9 brokers seek Philippine Stock Exchange board seats in May 9 polls

MANILA, Philippines - Nine brokers will be seeking seats at the Philippine Stock Exchange (PSE) board in the election scheduled on May 9 this year.

Based on the official list of candidates released by the PSE yesterday, a total of 17 individuals are running in this year’s elections.

Of the 15 seats in the board, seven are reserved for brokers while eight are for non-brokers. Of the eight non-broker seats, three are for independent directors, one for president-director and four for other non-broker directors.

The broker seats, on the other hand, are broken down into five “big” brokers or those with paid-up capital of more than P500 million and two “small” brokers with paid-up capital of less than that amount.

Current PSE president-director Francis Lim has been nominated for another term.

Aiming for the seven broker-director slots are former PSE chairman Vivian Yuchengco, William Ang, Ismael Cruz, Eusebio Tanco, Alejandro Yu, Eduardo David, Frederick De Vera, Eddie T. Gobing and David Chua,

Nominated to run as independent directors, meanwhile, are John Aloysius Bernas, Vicente Panlilio, and Hans Sicat. The next PSE chairman will be picked from these three nominees.

Others vying for the non-broker positions are Amor Iliscupidez and Annabelle Chua (both to represent issuers), Wilfred Son Keng, Omelita Tiangco, Eduardo David and Frederick De Vera.