FIRST Metro Investment Corp. (FMIC), the investment bank of the Metrobank Group, is up for a big change in top management as its president will retire next year.
In a statement, FMIC said President and Director Roberto Juanchito Dispo – who served FMIC for 18 years – will be retiring from the investment bank on January 1, 2016.
He will be replaced by Rabboni Francis B. Arjonillo, who is the former head of Land Bank of the Philippines’ Treasury and Investment Banking Sector.
Dispo has been with FMIC since 1998, after leaving his post as a Deputy Treasurer of the Philippines. Under Dispo’s management and expertise, FMIC grew and established itself as one of the major players in the capital markets.
He was elected president in 2011 for his efforts in building the investment bank as one of the Philippines’ largest.
Dispo was responsible for launching innovative products such as OFWs Bonds, Progress Bonds, ADB Peso Bonds, and the On Shore Dollar Bonds. He masterminded the country’s maiden exchange-traded fund, the First Metro Philippine Equity Exchange-Traded Fund that was listed on the Philippine Stock Exchange (PSE) on December 2, 2013.
Until Dispo’s retires, Arjonillo is joining FMIC as senior vice president on November 2.
Before joining Landbank in 2012, he was a treasurer at Citibank in Australia and then in Vietnam where he was the founding chairman of the Vietnam Bond Market Forum.
In the Philippines, he was a former president and director of the Money Market Association of the Philippines. He holds an AB Economics Degree from De La Salle University and a Masters in Business Management from the Asian Institute of Management.