.  


Relevant Skills and Experience  

Atty. Bañez spent more than 11 years at accounting firm Isla Lipana & Co./PwC (formerly Joaquin Cunanan & Co.), starting as a Tax Consultant in 1982 until he became Tax Principal (Partner) from 1990 to 1993. Until his retirement from PLDT in 2016, he was Senior Vice President and Head of the Supply Chain, Asset Protection and Management Group, from 2008 to 2016; Senior Vice President and Chief Governance Officer from 2004 to 2007; Corporate Governance Advisor from 2003 to 2004; Senior Vice President, Support Services and Tax Management from 2000 to 2001; and First Vice President, Support Services and Tax Management from 1998 to 2000. Prior to joining PLDT, he was Group Tax Director of Metro Pacific Investment Corporation until 1998.  


Outside Interests/Commitments  

He is senior lecturer at the Ateneo de Manila School of Law.


Environmental, Social, and Governance  

He is also affiliated with the Equestrian Order of the Holy Sepulchre, and is a Member of the Finance Board of the Archdiocese of Manila and Diocese of Pasig. He is also a Board Member/Trustee of Radio Veritas Corporation, Pope Pius Foundation, Catholic Travel Inc., Mirador Jesuit Villa & Retreat House Corporation, Loyola School of Theology Corporation, and Unitas Asia Corp. (a subsidiary of Radio Veritas Asia).  


Education  

Atty. Bañez graduated with a Bachelor of Laws degree in 1981 and his Bachelor of Arts degree in 1976 both from Ateneo de Manila University.


Other Philippine Stock Exchange-Listed Companies

  • None


Romeo L. Bernardo


Romeo L. Bernardo

Non-Executive Director


Tenure  

  • Appointed Non-Executive Director April 2019 to Present  
  • Appointed Independent Director from August 2002 to April 2019  
  • Appointed Non-Executive Director February 1998  

Until 2019, he also served as Independent Director of BPI Capital Corporation, BPI/MS Insurance Corporation, BPI AIA Life Assurance Corporation (formerly BPI-Philam Life Assurance Corporation) and BPI Asset Management and Trust Corporation.  


Age

67, Born 1954  


Nationality

Filipino  


Career  

Mr. Bernardo is a former undersecretary of the Department of Finance and founded his consultancy practice, Lazaro Bernardo Tiu & Associates in 1997.  

 
Relevant Skills and Experience  

Mr. Bernardo has been advisor to various multilateral institutions such as the World Bank, International Finance Corporation, Asian Development Bank, and Japan International Cooperation Agency. He has also worked with government institutions and the National Economic Development Authority (NEDA) in policy matters involving pension reform, capital markets reform, and fiscal and debt management.  


Outside Interests/Commitments  

He is the Chairman of the Board of Directors of the ALFM. family of mutual funds. He also serves as a Board Director of the Management Association of the Philippines and the Finex Foundation.  


Environmental, Social, and Governance  

Mr. Bernardo is a public advocate of good corporate and national governance and frequently writes on the subject in his capacity as Vice-Chairman and Co-Founder of the Foundation for Economic Freedom and the Philippine Partner of Global Source Partners, Inc., a worldwide network providing insights on emerging markets.  


Education  

Mr. Bernardo graduated with a B.S. Business Economics degree (magna cum laude), from the University of the Philippines in 1974. He obtained his M.A. Development Economics (Valedictorian) at Williams College, Williamstown, Massachusetts in 1977.  


Other Philippine Stock Exchange-Listed Companies

  • RFM Corporation - Independent Director  
  • Globe Telecom, Inc. - Non-Executive Director  
  • Aboitiz Equity Ventures, Inc. - Independent Director  


Ignacio R. Bunye


Ignacio R. Bunye

Lead Independent Director


Tenure  

  • Appointed Independent Director April 2016 to Present  
  • He was first appointed as lead independent director in April 2021  


Board Committee Membership  

  • Chairman of the Related Party Transaction Committee  
  • Member of the Corporate Governance Committee  
  • Member of the Personnel and Compensation Committee  

He serves as an Independent Director of BPI Asset Management and Trust Corporation and BPI Direct BanKo, Inc., A Savings Bank, and BPI Capital Corporation  


Age

77, Born 1945  


Nationality

Filipino


Career  

Mr. Bunye was a member of the Monetary Board of the Bangko Sentral ng Pilipinas from 2008 to 2014. He previously held the positions of Presidential Political Adviser in 2008, Presidential Spokesperson in 2003, and Press Secretary in 2002. He began his government service in the City of Muntinlupa (then a municipality) as officer-in-charge and mayor between 1986 and 1998. In a concurrent capacity, he also served as Chairman of the Metropolitan Manila Authority (now Metropolitan Manila Development Authority) between 1991 and 1992, and was a member of the House of Representatives representing Muntinlupa between 1998 and 2001.  


Relevant Skills and Experience  

In earlier years, he worked at the Filipinas Foundation Inc. as Assistant Corporate Secretary from 1970 to 1975, Assistant Vice President of BPI Investment Corporation from 1976 to 1983 and Assistant Vice President for Corporate Banking and Treasury at the Bank of the Philippine Islands from 1983 to 1985. He also held various executive positions at the Ayala Group of Companies, including Assistant Vice President of the Ayala Investment and Development Corporation. Significant awards and recognition received by Mr. Bunye include the Asian Institute of Management Honor and Prestige Award, the Bangko Sentral Service Excellence Medal, the Gran Oden de Isabela Catolica, and the Order of Lakandula (rank of Bayani).  


Outside Interests/Commitments  

A former print and broadcast journalist, he now writes a regular weekly column for Manila Bulletin, Tempo, People’s Tonight, Sun Star, BusinessWeek Mindanao, Panay News and Filipino Reporter (in New York).  


Environmental, Social, and Governance  

During his 12-year stewardship in Muntinlupa, Mr. Bunye founded the Muntinlupa Polytechnic College (now Pamantasan ng Lungsod ng Muntinlupa) and laid the foundation for the establishment of the Ospital ng Muntinlupa (hospital).  


Education  

Mr. Bunye is a member of the Philippine Integrated Bar. He obtained his Bachelor of Arts degree and Bachelor of Laws degree from the Ateneo de Manila University in 1964 and 1969 respectively. He passed the Philippine Bar Examination in 1969.  


Other Philippine Stock Exchange-Listed Companies

  • None 


Cezar P. Consing

Cezar P. Consing

Non-Executive Director


Tenure  

  • Appointed Non-Executive Director April 2021 to Present  
  • Appointed Executive Director April 2013 to April 2021  
  • Appointed a Non-Executive Director February 1995 to January 2000  
  • Appointed Independent Director from August 2004 to January 2007 and from April 2010 to April 2013

Mr. Consing has served on BPI's Board of Directors for 19 years (1995 - 2000, 2004 - 2007, 2010 - present)  


Board Committee Membership  

  • Member of the Executive Committee  
  • Member of the Risk Management Committee 

Mr. Consing is a member of the Board of Directors of BPI Asset Management and Trust Corporation, BPI Capital Corporation, and BPI Direct BanKo, Inc., A Savings Bank.  


Age

62, Born 1959  


Nationality

Filipino  


Career  

Mr. Consing served as President and Chief Executive Officer of Bank of the Philippine Islands (BPI) for eight years from 2013 to 2021, and was also a Senior Managing Director of Ayala Corporation, BPI’s controlling shareholder. Mr. Consing is the chairman of Philippine Dealing System Holdings and its three operating subsidiaries, a position he has held since 2019. Mr. Consing is a director of the following listed companies, namely: Ayala Corporation, Globe Telecom, Inc., and AC Energy Corporation. He is also a director of the Singapore-listed Yoma Strategic Holdings Ltd. and the Myanmar-listed First Myanmar Investment Public Company Limited.  


Relevant Skills and Experience  

Mr. Consing first worked for BPI, in corporate planning and corporate banking, from 1981-1985. He worked for J.P. Morgan & Co., based in Hong Kong and Singapore from 1985-2004. He headed the firm's investment banking business in Asia Pacific from 1997 - 2004, the last five years as President of J.P. Morgan Securities (Asia Pacific) Ltd. As a senior Managing Director of J.P. Morgan, He was a member of the firm's global investment banking management committee and its Asia Pacific management committee. He was a partner at The Rohatyn Group from 2004 - 2013, headed its Hong Kong office and its private investing business in Asia, and was a board director of its real estate, energy, and infrastructure private equity investing subsidiaries.  


Outside Interests/Commitments  

Outside his association with BPI and the Ayala Group, Mr. Consing serves on the board FILGIFTS.com, SQREEM Technologies and Endeavor Philippines. He has also served as an independent board director of the following companies: Jollibee Foods Corporation (2010 – 2021), CIMB Group Holdings (2006 – 2013), First Gen Corporation (2005 – 2013), and National Reinsurance Corporation (2014 – 2019), where he also served as Chairman (2018 – 2019).  


Environmental, Social, and Governance  

Mr. Consing has also served on the board of the Hong Kong-based Asian Youth Orchestra. He is a board director of the US-Philippines Society and the Philippine-American Educational Foundation, and a trustee of the College of St. Benilde, La Salle Green Hills, and the Manila Golf Club Foundation. Mr. Consing has been a member of the Trilateral Commission since 2014.  


Education  

Mr. Consing received an A.B. Economics degree (Accelerated Program), magna cum laude, from De La Salle University, Manila, in 1979. He obtained an M.A. in Applied Economics from the University of Michigan, Ann Arbor, in 1980.  


Other Philippine Stock Exchange-Listed Companies

  • Ayala Corporation - Director  
  • AC Energy Corporation – Director  
  • Globe Telecom, Inc. – Director


Emmanuel S. de Dios



Emmanuel S. de Dios

Independent Director


Tenure
•    Appointed Independent Director April 2022 to Present


Board Committee Membership
•    Chairman of the Corporate Governance Committee


Age

67, Born 1954

Nationality

Filipino


Career
Mr. de Dios is a board member of ABS-CBN Corporation and was appointed as independent director on April 23, 2013. He was a member of the Board of Advisors to the Board of Directors of the ABS-CBN Corporation from 2011 until his election as an Independent Director in 2013.


Relevant Skills and Experience
Mr. de Dios was the Dean of the University of the Philippines School of Economics from 2007 to 2010.


Outside Interests/Commitments
Mr. de Dios has been a Professor of Economics at the University of the Philippines School of Economics since 1989. He is also the President of Human Development Network (Philippines) since July 2012.

Environmental, Social, and Governance
He became chair of the Board of Trustees of Pulse Asia Research, Inc. as of 2016. He is also the author or editor of various books, monographs, articles and reviewers in economics.


Education
Mr. de Dios obtained his AB Economics degree from the Ateneo de Manila University (cum laude) in 1978 and his Ph.D. in Economics from the University of the Philippines in 1987. He pursued post-doctoral studies at the Universität Konstanz in Germany from 1987 to 1988.
 
Other Philippine Stock Exchange-Listed Companies:

  • ABS-CBN Corporation


Ramon R. Del Rosario, Jr.

Ramon R. Del Rosario, Jr.

Non-Executive Director


Tenure

  • Appointed Non-Executive Director from April 2020 to Present


Board Committee Membership

  • Member of the Corporate Governance Committee
  • Member of the Retirement/Pension Committee


Age
77, Born 1944


Nationality
Filipino


Career

Mr. del Rosario is the President and Chief Executive Officer of Phinma Corporation; President and Chief Executive Officer of Philippine Investment Management, Inc.


Relevant Skills and Experience

He has managed Phinma since 2002 and brings with him a wealth of experience in leading a diversified conglomerate. He is Chairman of Araullo University, University of Iloilo, University of Pangasinan, Cagayan de Oro College, Southwestern University, St. Jude College, Republican College, Rizal College of Laguna, United Pulp and Paper Co., Inc., PHINMA Microtel Hotels, Inc. and PHINMA Hospitality, Inc. He is ViceChairman of Phinma Foundation, Inc. and Phinma Property Holdings Corp., director of Philcement Corp. and other PHINMA managed companies.


Outside Interests/Commitments

He is a former Chairman of the Ramon Magsaysay Award Foundation and Makati Business Club, where he remains a Trustee; and former Chairman of the National Museum of the Philippines.


Environmental, Social and Governance

He is Chairman of Philippine Business for Education; and Vice-Chairman of Caritas Manila and Philippine Business for Social Progress.


Education

Mr. del Rosario graduated from De La Salle College in 1967 with degrees in BSC-Accounting and AB Social Sciences (Magna Cum Laude) and from Harvard Business School in 1969 with a Master in Business Administration degree


Other Philippine Stock Exchange Listed Companies

  • Phinma Corporation – Vice-Chairman and President & CEO


Octavio Victor R. Espiritu

    Octavio Victor R. Espiritu

    Non-Executive Director


    Tenure

    • Appointed Non-Executive Director April 2021 to Present
    • Appointed Independent Director April 2003 to April 2021
    • Appointed Non-Executive Director April 2000


    Board Committee Membership

    • Member of the Risk Management Committee
    • Member of the Audit Committee


    Age
    78, Born 1943


    Nationality
    Filipino


    Career

    Mr. Espiritu was the former President and Chief Executive Officer from 1984 to April 2000 of Far East Bank & Trust Company (FEBTC), a commercial bank established in 1960 which became a publicly-listed company in 1991. In 2000, BPI acquired FEBTC.


    Relevant Skills and Experience

    Mr. Espiritu was the former Treasurer and President of FEBTC, and was an exemplary Chair for the BPI Risk Management Committee (RMC) for several years. His expertise in markets, credit as well as banking operations particularly during the 1997 Asian financial crisis and 2008 global financial crisis also serves as a solid grounding for his membership in BPI’s Audit Committee. During his term as Chair of the RMC, BPI risk management was thrice recognized by international bodies as Risk House of the Year for the Philippines in 2014, 2018 and 2020 and as Bank Risk Manager in 2020 by Asia Risk and as Asean Risk Champion at the Asean Risk Awards in 2019.


    Outside Interests/Commitments

    He is a member of the Board of Directors of Philippine Dealing System Holdings Corporation and Subsidiaries; Philippine Stratbase Consultancy, Inc., Pueblo de Oro Golf & Country Club, and The Country Club, Inc.


    Education

    Mr. Espiritu graduated with an A.B. Economics degree from the Ateneo de Manila University in 1963 and obtained his M.A. Economics degree from Georgetown University, U.S.A in 1966.


    Other Philippine Stock Exchange-Listed Companies

    • Manila Water Company, Inc. – Independent Director
    • Bloomberry Resorts Corporation – Independent Director


    Aurelio R. Montinola III


    Aurelio R. Montinola III

    Non-Executive Director


    Tenure

    • Appointed Non-Executive Director from April 2013 to Present
    • Appointed Executive Director from January 2005 to April 2013
    • Appointed Non-Executive Director from January 2004 to December 2004


    Board Committee membership

    • Chairman of Retirement/Pension Committee
    • Member of the Executive Committee
    • Member of the Personnel and Compensation Committee


    Among the several BPI subsidiaries and affiliates, Mr. Montinola serves as member of the Board of Directors of the following: BPI Capital Corporation, BPI Direct BanKo, Inc., A Savings Bank, BPI Family Savings Bank, Inc., and BPI/MS Insurance Corporation.


    Age
    70, Born 1951


    Nationality
    Filipino


    Career

    Mr. Montinola served as President and Chief Executive Officer of BPI for eight years from 2005 to 2013, and BPI Family Savings Bank, Inc. for twelve years from 1992 to 2004.


    Relevant Skills and Experience

    Significant awards received by Mr. Montinola include Management Man of the Year 2012 (Management Association of the Philippines), Asian Banker Leadership Award (twice), and Legion d’Honneur (Chevalier) from the French Government.


    Outside Interests/Commitments

    Mr. Montinola is also the Chairman of the Roosevelt Colleges, Inc., East Asia Computer Center Inc., and Amon Trading Corporation. He is also President of the Management Association of the Philippines.


    Environmental, Social and Governance

    Mr. Montinola is a member of the Board of Trustees of BPI Foundation Inc. and the Kabang Kalikasan ng Pilipinas Foundation, Inc. He also sits as Vice-chairman of Philippine Business for Education Inc.


    Education

    He obtained his Bachelor of Science in Management Engineering degree at the Ateneo de Manila University in 1973 and his MBA from the Harvard Business School in 1977.


    Other Philippine Stock Exchange-Listed Companies

    • Far Eastern University, Incorporated – Chairman of the Board

    • Roxas and Company, Inc. – Independent Director


    Cesar V. Purisima


    Cesar V. Purisima

    Independent Director


    Tenure

    • Elected as Independent Director January 2021 to Present


    Board Committee Membership

    • Chairman of the Corporate Governance Committee
    • Chairman of the Nomination Committee
    • Member of the Risk Management Committee
    • Member of the Audit Committee
    • Board representatives to the BPI IT Steering Committee


    Age
    62, Born 1960


    Nationality
    Filipino


    He is also an Independent Director of BPI Capital Corporation.


    Career

    Mr. Purisima served in the government of the Philippines as Secretary of Finance and Chair of Economic Development Cluster of the President’s Cabinet from July 2010 to June 2016 and as Secretary of Trade and Industry from January 2004 to February 2005. Under his leadership, the Philippines received its first investment-grade ratings. He was named Finance Minister of the Year seven times in six consecutive years by a number of publications, a first for the Philippines. Prior to serving the government, Mr. Purisima was the Chairman & Country Managing Partner of the Philippines’ largest professional services firm SGC & Co.


    Relevant Skills and Experience

    Mr. Purisima is a certified public accountant and has extensive experience in public accounting both in the Philippines and abroad. Apart from his private sector experience, he also previously served on the boards of a number of government institutions, including as a member of the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Governor of the Asian Development Bank and World Bank for the Philippines, Alternate Governor of the International Monetary Fund for the Philippines, and Chairman of the Land Bank of the Philippines. He was conferred the Chevalier dans I'Ordre national de Ia Legion d'Honneur (Knight of the National Order of the Legion of Honour) by the President of the French Republic in 2017, the Order of Lakandula, Rank of Grand Cross (Bayani) by the President of the Philippines in 2016, and the Chevalier de I'Ordre national du Merite (Knight of the National Order of Merit) by the President of the French Republic in 2001.


    Outside Interests/Commitments

    He is also a founding partner of lkhlas Capital Singapore Pte. Ltd., a pan-ASEAN private equity platform. He is a member of the Board of AlA Group Limited, and a member of the Global Advisory Council of Sumitomo Mitsui Banking Corporation.


    Environmental, Social and Governance

    He is a member of Singapore Management University's lnternational Advisory Council in the Philippines. He is also a member of the board of trustees of the World Wildlife Fund- Philippines, De La Salle University, and the International School of Manila. He is an Asia Fellow at the Milken Institute, a global, non-profit, on-partisan think tank.


    Education

    Mr. Purisima obtained his Bachelor of Science in Commerce (Majors in Accounting & Management of Financial Institutions) degree from De La Salle University (Manila) in 1979, Master of Management degree from J.L. Kellogg Graduate School of Management, Northwestern University in 1983 and Doctor of Humanities honoris causa degree from Angeles University Foundation (Philippines) in 2012.


    Other Philippine Stock Exchange-Listed Companies

    • Ayala Land, Inc. – Independent Director
    • Universal Robina Corporation – Independent Director
    • Jollibee Foods Corporation – Independent Director


    Eli M. Remolona, Jr.


      Eli M. Remolona, Jr.

      Independent Director


      Tenure

      • Appointed Independent Director April 2019 to Present


      Board Committee Membership

      • Chairman of the Risk Management Committee


      Age
      69, Born 1952


      Nationality
      Filipino


      Career

      He is currently a Professor of Finance and Director of Central Banking at the Asia School of Business in Kuala Lumpur. The school is a collaborative effort with the MIT Sloan School of Management. Until October 2018, Mr. Remolona was the Chief Representative for Asia and the Pacific of the BIS. He also served as Secretary of the Asian Consultative Council, which consists of the Governors of the 12 leading central banks in the region. Until 2008, he was Head of Economics for Asia and the Pacific of the BIS.


      Relevant Skills and Experience

      Mr. Remolona joined the BIS in 1999 and for 6 years served as Head of Financial Markets in Basel and Editor of the BIS Quarterly Review. Before that, he was Research Officer of the Federal Reserve Bank of New York. He has extensive policy experience in financial markets, sovereign risk, international finance, central banking, and monetary policy.


      Outside Interests/Commitments

      He is also currently Associate Editor of the International Journal of Central Banking


      Environmental, Social and Governance

      He is an Advisor to the Academy of finance in Hong Kong.


      Education

      He sits on the Council of Advisers of the Academy of Finance in Hong Kong and is Research Associate of the Centre for Applied Macroeconomic Analysis (CAMA) at the Crawford School of the Australian National University. He also taught at Columbia University, New York University, and the University of the Philippines.


      Other Philippine Stock Exchange-Listed Companies

      • None

      Maria Dolores B. Yuvienco


      Maria Dolores B. Yuvienco

      Independent Director


      Tenure

      • Appointed Independent Director April 2016 to Present
      • Appointed Non-Executive Director April 2014


      Board Committee Membership

      • Chairman of the Audit Committee
      • Member of the Related Party Transaction Committee
      • Member of the Personnel and Compensation Committee


      Ms. Yuvienco is an Independent Director of BPI Asset Management and Trust Corporation. She is also Chairman of the AMTC Corporate Governance Committee and member of the AMTC Risk Oversight Committee


      Age
      74, Born 1947


      Nationality
      Filipino


      Career

      Ms. Yuvienco worked for 41 years with the Bangko Sentral ng Pilipinas (formerly known as Central Bank of the Philippines) under various capacities until her compulsory retirement in March 2013. She held the post of Assistant Governor in the Supervision and Examination Sector when she retired.


      Relevant Skills and Experience

      Her exposure at the BSP was largely in bank supervision where her responsibilities ranged from the crafting of policies/regulations on banking supervision to onsite examination and off-site monitoring of BSP-supervised entities. As a ranking official in the BSP, she had opportunities to meet and share ideas with her counterparts in other central banks in the region. She is a Certified Public Accountant and a Career Executive Service Professional.


      Outside Interests/Commitments

      In April 2018, Ms. Yuvienco was elected as Independent Director of First Consolidated Bank (Thrift Bank), and was chosen to chair the Nomination and Governance Committee.


      Environmental, Social and Governance

      Owing to her experience, she was tapped as a resource speaker in various training programs of the Southeast Asian Center for Banking in Kuala Lumpur.


      Education

      Ms. Yuvienco graduated from St. Theresa’s College, Quezon City in 1967, with a degree of Bachelor of Science in Commerce, major in Accounting. She took up post graduate studies at the University of the Philippines Diliman.


      Other Philippine Stock Exchange-Listed Companies

      • None

      Angela Pilar B. Maramag

      Angela Pilar B. Maramag

      Corporate Secretary


      Filipino, 51 years old, was appointed Corporate Secretary on April 8, 2015. She is also the Corporate Secretary of BPI subsidiaries and affiliates, including BPI Family Savings Bank, BPI Capital Corporation, BPI Asset Management and Trust Corporation, BPI/MS Insurance Corporation, BPI Direct BanKo, Inc., and BPI Foundation. Prior to joining BPI, Ms. Maramag was Senior Counsel at the Bank for International Settlements (BIS) in Basel, Switzerland, from 2001 to 2008, and Head of Finance and Administration at the BIS Representative Office in Hong Kong from 2008 to 2011. She was a Legal Officer at the United Nations Compensation Commission in Geneva, Switzerland, from 1998 to 2001. Ms. Maramag was admitted to the Philippine Bar (1995) and New York State Bar (1998). She received her Master in Laws (LL.M) from the University of Chicago in 1997, Juris Doctor (J.D) in 1994 from Ateneo de Manila School of Law, and AB Honors Program in Economics in 1990 from Ateneo de Manila University.

      Contents
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        Conglomerate Map

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