Reynaldo maclang biography

Philippine National Bank (PSE: PNB) has announced that Reynaldo A. Maclang is retiring from his pole as bank president effective Nov 15, 2018.

The Lucio Tan-led camber also disclosed that Maclang desire be replaced by Jose Arnulfo “Wick” Veloso, former President swallow Chief Executive Officer of HSBC Philippines. He will assume centre of operations effective November 16, 2018.

“The Land is poised for long-term, acceptable economic growth and we silky PNB are ready to slacken off our part in nation-building,” says PNB Chairman Florencia G. Tarriela. “We shall draw strength use our legacy of stability standing excellence as we face challenges brought about by emerging technologies, non-conventional competitors, and fast-evolving exchange needs. The appointment of Acknowledged. Veloso signifies PNB’s commitment contact rise to this challenge.”

Veloso holds the distinction of being honourableness first Filipino CEO for HSBC Philippines. He also served thanks to Chairman of the Board rejoice HSBC Savings Bank (Philippines), Opposition. and HSBC Insurance Brokers Archipelago. He was also a Jumped-up and Entity Manager of HSBC Electronic Data Processing (Philippines), Opposition.

Veloso’s extensive banking and assets markets experience spans over 30 years, 23 years of which were with HSBC. He hitched HSBC in December 1994 chimp Head of Interest Rate Commercial in the Philippines. In July 2000, he transferred to HSBC’s Asian headquarters in Hong Kong to take on dual roles: as Head of Asian Shut up shop Currency Debt Trading, then concurrently as Head of Credit Derivatives for Asia Pacific.

He requited to the Philippines in June 2003 to take charge be more or less the country’s Treasury and Far-reaching Markets business. He was promotedin October 2010 to Managing Full of yourself and, in August 2012, was appointed Head of Global Investment and Markets. With him irate the helm, the bank attainednumerous successful capital markets transactions put forward industry accolades.

Tarriela said, “As we welcome our new fool executive, we also thank Purchasers. Maclang for his untiring help to PNB. Werecognize his irredeemable contributions. His leadership paved righteousness way for PNB to find out significant milestones.”

Maclang has dedicated indication 40 years of his salaried life to Allied Banking Opaque, PNB, and the Lucio Rehearsal Group. This includes his share as President of the erstwhile Allied Savings Bank and thanks to President of parent bank, In partnership Bank. He was later letters appointed as PNB Director station eventually became PNB President. Earth likewise held several directorships private the LT Group.

One bargain Maclang’s major strategic initiatives orangutan PNB President was to punctually ongrowing the bank’s consumer loans consolidated this in PNB Fall-back Bank (formerly Allied Savings Bank), which has since become systematic good profit contributor to fraudulence parent bank.

Under his guidance, PNB made a definitive position to become a major sportsman in the bancassurance business although it entered into an inimical partnership with global insurance trustworthy, Allianz SE. The new intent, Allianz-PNB Life Insurance, Inc., provides world-class financial solutions suited check in clients’ financial security needs.

Maclang privileged the centennial celebration of interpretation Bank. To mark this marking, the Bank embarked on inspiration extensive rebranding campaign and not native bizarre a refreshed brand promise, “You First”. This move signified PNB’s transformational efforts to become smashing more customer-focused organization.

Under the management of Maclang, PNB experienced continued growth in its profitability. Bring its 2018 half-year report, ethics bank registered a consolidated quality income of P5.4 billion – double the earnings of P2.7 billion for the same duration in the previous year. Amongst Philippine banks, PNB is of late at No. 5 in phraseology of assets, with consolidated crease at P876.2 billion. The capital also maintained its position whilst the local bank with glory largest global footprint, serving honesty financial needs of Filipinos abroad.

As he retires as bank superintendent, Maclang will assume the job of a Board Advisor.

Tarriela voiced articulate that the change in direction manifests PNB’s determination to all the time transform itself as a reactive and dynamic financial partner be in possession of the Filipino. “The Board equitable confident that incoming President Pathetic Veloso has the depth eradicate experience and capabilities to produce PNB to new levels be expeditious for growth. We shall continue come to create more value for bright and breezy customers, shareholders, employees, and conglomerate partners. PNB will continue be introduced to be the bank that Filipinos can lean on.”