Edition:
United States

Bank of the Philippine Islands (BPI.PS)

BPI.PS on Philippine Stock Exchange

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26 Jul 2016
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Summary

Name Age Since Current Position

Jaime Augusto Zobel de Ayala

57 2004 Chairman of the Board

Cezar Consing

56 2013 President, Chief Executive Officer, Director

Fernando Zobel de Ayala

55 2014 Vice Chairman of the Board

Antonio Paner

56 2011 Executive Vice President, Treasurer, Head - Global Banking Group

Natividad Alejo

58 2012 Executive Vice President, Head - Retail Clients

Simon Paterno

56 Executive Vice President, Head - Financial Products & Services

Alfonso Salcedo

60 Executive Vice President, Head - Corporate Clients

Joseph Anthony Alonso

49 2015 Senior Vice President - Corporate Clients

Olga Ang

53 2015 Senior Vice President - Retail Clients

Marie Christine Arguelles

59 2015 Senior Vice President - Global Markets

Estelito Biacora

44 2015 Senior Vice President - Asset Management & Trust

Michael Calleja

54 2015 Senior Vice President - Global Markets

Reymundo Castro

57 2015 Senior Vice President - Corporate Clients

Fidelina Corcuera

57 2015 Senior Vice President - Enterprise Services

Aniceta Del Mundo

59 2015 Senior Vice President - Financial Products & Services

Raul Dimayuga

52 2015 Senior Vice President - Retail Clients

Paul Joseph Garcia

45 2015 Senior Vice President - Asset Management & Trust

Dino Gasmen

48 2015 Senior Vice President - Global Markets

Ma. Cristina Go

45 2015 Senior Vice President - Financial Products & Services

Joseph Albert Gotuaco

49 Senior Vice President, Chief Financial Officer, Head - Enterprise Services

Angelie King

53 2015 Senior Vice President - Retail Clients

Edgardo Madrilejo

58 2015 Senior Vice President - Office of the President

Maria Theresa Marcial-Javier

44 2015 Senior Vice President - Asset Management & Trust

Pilar Bernadette Marquez

56 2015 Senior Vice President - Enterprise Services

Eugenio Mercado

51 2015 Senior Vice President - Enterprise Services

Mario Miranda

56 2015 Senior Vice President - Asset Management & Trust

Marie Josephine Ocampo

52 2015 Senior Vice President - Financial Products & Services

Ramon Opulencia

58 2015 Senior Vice President - Global Markets

Ma. Corazon Remo

56 2015 Senior Vice President - Enterprise Services

Angela Santiano

58 2015 Senior Vice President - Office of the President

Manuel Tagaza

52 2015 Senior Vice President - Financial Products & Services

Roland Gerard Veloso

51 2015 Senior Vice President - Financial Products & Services

Heidi Ver

59 2015 Senior Vice President - Retail Clients

Sylvia Yngente

60 2015 Senior Vice President - Retail Clients

Roy Emil Yu

58 2015 Senior Vice President - Global Markets

Angela Pilar Maramag

2015 Corporate Secretary

Vivian Azcona

59 2014 Director

Ignacio Bunye

2016 Director

Rebecca Fernando

66 2009 Director

Delfin Gonzalez

66 2016 Director

Aurelio Montinola

63 2013 Director

Mercedita Nolledo

75 1991 Director

Dolores Yuvienco

67 2014 Director

Romeo Bernardo

61 2002 Independent Director

Octavio Espiritu

71 2002 Independent Director

Xavier Loinaz

71 2004 Independent Director

Antonio Jose Periquet

54 2015 Independent Director

Astrid Tuminez

50 2013 Independent Director

Biographies

Name Description

Jaime Augusto Zobel de Ayala

Mr. Jaime Augusto Zobel de Ayala, II, serves as Chairman of the Board of Bank of the Philippine Islands since March 25, 2004. He has served as Member of the Board of BPI since 1990 and as Vice-Chairman from 1995 to March 25, 2004. Mr. Zóbel de Ayala is currently Chairman of BPI’s Executive Committee and member of its Nomination Committee. He is also Chairman of the Board of Directors of BPI Family Savings Bank and BPI Capital Corp. Mr. Zóbel de Ayala has been a member of the Board of Directors of Ayala Corp. since 1987, and its Chairman and CEO of since 2006. He is also Chairman of Globe Telecom and Integrated Micro- Electronics, and Vice Chairman of Ayala Land and Manila Water Company. He is also the Co- Chairman of Ayala Foundation; Vice Chairman of AC Energy Holdings; Chairman of Harvard Business School’s Asia-Pacific Advisory Board; Vice Chairman of the Makati Business Club; member of the Global Advisory Council of Harvard University, International Advisory Committee of Mitsubishi Corp., International Council of J.P. Morgan Chase; and a Philippine Representative to the APEC Business Advisory Council. Mr. Zóbel de Ayala graduated with B.A. in Economics (Cum Laude) at Harvard College, Harvard University, in 1981 and completed his MBA at Harvard Business School, Harvard University, in 1987.

Cezar Consing

Mr. Cezar Peralta Consing serves as President, Chief Executive Officer and Director of Bank of the Philippine Islands since April 18, 2013. He served as Independent Director from August 18, 2004 until April 18, 2013. Between 1995 and 2000, Mr. Consing represented J.P. Morgan & Co., then the second-largest shareholder of BPI, on the bank’s board. Currently, Mr. Consing serves as Chairman of the bank’s Credit Committee and is a member of the bank's Executive, Trust, Retirement & Pension, and Risk Management Committees. Mr. Consing also serves as Chairman of BPI Direct Savings Bank, BPI Europe, BPI Globe BanKO, BPI Century Tokyo & Lease Finance Corp., and as Vice Chairman of BPI Capital and BPI Foundation. He also serves as a board director of other BPI subsidiaries and affiliates, namely: BPI Family Savings Bank, BPI/MS Insurance Corp. and BPI-Philam Life Assurance Corp. Mr. Consing is a Board Partner of TRG Management Principals LP (see below). He is also a Member of the Board of Directors of National Reinsurance Corp. and LGU Guarantee Corp. He has served as an Independent Board Director of Jollibee Foods since June 2010 and a Board Director & Non-Executive Chairman of Filgifts.com. Between 2004 and 2013, Mr. Consing also served as an independent director of Malaysia-based CIMB Group Holdings Bhd and CIMB Group Sdn Bhd, altogether one of the largest universal banking institutions in Southeast Asia. Between 2005 and 2013, Mr. Consing also served as an independent director of First Gen Corp. Mr. Consing received an A.B. Economics degree (Accelerated Program), magna cum laude, from De La Salle University in 1979. In 1980, he obtained an M.A. in Applied Economics from the University of Michigan, Ann Arbor. Mr. Consing is a member of the Boards of Advisors of De La Salle University and International Care Ministries, which focuses on fighting poverty in the Visayas and Mindanao.

Fernando Zobel de Ayala

Mr. Fernando Zobel de Ayala serves as Vice Chairman of the Board of Bank of the Philippine Islands since April 10, 2014. He is the Chairman of the Board of Trustees of BPI Foundation and also serves as Chairman of the bank’s Personnel and Compensation Committee, Vice Chairman of the Executive Committee and member of the Nomination and Trust Committees. Mr. Zóbel de Ayala has been a Director of Ayala Corp. since May 1994, as well as its President and Chief Operating Officer since April 2006. Mr. Zóbel de Ayala is also Chairman of Ayala Land and Manila Water Company; Director of Globe Telecom and Integrated Micro-Electronics. He is the Chairman of AC International Finance, AC Energy Holdings, and Hero Foundation; Co-Chairman of Ayala Foundation; Director of LiveIt Investments, Ayala International Holdings, Honda Cars Philippines, Isuzu Philippines Corp., Pilipinas Shell Petroleum Corp., and Manila Peninsula. Mr. Zóbel de Ayala is also a member of INSEAD’s East Asia Council and the World Presidents’ Organization. He also serves as Chairman of Habitat for Humanity’s Asia-Pacific Capital Campaign Steering Committee; and a member of the Board of Trustees of Pilipinas Shell Foundation, Kapit Bisig para sa Ilog Pasig Advisory Board, the National Museum of the Philippines and Caritas Manila, the foundation of the Roman Catholic Church. Mr. Zóbel de Ayala graduated with B.A. degree in Liberal Arts from Harvard College, Harvard University, in 1982.

Antonio Paner

Mr. Antonio V. Paner serves as Executive Vice President, Treasurer, Head - Global Banking Group of Bank of the Philippine Islands since April 14, 2011. He served as Treasurer and Head - Financial Market Group from November 2002 until April 14, 2011. As such, he is responsible for managing the bank’s interest rate and liquidity gaps, as well as its fixed income and currency market-making, trading, and distribution capabilities – in the Philippines and internationally. Mr. Paner is Chairman of the bank’s Asset & Liability Committee and is member of the bank’s Management Committee and Asset Management Investment Council. Mr. Paner is Chairman of BPI International Finance and BPI Forex, and also serves on the boards of BPI Europe and BPI Direct. Mr. Paner first joined BPI in 1985, when the bank acquired Family Savings Bank and performed various Treasury and Trust positions until 1989. Between 1989 and 1996, he worked at Citytrust, then the consumer banking arm of Citibank in the Philippines, which BPI acquired in 1996. At BPI, he has been responsible for various fixed income–related businesses of the bank, including Risk Taking, Local Currency Portfolio Management, and Money Management. Mr. Paner served as President of the Money Market Association of the Philippines (MART) in 1998 and remains as active member of the Bankers Association of the Philippines’ (BAP) Open Market Committee. He is also a member of the Money Markets Association of the Philippines, Makati Business Club, Management Association of the Philippines, British Chamber of Commerce, and the Philippine British Business Council. Mr. Paner obtained an A.B. Economics degree from Ateneo de Manila University in 1979 and completed various courses in Business and Finance, including Strategic Financial Management in 2006. In 2009, he completed the Advanced Management Program at Harvard Business School, Harvard University.

Natividad Alejo

Ms. Natividad N. Alejo serves as an Executive Vice President and Head - Retail Clients of Bank of the Philippine Islands since December 31, 2012. As such, Ms. Alejo oversees the bank’s relationship with all clients who avail of BPI’s services in their individual capacities, including private banking and Overseas Filipino clients. She is also responsible for managing the Bank’s branch network. Ms. Alejo serves on the Bank’s Management, Asset & Liability, and IT Steering Committees as well as on the boards of BPI Family Savings Bank, BPI Direct Savings Bank, BPIPhilam Life Assurance, and BPI International Finance Ltd. Ms. Alejo joined BPI in 1979, when the bank acquired Commercial Bank & Trust and worked in its Corporate Planning Department. She has served in a senior management role in the bank’s retail banking business since 2007. Prior to this, between 2001 and 2007, Ms. Alejo served as the President and Director of BPI Capital and BPI Securities. She has also served as President of the Investment House Association of the Philippines in 2004 to 2006. Ms. Alejo graduated in 1976 with AB Economics degree, summa cum laude, from Divine Word University, Tacloban City, where she was also a Gansewinkle Scholastic Trophy Awardee. She completed an MA in Economics at University of the Philippines in 1978 and completed the Advanced Management Program at Harvard Business School, Harvard University, in 2005. Ms. Alejo is currently a director of An Waray Party List, a Manila-based civic organization consisting of Filipinos from Eastern Visayas. She also serves on the Board of Regents of Leyte Normal University.

Simon Paterno

Mr. Simon R. Paterno serves as Executive Vice President and Head - Financial Products & Services of Bank of the Philippine Islands. As such, he is responsible for building and managing BPI’s service capabilities across all asset, liability, payments, and bancassurance platforms. He also serves on the bank’s Management, Asset & Liability, and Credit Committees, as well as on the board of BPI Century Tokyo Lease and Finance Corporation. Prior to joining BPI, Mr. Paterno represented CIMB in its acquisition strategy for a Philippine bank, having joined the group in late 2012 as CEO-designate of Bank of Commerce, which was targeted for acquisition by CIMB. Between 2004 and 2012, he was Managing Director and Country Manager of Credit Suisse, where he also founded and served as Chairman of Credit Suisse Securities Philippines, Inc., the firm’s securities broker/dealer subsidiary. Between 2002 and 2004, Mr. Paterno was President & CEO of Development Bank of the Philippines and concurrently Chairman of the LGU Guarantee Corp. and other DBP subsidiaries. Prior to DBP, Mr. Paterno as a Managing Director at J.P. Morgan, where he spent 18 years in various capacities, rising from Head of Philippine banking to Head for sovereign clients in all of Asia. During the Asian Financial Crisis, he led the project teams that advised the Indonesian Bank Restructuring Agency (IBRA) and its Malaysian counterpart, Danaharta. In his career, Mr. Paterno worked on some of the most significant sovereign financing transactions in the Philippines: restructuring of its foreign debt (1991), debut eurobond (1992), Brady exchanges (1994), Domestic Bond Exchanges (2006), and Debt Exchange Warrants (2008). Mr. Paterno received his MBA from Stanford University in 1984 and his AB Honors Program in Economics, cum laude, from the Ateneo de Manila University in 1980.

Alfonso Salcedo

Mr. Alfonso L. Salcedo, Jr., serves as Executive Vice President and Head - Corporate Clients of Bank of the Philippine Islands. As such, Mr. Salcedo oversees the bank’s domestic and international relationships in the corporate and financial institutions space. He is currently a member of the Bank’s Management, Asset & Liability, and Credit Committees, as well as member of the boards of the following subsidiaries and affiliates: BPI Capital, BPI Direct Savings Bank, Ayala Plans, BPI-Philam Life Assurance Corp., BPI Century Tokyo Lease and Finance Corp., and Ayala Automotive Holdings Corp. Mr. Salcedo has served at BPI since 2000, when he became responsible for the firm’s bancassurance businesses, the first such business at the time for a Philippine bank. Between 2004 and 2010, Mr. Salcedo served as President of BPI Family Savings Bank, the Bank’s retail lending flagship, and the largest thrift bank in the Philippines. Prior to joining BPI, Mr Salcedo served for ten years in the retail banking operations of Citibank Philippines. Furthermore, for five years, between1983 and 1988, Mr. Salcedo was posted in Osaka, Japan as Marketing Manager of Nippon Vicks KK (Japan). Mr. Salcedo received his A.B. Economics Honors degree, with honors, from Ateneo de Manila University, in 1977. He also completed the Advanced Management Program at Harvard Business School, Harvard University, in 2006. Mr. Salcedo currently serves on the board of Ayala Automotive Holdings Corp.

Joseph Anthony Alonso

Olga Ang

Marie Christine Arguelles

Estelito Biacora

Michael Calleja

Reymundo Castro

Fidelina Corcuera

Aniceta Del Mundo

Raul Dimayuga

Paul Joseph Garcia

Dino Gasmen

Ma. Cristina Go

Joseph Albert Gotuaco

Mr. Joseph Albert L. Gotuaco serves as Senior Vice President, Chief Financial Officer and Head - Enterprise Services of Bank of the Philippine Islands. He is responsible for managing the primary infrastructure of the bank. He chairs its IT Steering and Capital Expenditure Committees, serves as a member of its Management, Asset & Liability, and Operating & IT Risk Management Committees, and serves on the board of BPI Capital and BPI International Finance Ltd. Mr. Gotuaco began his banking career in New York City in 1986, as a risk manager and trader for interest rate swaps, fixed income instruments, and Eurodollar futures at Chemical Bank, a predecessor firm of J.P. Morgan. In 1994, he was based in Hong Kong where he joined J.P. Morgan, then a major shareholder in BPI. At J.P. Morgan, he was responsible for servicing corporate and sovereign clients in the Philippines and in Southeast Asia. In 2002, Mr. Gotuaco joined Credit Suisse in its Fixed Income Division; in 2005, he joined Merrill Lynch, where he served as Managing Director in its Fixed Income, Currencies & Commodities (“FICC”) Division and served on the firm’s Asia-Pacific Operating Committee. At both Credit Suisse and Merrill Lynch, he was responsible for developing and marketing fixed income products for sovereign and corporate clients across non-Japan Asia. From 2009 until he joined BPI, Mr. Gotuaco was based in Singapore, working in an investment management vehicle of the Brunei government, where he helped manage a general aviation manufacturer, Piper Aircraft, and founded a captive finance company, Piper Capital. Mr. Gotuaco obtained his B.S. Economics in Finance and Marketing, summa cum laude, from the Wharton School, University of Pennsylvania, in 1986. He obtained his MBA from Harvard Business School, Harvard University, in 1994. Mr. Gotuaco also serves as a non-executive board member of AirFleet Capital, Inc., a U.S.-based aviation finance company.

Angelie King

Edgardo Madrilejo

Maria Theresa Marcial-Javier

Ms. Maria Theresa Marcial-Javier serves as Senior Vice President - Asset Management and Trust of Bank of the Philippine Islands since January 1, 2015. She was Head of Asset Management and Trust Group (2009-January 1, 2015). She has served as the President of the Trust Officers Association of the Philippines. Her other affiliations include, among others: Director, BPI Investment Management, Inc.; Director, McCann World Group Philippines, Inc.; Director, Fintec Holdings, Inc.; Director and President, Phase II Holdings, Inc.; Member of the Board of Senior Advisers, Fund Managers Association of the Philippines. She is also a Director of the following mutual fund companies: ALFM Peso Bond Fund, ALFM Dollar Bond Fund, ALFM Euro Bond Fund, ALFM Money Market Fund, ALFM Growth Fund, and Philippine Stock Index Fund, Inc. She graduated cum laude at the University of the Philippines, Los Banos in 1990 with a B.S. Economics degree, and finished her Masters Degree in Economics in 1994 at the University of the Philippines School of Economics, Diliman. She took up the CFA Institute Investment Management Workshop at the Harvard Business School, Boston in 2006. She completed the Advanced Management Program at the Harvard Business School (Harvard University), Boston in 2010.

Pilar Bernadette Marquez

Eugenio Mercado

Mario Miranda

Marie Josephine Ocampo

Ramon Opulencia

Ma. Corazon Remo

Ms. Ma. Corazon S. Remo serves as Senior Vice President - Enterprise Services of Bank of the Philippine Islands. At present, she is the Chairman of the Board of Trustee of the following: BPI Operations Management Corporation, Ayala Life-FGU Condominium Corporation Makati, Ayala Life-FGU Condominium Corporation Alabang, BPI Paseo de Roxas Condominium Corporation and Greentop Condominium Corporation. She is also a member of the Board of Directors of BPI Computer Systems Corporation, Citytrust Realty Corporation and FGU Insurance Corporation. She graduated with B.S. Business Economics from the University of the Philippines in 1978 and obtained her MBA from the Ateneo de Manila University in 1988.

Angela Santiano

Manuel Tagaza

Roland Gerard Veloso

Heidi Ver

Sylvia Yngente

Roy Emil Yu

Angela Pilar Maramag

Vivian Azcona

Ms. Vivian Que Azcona serves as a Director of Bank of the Philippine Islands since April 10, 2014. She is also a member of its Nomination and Personnel, Compensation and Human Resources Committees. Ms. Azcona is the President of privately-held Mercury Group of Companies, Inc. (“MGCI”) and President of Mercury Drug Corp. (“MDC”), a subsidiary of MGCI and one of the largest drug store chains in the Philippines. Ms. Azcona joined MDC in 1977, learning the business from entry-level store operations and eventually rotating through critical functions such as merchandising, distribution, administration, and finance. Ms. Azcona was appointed Vice President and General Manager of MDC in 1983 and assumed her current position in 1998. Ms. Azcona is also President of Mercury Drug Foundation, a non-stock, non-profit organization active in the promotion and of health, education and economic productivity among Filipinos. Ms. Azcona is currently a Vice President of the Philippine Retailers Association. She is also a member of the Philippine Pharmacists Association, for which she has also served as an officer and director. Ms. Azcona is a registered pharmacist. She received her B.S. Pharmacy degree, cum laude, from the University of Santo Tomas, in 1977. She also graduated from the Basic Management Program of the Asian Institute of Management, in 1978.

Ignacio Bunye

Rebecca Fernando

Ms. Rebecca G. Fernando serves as a Director of Bank of the Philippine Islands since March 31, 2009. She also served as a Director from 1995 until 2007. Ms. Fernando is a member of the bank’s Executive, Trust, Related Party Transactions and Retirement & Pension Committees. She is also a member of the Board of Directors BPI Capital and BPI Family Savings Bank. Ms. Fernando is currently the Chairman of LAIKA Intertrade Corp. She is the Financial Consultant and Member of the Finance Board of The Roman Catholic Archbishop of Manila and Finance Board of The Roman Catholic Archbishop of Antipolo. Ms. Fernando graduated with BSBA degree major in accounting from the University of the Philippines in 1970. She completed further studies for an MBA at the University of the Philippines and attended an Executive Program on Transnational Business at the Pacific Asian Management Institute at the University of Hawaii. She is a Certified Public Accountant.

Delfin Gonzalez

Aurelio Montinola

Mr. Aurelio R. Montinola, III, serves as a Director of Bank of the Philippine Islands effective April 18, 2013. He served as President and CEO of BPI for 8 years (2005-2013). He was President of the Bankers Association of the Philippines for 4 years (between 2008 and 2012) and President of the Chamber of Thrift Banks for one year (in 1995). He is a member of BPI’s Executive, Audit, Risk Management, and Personnel and Compensation Committees. Mr. Montinola is presently the Chairman of Far Eastern University and the Vice Chairman of Philippine Business for Education. He is also Director of BPI Family Savings Bank, BPI Capital Corp., BPI Globe BanKO, and BPI Europe. He is also the Chairman of BPI/MS Insurance Corp., BPI-Philam Life Assurance Corp., FEU East Asia Education Foundation, Amon Trading Corp.; and Lafarge Republic. Finally, he is a Member of the Management Association of the Philippines and Trustee of the Makati Business Club and WWF Philippines. Significant awards include Management Man of the Year 2012 (Management Association of the Philippines), Asian Banker Leadership Award (2005 and 2009), and Legion d’Honneur (Chevalier). Mr. Montinola obtained an MBA in 1977 from the Harvard Business School, Harvard University and BS Management Engineering degree at the Ateneo de Manila University in 1973.

Mercedita Nolledo

Ms. Mercedita S. Nolledo serves as a Director of Bank of the Philippine Islands since 1991. She is the Chairman of BPI’s Trust and Retirement & Pension Committees, and a member of the Executive and Corporate Governance Committees. In addition, Ms. Nolledo serves as Chairman of BPI Investment Management, and a Director of BPI Family Savings Bank and BPI Capital Corp. Ms. Nolledo is also a Director of Ayala DBS Holdings, Ayala Land Commercial REIT, Michigan Holdings, Anvaya Cove Beach and Nature Club, Honda Cars Cebu, Honda Cars Makati, Isuzu Automotive Dealership, Isuzu Cebu, Ayala Automotive Holdings Corp., and Prime Initiatives. She is also a member of the Board of Trustees of Ayala Foundation and BPI Foundation; and a Vice President of Sonoma Properties. Between 2004 and 2010, Ms. Nolledo also served as a Director of Ayala Corp. Ms. Nolledo graduated in 1960 with Bachelor of Science in Business Administration, with major in Accounting, from the University of the Philippines, ranking second in her CPA exams that year. In 1965, she obtained a Bachelor of Laws, also from the University of the Philippines, also ranking second in her bar exams that year.

Dolores Yuvienco

Ms. Dolores B. Yuvienco serves as a Director of Bank of the Philippine Islands since April 10, 2014. Ms. Yuvienco joined the Bangko Sentral ng Pilipinas (formerly known as Central Bank of the Philippines) in April 1972 as a Senior Executive Assistant in the Office of the Governor. She transferred to the Supervision and Examination Sector in 1975 and moved up the organization until she retired as Assistant Governor at the Bangko Sentral in March 2013. While working at the Supervision and Examination Sector, she participated in the crafting of major policies on banking supervision, as well as in the on-site and off-site supervision activities over BSP supervised entities. She represented the BSP internationally at functions such as the EMEAP (Executives Meeting for East Asia and the Pacific Central Banks) Working Group on Banking Supervision and the Southeast Asian Center for Central Banking (SEACEN) Group on Banking Supervision. She served as a member of the Technical Working Group of the Financial Sector Forum, a voluntary intersectoral body formed by the BSP, the SEC, the Insurance Commission, and the PDIC. She is part of the speakers’ pool of the Rural Bankers Association of the Philippines (RBAP) Foundation that delivers the basic governance course for bank directors. A former president of the BAIPhil, a training provider for bankers, she continues to be an adviser to the BAIPhil Training Institute. Ms. Yuvienco graduated in 1967 from St. Theresa’s College in Quezon City with the degree of Bachelor of Science in Commerce, major in Accounting. She completed post graduate studies at the University of the Philippines, Diliman. She is a Certified Public Accountant and a Career Executive Service Professional.

Romeo Bernardo

Mr. Romeo L. Bernardo serves as an Independent Director of Bank of the Philippine Islands since August 2002. He was also an Independent Director from February 1998 until April 2001. He is the Chairman of the bank’s Nomination Committee and a member of its Corporate Governance, Personnel & Compensation, Risk Management, Trust, and Related Party Transactions Committee. He also serves as Independent Director of BPI Family Savings Bank, BPI Capital, BPI Direct Savings Bank, BPI/MS Insurance Corp., BPI Globe BanKO, BPI-Philam Life Assurance Corp., and Philippine Investment Management, Inc. Mr. Bernardo is a former undersecretary at the Department of Finance and founded his consultancy practice, Lazaro Bernardo Tiu & Associates in 1997. He has been advisor to various multilateral institutions such as the World Bank, IFC, 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. Mr. Bernardo regularly writes articles as the lead Philippine partner and advisor for GlobalSource, a New York-based network of independent analysts. Mr. Bernardo is also an Independent Director of the following listed companies: Aboitiz Power Corp., National Reinsurance Corp., Globe Telecom, and RFM Corp. Mr. Bernardo is the Chairman of the Board of Directors (Independent) of Ayala Life Fixed-Income Fund; the Peso, Dollar, Growth, Money Market and Euro Bond Funds; and Philippine Stock Index Fund, Inc. He also serves as Vice Chairman and Founding Fellow of Foundation for Economic Freedom. He is a member of the Board of Governors of the Management Association of the Philippines. 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. in Development Economics at Williams College, Williamstown, Massachusetts, in 1977.

Octavio Espiritu

Mr. Octavio V. Espiritu serves as an Independent Director of Bank of the Philippine Islands since April 2002. He served as a Director from April 2000 until April 2002. Mr. Espiritu is currently the Chairman of BPI’s Risk Management and Related Party Transaction Committees and a member of its Audit Committee. He has also served three terms as President of the Bankers Association of the Philippines and is the former President and Chief Executive Officer of Far East Bank & Trust Company, serving from 1987 until its acquisition by BPI in 2000. He also served as Chairman of the Board of Trustees of Ateneo de Manila University from 1991 to 2003. Mr. Espiritu is at present the Chairman of GANESP Ventures, as well as a member of the Board of Directors of International Container Terminal Services, Philippine Dealing System Holdings Corp., Philippine Stratbase Consultancy, and Netvoice. He also serves as a member of the Board of Trustees of the Philippine Center for Population and Development, as well as Vice President and Treasurer of the Ma. Montessori Foundation. Mr. Espiritu graduated with an AB Economics degree from the Ateneo de Manila University in 1963 and obtained his M.A. Economics degree from the Georgetown University, Washington, DC in 1966.

Xavier Loinaz

Mr. Xavier P. Loinaz serves as an Independent Director of Bank of the Philippine Islands since December 2004. He served as the President of BPI for 22 years, from 1982 to 2004. He served as President of the Bankers Association of the Philippines from 1989 to 1991. Currently, Mr. Loinaz is Chairman of the bank’s Audit Committee and a member of its Nomination Committee. He also serves as an Independent Director of BPI Family Savings Bank, BPI/MS Insurance Corp., and Ayala Corp. Mr. Loinaz is also Chairman of Alay Kapwa Kilusan Pangkalusugan, XPL Manitou Properties; and Vice Chairman of XPL MTJL Properties and a Member of the Board of Trustees of the Enrique Zobel Foundation. Mr. Loinaz graduated with an A.B. Economics degree from the Ateneo de Manila University in 1963 and obtained his MBA Finance at the Wharton School of University of Pennsylvania in 1965.

Antonio Jose Periquet

Mr. Antonio Jose U. Periquet serves as an Independent Director of Bank of the Philippine Islands since April 8, 2015. He served as a Director from April 19, 2012 until April 8, 2015. He is also Vice Chairman of the bank’s Trust Committee and a member of its Executive and Risk Management Committees. Mr. Periquet is also an Independent Director of BPI Capital Corp. and BPI Family Savings Bank. Between 1999 and 2010, Mr. Periquet served as Managing Director and Head of Research at Deutsche Regis Partners, a leading Philippine equity brokerage house, partially owned by Deutsche Bank. Currently, Mr. Periquet is an Independent Director of ABS-CBN Holdings Corp., ABS-CBN Corp., Ayala Corp., DMCI Holdings, Max’s Group of Companies and Philippine Seven Corp. Mr. Periquet is also a member of the Board of Trustees of Lyceum University of the Philippines, and Chairman of Pacific Main Holdings and Campden Hill Advisors. Mr. Periquet graduated with A.B. Economics degree at the Ateneo de Manila University in 1982. He then earned a Master of Science in Economics at University of Oxford in 1988 and an MBA from The University of Virginia in 1990.

Astrid Tuminez

Ms. Astrid S. Tuminez serves as an Independent Director of Bank of the Philippine Islands since December 18, 2013. She is a member of the bank’s Risk Management and Corporate Governance Committees, and is the bank’s non-executive director serving on its IT Steering Committee. Dr. Tuminez joined Microsoft in October 2012 as the Regional Director of Legal and Corporate Affairs in Southeast Asia, responsible for government relations, corporate citizenship, and business and regulatory initiatives in ASEAN, Sri Lanka, Bangladesh, Nepal and Bhutan. Dr. Tuminez is also an Adjunct Professor, and former Vice-Dean (Research) and Assistant Dean (Executive Education) of the Lee Kuan Yew School of Public Policy at the National University of Singapore. Between 2003 and 2007, at the U.S. Institute of Peace, she assisted in advancing peace negotiations between the Philippine government and the MILF. She was also a Senior Advisor to the Salzburg Global Seminar (2006), Executive Associate and then Director of Research for alternative investments at AIG Global Investment (1999-2003), a consultant to The World Bank and an institutional sales/research professional at Brunswick Warburg (1998). In 2012, Dr. Tuminez authored “Rising to the Top - A Report on Women’s Leadership in Asia,” a project supported by the Asia Society and The Rockefeller Foundation. She has been a U.S. Institute of Peace Scholar, a Freeman Fellow of the Salzburg Global Seminar, a fellow at the Harvard Kennedy School, a Distinguished Alumna of Brigham Young University, a fellowship recipient of the Social Science Research Council and the MacArthur Foundation, and a member of the International Advisory Board of the Asian Women Leadership University project and the ASEAN Institute on Disability and Public Policy (IDPP). She also serves on the board of Singapore American School and ASKI Global, an NGO focused on entrepreneurship among Asian women migrant laborers.