35th Anniversary - 1978-2013
35th Year Anniversary





Cezar P. Consing, Chairman, Filipino.
Director of the Corporation since July 2014. Mr. Cezar P. Consing is the President and CEO of the Bank of the Philippine Islands (“BPI”) since April 2013. From 2004 to 2013, he was a Partner of The Rohatyn Group, a New York headquartered investment company that manages about $7.0 billion in investments in the global emerging markets. He was responsible for the firm’s private equity business in Asia, managed its Hong Kong based operations and was a member of the board of partners of the firm’s management company. Mr. Consing was an investment banker with J.P. Morgan & Co. from 1985 to 2004, where he was based in Hong Kong and Singapore. From 1999 to 2004, he was President of J.P. Morgan Securities (Asia Pacific) and, as a senior Managing Director, co-headed or headed the firm’s investment banking group in the Asia Pacific region. As an investment banker, he was directly involved in some of the most significant corporate transactions in Asia, including several mergers, privatizations and debt and equity fund raisings. He worked for BPI in Manila in corporate planning and corporate banking from 1980 to 1985. Mr. Consing served as an independent director of the boards of CIMB Group Holdings Berhad and CIMB Group Sdn. Berhad from 2004 to 2012 and First Gen Corporation, a major Philippine power generation company, from 2005 to 2013. He has been an independent director of the board of Jollibee Foods Corporation since 2010. He served as a board director of BPI from 1995 to 2000, 2004 to 2007, and most recently since 2010. He received an M.A. in Applied Economics from the University of Michigan, Ann Arbor, in 1980.
Augusto P. Hidalgo, Director of the Corporation and President and Chief Executive Officer, Filipino.
Mr. Augusto Hidalgo is the President and Chief Executive Officer of National Reinsurance Corporation of the Philippines (PhilNaRe), from April 2014. Mr. Augusto Hidalgo is the President and Chief Executive Officer of National Reinsurance Corporation of the Philippines (PhilNaRe), from April 01, 2014. Mr. Hidalgo has been a strategy executive for the last 8 years: heading Mergers & Acquisitions (M & A) of Peak Reinsurance Hong Kong, and before that; Managing Partner of New World Financial Canada. Before the jump to senior management, Mr. Hidalgo was a Reinsurance Underwriter for Swiss Re in Canada, Australia, Switzerland and South Africa from 1996 to 2005. He started his career in management consulting with IBM in Tokyo, Arthur Andersen (SGV and Co) and EasyCall from 1989-1996. Mr. Hidalgo obtained his Bachelor of Science degree in Business Administration from the University of the Philippines. He received his Master's degrees in Business Administration from the Kellogg School of Management at Northwestern University and the Schulich School of Business at York University.
Rafael G. Ayuste, Jr., Director, Filipino.
Director of the Corporation since June 2012. Mr. Rafael G. Ayuste, Jr. is a Senior Vice President (Wealth Advisory and Trust Group) of BDO Private Bank, Inc. Prior to this, he was First Senior Vice President and Head of the Trust Banking Group of Philippine National Bank from 2009-2013; Vice President and Head of Retail Branch Business, Citibank Savings of Citibank N.A. Philippines from August 2008 to November 2009; Senior Vice President/Deputy Group Head of Trust banking of the Metropolitan Bank and Trust Company through merger with Global Business Bank from 2000 to 2008; Vice President/Head- Securities Distribution of the Banco Santander Philippines, Inc. from 1999 to 2000; Vice President/Head- Trust Division, Security Bank Corporation from 1996 to 1999; Assistant Vice President and Head of Peso and Dollar Trading Desks of Citibank, N.A., Citibank Global Asset Management (CGAM) from 1989 to 1996. Concurrently, he is the President and Director of the Trust Officers Association of the Philippines (TOAP) and former Director from 2003 to 2006 where he was elected President in 2005. He has attended various seminars such as Risk Management, Citibank Phils., 1995; Financial Risk Management, Pi Eta Singapore, 2004; Risk Management, BNP Paribas, 2006; Corporate Governance, Bankers Association of the Philippines (BAP), 2007. He obtained his Bachelor of Science degree major in Business Administration from the University of Sto. Tomas in 1986..
Yvonne S. Yuchengco, Director, Filipino.
Director of the Corporation since June 2006. Ms. Yvonne S. Yuchengco is the President and Director of Malayan Insurance Company, Inc. and MICO Equities, Inc. since 1995, Alto Pacific Corporation, and Philippine Integrated Advertising Agency, Inc. She is currently the Chairperson and Director of the RCBC Capital  Corporation; Chairperson and President of Yuchengco Tower Office Condominium Corporation, Y Tower II Office Condominium Owners Asso. Inc. and Malayan Securities Corp; Chairperson of First Nationwide Assurance Corporation and XYZ Assets Corporation; Advisory Board Member of Rizal Commercial Banking Corporation; Director, Vice President and Treasurer of Pan Managers, Inc.; Treasurer and Director of Pan Malayan Management & Investment Corporation, Honda Cars Kalookan, Inc, Mona Lisa Development Corp., Malayan High School of Science, Inc. and Petroenergy Resources Corporation; Director of Pan Malayan Realty Corporation, Malayan Insurance (H.K), Malayan International  Insurance Corporation, Manila Memorial Park, Inc., La Funeraria Paz Sucat Inc., iPeople Inc., Seafront Resources Corporation,   House of Investments, Inc., HYDee Management and Resource Corporation, Malayan Colleges, Inc. (operating under the name Mapua Institute of Technology, Luisita Industrial Park Corporation, Malayan Colleges Laguna, Inc., Asia-Pac Reinsurance Co., Ltd., AY Holdings, Inc., Pan Malayan Express, Inc., Pan Pacific Computer, Inc., Shayamala Corporation, and YGC Corporate Services, Inc.; Trustee of AY Foundation, and Philippine Asia Assistance Foundation, Inc.;  Trustee and Chairperson of the Malayan Plaza Condominium Owners Asso., Inc.; Trustee and Vice Chairperson of Yuchengco Museum, Inc.; and Assistant Treasurer of Enrique T. Yuchengco Inc. She was also formerly President of the PIA/Phil-Asia Assistance Foundation, Inc.   She graduated with a Bachelor of Arts degree from Ateneo de Manila University in 1977 and took up further studies in UAP under SBEP program.
Wilfredo C. Maldia, Director, Filipino
Director since December 2017. Mr. Maldiais currently a member of the GSIS Board of Trustees since December 2016. He graduated with a Bachelor of Science degree in Agriculture, major in Agricultural Economics from the University of the Philippines Los Baños, Laguna in 1969. In 1979, he also completed his Bachelor’s degree in Commerce major in Accounting from the Polytechnic University of the Philippines, and immediately obtained his license as a Certified Public Accountant (CPA). He earned his Master’s degree in Business Administration from the Philippine Christian University in 1984. Currently, Mr.Maldia holds various directorship positions in the private sector. He sits as an independent director in the Board of the First Valley Development Bank and as member of the Board of ROTECO, YamangLupa’tDagat Corporation, and CEAM Corporation. Prior to his appointment to the GSIS Board, he served as senior adviser to the Ropali Group of Companies, and as director of the Farmers Savings & Loan Bank, Inc. and Banco Alabang Inc. (A Rural Bank). He also worked as a consultant to the Asian Development Bank as financial & organizations specialist for Agricultural Development Bank of Nepal, Agricultural Credit Specialist for Bangladesh Krishi Bank, and as rural credit specialist of the Estanislao Lavin & Associates. He was likewise the financial specialist/expert of the Urban Integrated Consultants, Incorporated and Livestock Development Program Office (LDPO) & the KilusangKabuhayan at Kaunlaran (KKK). He also worked as Farm Manager at Universal Robina Corporation, a private company engaged in food manufacturing business. Mr. Maldia has also worked in the government sector for about 40 years, of which, 36 years were spent at the Land Bank of the Philippines (LANDBANK). He started his career at LANDBANK as a senior project analyst in 1976 (for 3 years), after a short stint working as an agronomist and researcher in the Bureau of Plant Industry and Bureau of Agricultural Economics, respectively, from 1971 to 1974. With his passion to work, he consistently rose from the ranks. In 2007, he became the Executive Vice President and head of the LANDBANK’s Agrarian and Domestic Banking Sector (ADBS) covering the agrarian, banking and lending operations until his retirement in 2012. With his leadership, Mr.Maldia has developed and introduced various innovative lending programs in the field of agriculture and finance. As ADBS head, he also chaired various committees, namely: Domestic Banking Loans Committee, Branch Operations Committee, Official Development Assistance Bids and Awards Committee, ADBS Sectoral Committee. He was likewise a member of the Board of LANDBANK subsidiaries (i.e, MasaganangSakahan Incorporated and LANDBANK Insurance Brokerage Inc), and member of the Governing Board of the Agricultural Guarantee Fund Pool. In 2008, he was recognized as one of the most distinguished alumni of the University of the Philippines – Los Baños.
Jocelyn De Guzman Cabreza, Director, Filipino.
Director since December 2016. Ms. Cabreza is a member of the Board of Trustees of the Government Service Insurance System (GSIS) and chairs its Audit Committee. She is also a member of GSIS Board’s Risk Oversight Committee and GSIS Provident Fund Committee of Trustees and is a director of Banco Laguna, Inc. Ms. Cabreza was a former Executive Vice President of Land Bank of the Philippines, Director of Land Bank Resources Development Corp and Land Bank Countryside Development Foundation. She is a certified public accountant, a master’s degree holder and a seasoned banker with 37 years of extensive experience in different areas of banking and finance, internal audit and operations and strategic policy formulation and implementation.
Lt. Gen. Alan R. Luga, AFP (Ret), Director, Filipino.
Director since December 2016. Alan R. Luga (Lt. Gen, Ret., AFP) is a Trustee of the Government Service Insurance System (GSIS). He is currently the President and CEO of AFP General Insurance Corporation. He was formerly the Vice Chief of Staff of the Armed Forces of the Philippines. From 2012 to 2013, he served as Commander of the AFP Southern Luzon Command. He was also the Commander of two Infantry Brigades (the 802nd Infantry BDE and the 1001st Infantry Bde) from 2008 to 2011 and the Commander for the 7th Infantry Division of the Philippine Army in 2012. He was a member of the GRP Peace Panel for the GRP-MILF Peace Talks and as the Chairman of the ADHOC Joint Action Group, OPAPP in 2011 to 2012. In 2005 to 2006, he was the Chief of the AFP Command Center as well as the Secretary, Army General Staff. He was deployed as Deputy Commander of the Philippine Battalion for the International Forces in East Timor and later as Chief Plans of the Peace Keeping Force of UNTAET in East Timor from 1999 to 2001. He was the Chairman of the Board of the Camp Aguinaldo Golf and Country Club from 2013 to 2014 and of the AFP Housing Board on the same years. He was also a member of the Board of Directors of the Riviera Sports & Country Club, Inc. from 2014 to 2016, and served as a member of the AFP Board of Generals from 2013 to 2014. He obtained his Bachelor of Science Degree from the Philippine Military Academy in 1981. In 1994, he acquired his MBA units from the Ateneo De Manila University Graduate School of Business. He completed a Master's Degree in Military Arts and Science at the US Army Command and General Staff College in 2002.
Luis C. Urcia, Director, Filipino.
Director starting January 2017. Mr. Urcia is Vice President of Partnership Distribution Group of the Bank of Philippine Islands, responsible for building and managing institutional distribution partnerships. He has been with the BPI Group since 1988 and has worked in its investment banking unit, corporate communications department and corporate social responsibility arm- the BPI Foundation. Prior to his current assignment, he was Business Director and Head of Corporate Finance of BPI Capital Corporation. He was also a director of BPI Securities Corporation, Brightnote Assets Corporation, Beacon Property Ventures, Inc. and ICCP Holdings, Inc. He graduated from the University of the Philippines- Los Banos in 1980 with a B.S. in Agricultural Engineering and in 1995, he obtained his Master in Business Management degree from the Asian Institute of Management.
Joli Co Wu, Director, Filipino.
Director of the Corporation from July 2015. Ms. Joli Co Wu is the President and Chief Executive Officer of QBE Seaboard Insurance Philippines effective April 7, 2014. Prior to this, she was with Seaboard Eastern Insurance where she started her insurance career and eventually lead the company as its President/CEO for the last 10 years. She has extensive experiences in Marine, Aviation, Casualty and Motor Insurance. Throughout her career, she has attended management, insurance and reinsurance courses, both local and international, to help hone her experience in the Industry. She is a member of the Board of Directors of QBE Seaboard Insurance Philippines as well as a member of the Board of Trustees of the Insurance Institute for Asia and the Pacific. She is also an officer of the Marine Underwriters of the Philippines. Ms. Wu attended the Immaculate Conception Academy for her primary and secondary education and graduated with a degree in Bachelor of Arts, Major in Financial Management from Catholic University of America, Washington DC.
Mr. Antonio M. Rubin, Director, Filipino.
Director of the Corporation since January 2018. Mr. Rubin is a seasoned underwriter in the insurance industry, having been in the practice of insurance for more than twenty-five (25) years. Currently , he is the Executive Vice President of Malayan Insurance Company, the Chairman of the Board of Directors of Bankers Assurance Corporation (BAC), and the President of the First Nationwide Assurance Corporation (FNAC). Prior to this, he was the Chairman of the Board of Directors of the Philippine Insurance Rating Association (PIRA) and MacPool. He was also the Assistant Vice President of Netional Steel Corporation before he joined Malayan Insurance Company Inc. In 1991, while with Malayan Insurance, his exposure to the field of insurance was further intensified as he headed various divisions in the company starting with the Risk Analysis Department, then the Fire and Motor Car Underwriting Divisions, the Sales Division, and finally, the entire Underwriting Division until he was appointed in 2011 as the Executive Vice President of the Company, a position he holds up to the present. In the field of governance, Mr. Rubin has likewise established himself in this field when he was elected in 2013. His expertise in the industry as further solidified and reinforced by the various specialized seminars, conventions and trainings he attended locally and abroad Mr. Rubin earned his degree in Bachelor of Science in Mechanical Engineering from the Mindanao State University in 1974 and obtained his Master's Degree Business Administration at Ateneo De Manila University in 1978.
Romeo L. Bernardo, Independent Director, Filipino.
Independent Director of the Corporation since June 2006. Mr. Romeo L. Bernardo is the Managing Director of Lazaro Bernardo Tiu and Associates (LBT), a financial advisory firm based in Manila. He is also a GlobalSource economist in the Philippines. He is Chairman of ALFM Family of Funds, ALFM Euro Bond Fund, ALFM Growth Fund, ALFM Money Market Fund, ALFM Peso Bond Fund, RL Bernardo & Associates, Inc. and Philippine Stock Index Fund. He is likewise an Independent Director of several companies and organizations including Aboitiz Power, Ayala Plans, Inc., BPI, RFM Corporation, Philippine Investment Management, Inc. (PHINMA), Trans-Asia Petroleum Corporation, BPI Globe BanKo Inc., BPI Family Savings Bank, Inc., BPI Direct Savings Bank, Inc., BPI Capital Corporation, BPI-Philam Life Assurance Corporation andBPI/MS Insurance Corporation. Mr. Bernardo is also the Director of Globe Telecom Inc.; and Board of Trustee of Institute for Development & Econometric Analysis, Inc.. (IDEA) and Philippine Institute for Development Studies. He previously served as Undersecretary of Finance and as Alternate Executive Director of the Asian Development Bank. He was an Advisor of the World Bank and the IMF (Washington D.C.). Mr. Bernardo holds a degree in Bachelor of Science in Business Economics from the University of the Philippines (magna cum laude) and a Masters degree in Development Economics at Williams College from Williams College in Williamstown, Massachusetts.
Ermilando D. Napa, Independent Director, Filipino.
Independent Director of the Corporation since June 2011. Mr. Ermilando D. Napa is presently the President and CEO and Vice-Chairman of the Board of Directors of the Philippine Export-Import Credit Agency (PhilEXIM), also known as the Trade and Investment Development Corporation of the Philippines (TIDCORP), a government financial institution attached to the Department of Finance. He is the Founding CEO of Manila Consulting and Management Co., Inc., Century Woods, Inc., and Catanauan Resources and Development Corporation. Currently, Mr. Napa is an Independent Director at the National Reinsurance Corporation of the Philippines (PhilNaRe or NRCP) and the CIIF Oil Mills Group. He is the Chairman of the Audit Committee of PhilNaRe and CIIF Oil Mills, as well as a Member of the Interim Governance Board of the National Life Insurance Company of the Philippines (NLIC). His previous professional experience include being a Partner of SyCip Gorres & Velayo Company (Philippines), a Principal of Kassim Chan & Company in Kuala Lumpur, Malaysia (a former member firm of SGV Group and Delloite Haskins & Sells International), and a Manager of Arthur Andersen in New York. In 2013, he was appointed as Conservator of the NLIC. Mr. Napa has attended special trainings and various courses such as Strategic Management and IMPACT Productivity Improvement in Chicago and Corporate Finance in New York. He holds a bachelor’s degree in Business Management from Aquinas University (1970) and a master’s degree in Management from the Asian Institute of Management (1980).
Medel T. Nera, Independent Director, Filipino.
Independent Director of the Corporation since July 2011. Mr. Medel T. Nera is the President and CEO of House of Investments, Inc. and President of RCBC Realty Corp. He serves as Director of House of Investments and its significant subsidiaries and associates. He also serves as Director of Rizal Commercial Banking Corporation and Seafront Resources Corp. He was a former senior partner of SyCip, Gorres, Velayo and Co., CPAs (SGV) where he served as Financial Services Practice Head. He also serves as Director and Treasurer of CRIBS Foundation Inc. Mr. Nera holds a degree in Bachelor of Science in Commerce from Far Eastern University where he graduated in 1976.  He obtained his Master of Business Administration degree from New York University in 1982.
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