Pascual returns to PNB as new chairman

MANILA, Philippines — Lucio Tan-led Philippine National Bank (PNB) has announced the appointment of Federico Pascual as chairman and Leonilo Coronel as vice chairman.

Pascual and Coronel were appointed during the organizational meeting of the board of directors of PNB last week. Pascual replaced former chair Florencia Tarriela, while Coronel replaced former vice chair Felix Enrico Alfiler.

Both Tarriela and Alfiler have reached the term limit for independent directors set by the Bangko Sentral ng Pilipinas (BSP).

Pascual, 78, obtained a graduate degree from the University of the Philippines, a graduate degree from Columbia University and an undergraduate degree from the Ateneo de Manila University.

Pascual is also an independent director of Allianz PNB Life Insurance Inc., PNB Mizuho Leasing and Finance Corp., PNB-Mizuho Equipment Rentals Corp., PNB International Investments Corp., and PNB Holdings Corp.

He also chairs the Bataan Peninsula Educational Institution Inc. and is president of Tala Properties Inc. and Woldingham Realty Inc.

Pascual is also an official of Apo Reef World Resort, Sarco Land Resources Ventures Corp., SCTEX Development and Franchisers Corp., Hermosa Golden Rainbow Corp, and Green Grower Farm.

Pascual is also a partner of the University of Nueva Ecija Caceres Bataan branch and a member of the multi-sectoral governing council of the Bureau of Customs (BOC).

Meanwhile, Coronel, who has an undergraduate degree from the Ateneo de Manila University, is now a member of the Australia Institute of Company Directors. He was also former executive director of the Bankers Association of the Philippines (BAP).

In the past, Coronel occupied the position of chairman of PNB-IBJL Equipment Rentals Corp., chairman for PNB-Mizuho Leasing and Finance Corp., managing director at BAP Credit Bureau Inc., president at Cebu Bankers Association, project director at Small and Medium Enterprise Credit Program, treasurer and trustee at Capital Market Development Council, treasurer at PDS Holdings Corp., director at Software Ventures International Corp., chairman for PNB-IBJL Leasing and Finance Corp. as well as treasurer and director at Philippine Depository & Trust Corp.