THE board of directors of the Development Bank of the Philippines (DBP) said it has elected veteran banker Cecilia Borromeo, former officer-in-charge of state-run Land Bank of the Philippines, as DBP’s new president and chief executive officer.

Before her election as DBP president and CEO, Borromeo took her oath of office as member of the DBP board of directors before Finance Secretary Carlos Dominguez 3rd at the bank’s head office in Makati City. Maria Lourdes Avancena Arcenas also took her oath as a DBP board member, along with Borromeo.

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