1 month ago
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Niche developer Italpinas Development Corporation has appointed two veteran bankers as independent directors in its Board of Directors, further enhancing the breadth and depth of its leadership team.
In a disclosure to the Philippine Stock Exchange, the firm said, effective immediately, Alfonso L. Salcedo and Melchor C. Guerrero will join the board, bringing with them a wealth of experience and expertise.
Italpinas Chief Executive Officer Arch. Romolo V. Nati said"The appointment of Alfonso L. Salcedo and Melchor C. Guerrero reflects our ongoing commitment to strengthening our leadership and ensuring we have the best minds guiding our strategic direction.
“We are confident that their contributions will help us achieve our long-term goals and deliver value to our stakeholders."
For his part, Italpinas President Atty. Jose D. Leviste III said "We are proud to be welcoming Mr. Salcedo and Mr. Guerrero to our Board of Directors.
“Their impressive track records and deep understanding of their respective fields of expertise make them invaluable additions to our team. We look forward to leveraging their insights and expertise as we continue to drive our company's growth and success."
Salcedo has over 40 years of experience in banking. He has held numerous senior positions, where he demonstrated exceptional leadership and strategic vision, having served as President and Chief Executive Office of Security Bank from 2015 to 2019.
He served at the Bank of the Philippine Islands, as Executive Vice President from 2010 to 2015. This was preceded by other posts at the BPI group, including at the BPI Insurance Group, as President from 2000 to 2004; and at BPI Family Savings Bank, Inc., as President from 2004 to 2010.
His directorships and other managerial leadership positions have included posts at a variety of entities, including the Bankers Association of the Philippines, SB Cards Corp., SB Rental Corp., National Reinsurance Corp. of the Philippines, Santiago Land Development Corp., SB Equities, Inc., SB Finance Co., Inc., Citibank NA, Nippon Vicks KK, Security Bank Foundation, Inc., and Procter & Gamble Philippines, Inc.
“Italpinas Development Corporation represents an exciting convergence of innovation, sustainability, and growth. I am deeply honored to join the board at such a pivotal moment in the company's journey. I look forward to contributing my expertise and collaborating with my fellow board members to drive Italpinas towards even greater achievements,” said Salcedo.
Guerrero has been involved as the lead underwriter or advisory for listings on the Philippine Stock Exchange, NASDAQ, NYSE and on the NSX Australia achieving market capitalization for Agrinurture; Calapan Ventures; Cirtek Holdings Inc.; East West Bank; and IP Converge.
He has also served as President of Ernst & Young Transaction Advisory Services, President of Municipal Finance Co., and Vice President and Head of Capital Markets Development Division and member of the Management Committee of the Philippine Stock Exchange.
Guerrero also handled private equity transactions for Daniel Mercado Medical Center and HBC. He initiated the Real Estate Investment Trust law (REIT) law and the One Person Corporation (OPC).
“I am delighted to have been invited to serve a company that is in this exciting stage of its growth story. I look forward to providing innovative, value-added ideas to IDC and participating in the next chapters of its company life, as it takes larger strides,” he said.
