Noli swears in new Pag-IBIG chief executive

MANILA, Philippines - Vice President and Housing and Urban Development Coordinating Council Chairman Noli De Castro swore in the new head of the Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund.

De Castro, who also chairs the HDMF board of trustees, administered the oath of office to the newly appointed CEO, Jaime A. Fabiaña.

Fabiaña has been deputy CEO of the Pag-IBIG Fund since 2003 and has been leading the provident fund and housing agency as officer-in-charge since March this year.

The Vice President expressed his confidence in the new CEO, who has been with HDMF for almost 28 years – joining shortly after it was established as a government-run corporation on Dec. 14, 1980.

De Castro described Fabiaña as the institution’s first CEO to have truly risen from the ranks, having started out as an Administrative Officer at its Davao branch in 1981.

Speaking during the oath-taking ceremony, he called on the Pag-IBIG employees to give their full support to their new CEO.

“The HDMF is fortunate to have a CEO whose concern for the Fund and knowledge of the work at hand have both been proven. All he needs is your full cooperation to ensure the success of this institution under his leadership,” he said.

De Castro added that the occasion marks a “new beginning” for the biggest housing finance institution in the country.