Bermudez tapped to head Phl Veterans Bank

MANILA, Philippines - Philippine Veterans Bank (PVB) has tapped seasoned banker Joey Bermudez to be its new president as the bank moves to join the ranks of the major players in the banking industry.

PVB chairman Roberto de Ocampo said they believe Bermudez is highly capable of leading the bank’s top-caliber and world-class management team towards their goal.

A veteran banker who has been in the industry for almost three decades, Bermudez was the former president and CEO of Chinatrust (Philippines) Inc., the local subsidiary of Taiwan’s biggest privately-owned commercial bank, and held key positions at Philippine Savings Bank, Standard Chartered Bank and Philippine Commercial International Bank (now BDO).

“He (Bermudez) will have a crucial role in turning the bank into a major player in the industry. Innovations in consumer finance and commercial lending, as acknowledged by his peers, are some of the values that Joey brings to the organization,” Ocampo said.

Ocampo said Bermudez is credited with having built from zero an industry-leading consumer finance business, and for having transformed another institution from a purely corporate and commercial lender into a major player in mortgage loans, auto loans and small/medium-enterprise lending.

Bermudez, for his part, said: “I am honored and privileged to accept the appointment to say the least. Along with this, I recognize that the toughest challenge now for me as leader of this institution is to establish a solid reputation for growth, and build the bank into a truly lasting legacy to the nation and succeeding generations.”

In 2009, he was president of the Management Association of the Philippines. “I will definitely capitalize on my experience to make PVB a game-changer,” he added.

Bermudez holds a master’s degree in business economics and a bachelor’s degree in commerce, major in accountancy. A certified public accountant, he is a recipient of an outstanding alumnus award from his collegiate alma mater. 

He attended the Pacific Rim Bankers Program of the University of Washington.

PVB is a private medium-sized commercial bank owned by 385,000 Filipino World War II veterans and their families.

At present, the bank caters to both corporate and retail financial markets, and is also an authorized government depository.