RCBC’s Tan elected new BAP president

MANILA, Philippines - The Bankers Association of the Philippines (BAP) has elected Lorenzo V. Tan as president for the 2013 period, succeeding Alberto S. Villarosa.

Tan is president and chief executive officer of Rizal Commercial Banking Corp. (RCBC) while Villarosa is president and chief executive officer of Security Banking Corp. (Security Bank).

Tan said his election as head of the trade organization of the country’s commercial banking system comes at a time when the Philippine economy is on an upswing, and the banking industry can play a big role in sustaining the country’s progress.

Prior to joining RCBC in 2007, Tan was president and CEO of Sun Life of Canada (Philippines).  He also took the helm at the Philippine National Bank (PNB), where he turned the formerly losing bank’s performance around in two years, ahead of its five-year schedule, and was also president of the United Cocount Planters Bank (UCPB). 

A graduate of the JL Kellogg Graduate School of Management, Northwestern University in Evanston, Illinois, he finished his commerce degree from the De La Salle University in 1982.  He has also extensively worked abroad in executive posts he held for several years in Citibank (NA) New York, Los Angeles and Singapore.

“As an advocate of innovation and change, I will push for a banking industry that is able to maximize available technologies in introducing products and services that cater to the ever changing needs of our customers,” he added.

The 51-year old banker, widely known as the “Miracle Man” for dramatically turning around disadvantaged local financial institutions, was also elected chairman of the Asian Bankers Association (ABA) last November.

ABA is an alliance of Asia Pacific’s most influential banks with the aim of providing a forum for advancing the cause of the banking and finance industry in the region and promoting regional economic cooperation.

Tan said as ABA and BAP chief, he intends to be sensitive to developments and trends across the region and see which learnings from other member countries can be adopted locally and bring in significant benefits.

Joining Tan in this year’s roster of BAP officials are: Antonio C. Moncupa Jr. (East West Banking Corp.), first vice president; Enrico S. Cruz, (Deutsche Bank AG Phil.) second vice president; Gil A. Buenaventura (Development Bank of the Philippines), secretary; and Roberto L. Panlilio, (JP Morgan Chase Bank), treasurer.