MANILA - Former Defense Secretary and 2010 presidential candidate Gilberto Teodoro has been elected as the new independent director of the Sy-led BDO Unibank.
The Philippines' largest bank by assets upped its number of independent directors to four, following the resignation of Henry Sy, Jr. as director citing compliance with regulatory policies.
Teodoro will be one of the bank's four independent directors, alongside Jones Castro, Jose Buenaventura and Jimmy Tang.
Teodoro ran for president in 2010 backed by then President Gloria Arroyo but lost.
He holds a commerce degree from the De La Salle University and a law degree from the University of the Philippines and Harvard Law School.
Teodoro is a distant cousin of Philippine President Benigno Aquino III.