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 2019, the Board convened 17 times.


Our board consists of 15 directors, seven 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
        62, Born 1959


        Nationality
        Filipino


        Career

        Mr. Zobel serves in 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., Manila Water Company, Inc. and AC Energy Corporation (formerly AC Energy Philippines, Inc.). He is also the Chairman of Ayala Retirement Fund Holdings, Inc., AC Industrial Technology Holdings, Inc., AC Ventures Holdings Corp., AC Infrastructure Holdings Corporation and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Director of Alabang Commercial Corporation, Ayala International Pte. Ltd., 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 may 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 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 sits on the board of the Singapore Management University and on various advisory boards of Harvard University, including the Global Advisory Council, HBS Board of Dean’s Advisors, and HBS Asia-Pacific Advisory Board, which he chairs. He is Chairman Emeritus of the Asia Business Council, a member of the Global Board of Adviser of the Council on Foreign Relations, and Co-Vice Chairman of the Makati Business Club, Chairman of Endeavor Philippines, and a board member 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

        • Manila Water Company, Inc. – Vice-Chairman of the Board

        • AC Energy Philippines, Inc. – 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
        61, 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 Manila Water Company, Inc., and AC Energy Corporation (formerly AC Energy Philippines, Inc.); Director of Globe Telecom, Inc. and Integrated Micro-Electronics, 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., Automobile Central Enterprise, Inc., Alabang Commercial Corporation, Accendo Commercial Corp. and Hero Foundation, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, 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., Honda Cars Philippines, Inc., Isuzu Philippines Corporation, 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 Chairman of Habitat for Humanity International’s Asia-Pacific Capital Campaign Steering Committee; Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, and the National Museum; and Member of the Tate Museum Asia-Pacific Acquisitions Committee, Asia Philanthropy Circle and The Metropolitan Museum International Council.


        Education

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


        Other Philippine Stock Exchange-Listed Companies

        • Ayala Corporation – Director and President and Chief Operating 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. – Chairman of the Board

        • AC Energy Philippines, Inc. – Chairman of the Board

        • Pilipinas Shell Petroleum Corp. – Independent Director



        Jose Teodoro K. Limcaoco

        Jose Teodoro K. Limcaoco

        Executive Director


        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


        He is also the chairman of BPI Family Savings Bank, Inc.


        Age
        59, Born 1962


        Nationality
        Filipino


        Career

        Before coming to BPI, he was the Chief Finance Officer, Chief Risk Officer, and Chief Sustainability Officer of Ayala Corporation, a PSE-listed company. He was also the Chairman of AC Energy International, Inc. (formerly Presage Corporation) and the President and CEO of AC Ventures Holding Corp. He was also a Director of several Ayala companies, including publicly listed Globe Telecom and Integrated Micro-electronics Inc., and the energy, infrastructure, industrials and healthcare companies of Ayala. 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. Prior to his appointment as CFO in April 2015, he held various responsibilities including 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 an Independent Director of SSI Group, Inc., and a Director of Just For Kids, Inc., a family business.


        Environmental, Social and Governance

        He is a Past President of the Rotary Club of Makati West.


        Education

        He graduated from Stanford University with a BS Mathematical Sciences (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

        • SSI Group, Inc. - Independent Director
        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

          61, Born 1959


          Nationality

          Singaporean


          Career

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


          Relevant Skills and Experience

          Ms. Ang spent 32 years with IBM Singapore and was IBM Vice President, Head of Industry Solutions and Smarter Cities & Industry Solutions for Asia Pacific from 2015 to 2019 and prior to that, IBM Singapore Managing Director from 2001 to 2003 and again from 2011 to 2015. She is a veteran in the tech industry and has lived and worked in Japan and China for over a decade. Janet has a diverse background having managed IBM Services in Greater China, IBM Sales Operations across Asia Pacific and Lenovo Desktop Operations globally.


          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), chairing its Finance & Risk Committee.


          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.


          Janet serves on the NUS Alumni Advisory Board and the Council for Board Diversity as well as the Singapore Business Federation chairing its Digitalisation Committee. She is a Fellow of the Singapore Computer Society, is a Member 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.


              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-Philam Life Assurance Corporation and BPI Asset Management and Trust Corporation.


              Age
              66, 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 GlobalSource 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

              • Aboitiz Power Corporation – Independent Director
              • RFM Corporation – Independent Director
              • Globe Telecom, Inc. – Non-Executive Director
              Ignacio R. Bunye

              Ignacio R. Bunye

              Lead Independent Director


              Tenure

              • Appointed Independent Director April 2016 to Present


              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
              76, 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 twelve-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


              He 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 serves as chairman of BPI’s thrift bank, investment bank, UK bank, property and casualty insurance, leasing, and rental subsidiaries, and vice chairman of its foundation; and is also a board director of BPI’s life insurance, asset management and micro finance subsidiaries.


                Age

                61, 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 a Senior Managing Director of Ayala Corporation, BPI’s controlling shareholder.


                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, rising to co-head or head 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, Mr. Consing was a member of the firm's global investment banking management committee and its Asia Pacific management committee. Mr. Consing 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, and energy and infrastructure private equity investing subsidiaries.


                Outside Interests / Commitments

                Outside his association with BPI and the Ayala Group, Mr. Consing serves on the boards of four private companies: The Rohatyn Group, Sqreem Technologies, FILGIFTS.com and Endeavor Philippines. He has also served as an independent board director of four publicly-listed companies: Jollibee Foods Corporation (2010 – present), CIMB Group Holdings (2006 – 2013), First Gen Corporation (2005 – 2013), and National Reinsurance Corporation (2014 – 2019), where he also served as Chairman (2018 – 2019). Mr. Consing has been a member of the Trilateral Commission, the global discussion group, since 2014.


                Environmental, Social and Governance

                He 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 and the Manila Golf Club Foundation.


                Education

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


                Other Philippine Stock Exchange-Listed Companies

                • AC Energy Corporation – Director
                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
                76, 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
                  77, 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
                  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
                  69, 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

                  Antonio Jose U. Periquet

                  Antonio Jose U. Periquet

                  Non-Executive Director


                  Tenure

                  • Appointed Non-Executive Director April 2021 to Present
                  • Appointed Independent Director April 2012 to April 2021


                  Board Committee Membership

                  • Member of the Executive Committee
                  • Member of the Nomination Committee
                  • Member of the Personnel and Compensation Committee


                  Mr. Periquet is the Chairman/Independent Director of BPI Asset Management and Trust Corporation. He serves as a Director of BPI Capital Corporation and BPI Family Savings Bank, Inc.


                  Age
                  60, Born 1961


                  Nationality
                  Filipino


                  Career

                  Mr. Periquet spent the early part of his career doing equity research, sales and trading for several firms in London, eventually joining Deutsche Bank as head of the Asian Equities desk. In 2000, he established Deutsche Regis Partners, Inc., a joint-venture with Deutsche Bank, which became the largest stockbroker in the Philippines were he as Chairman, Managing Director & Head-Research.


                  Relevant Skills and Experience

                  He also, at one time, served on three government boards: the Development Bank of the Philippines, the DBP Leasing Corp., and the Metro Rail Transit Corp.


                  Outside Interests/Commitments

                  He is also an Independent Director of Albizia ASEAN Tenggara Fund, Chairman of the Campden Hill Group, Inc. and Pacific Main Holdings.


                  Environmental, Social and Governance

                  He is a trustee of Lyceum University of the Philippines, a member of the finance committees of the Ateneo de Manila University and the Philippine Jesuit Provincial and a member of the Dean’s Global Advisory Council at the University of Virginia’s Darden School of Business.


                  Education

                  Mr. Periquet graduated from the Ateneo de Manila University with an AB Economics degree in 1982. He also holds a Master of Science degree in Economics from Oxford University and an MBA from the University of Virginia.


                  Other Philippine Stock Exchange-Listed Companies

                  • ABS-CBN Corporation – Independent Director
                  • Ayala Corporation – Independent Director
                  • DMCI Holdings, Inc. – Independent Director
                  • Semirara Mining Corporation – Independent Director
                  • Max’s Group of Companies – Independent Director
                  • Philippine Seven Corporation – Independent Director
                  • Universal Robina Corporation - Independent Director

                  Cezar V. Purisima



                  Cezar 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
                  61, Born 1960


                  Nationality
                  Filipino


                  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
                    68, 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
                    73, 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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