PNB appoints new chief executive

ABS-CBN News

Posted at Jul 15 2011 03:40 PM | Updated as of Jul 16 2011 02:42 AM

MANILA, Philippines - Carlos Pedrosa is the new president and chief executive officer of Philippine National Bank (PNB) effective August 1.

Pedrosa, currently independent director of PNB, replaces Eugene Acevedo, who tendered his resignation "to focus on several promising business endeavors," the Lucio Tan-controlled bank told the Philippine Stock Exchange in a disclosure.

Pedrosa is a seasoned banker, having started a career in the industry in 1964.

He was private banking chief of a bank in Barcelona, Spain before joining Metropolitan Bank and Trust Co. (Metrobank), where he was head of various operations, including domestic and international banking and treasury.

He also served as president of First e-Bank (2000-2003), and later as director of United Coconut Planters Bank (2004-2006) and Metrobank (2008-2009).

He also held several positions in different companies, including Toyoto Motor Philippines (vice chairman), AXA Life Insurance Corp. (chairman), and Pilipino Telephone Corp. (director).

At present, Pedrosa is chairman of the Settlement Committee and member of the Market Governance Board and Market Compliance Committee of the Philippine Dealing and Exchange Corp.

PNB said it has appointed Deogracias Vistan to fill up the vacancy in the board when Pedrosa's new appointment takes effect.