• RCBC names Buenaventura new CEO

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    Development Bank of the Philippines President and Chief Executive Officer (CEO), Gil Buenaventura, has been appointed as the new head of Rizal Commercial Banking Corp. (RCBC).

    In a statement on Monday, RCBC, the country’s seventh-largest commercial bank, said its Board of Directors approved the appointment of Buenaventura as president and CEO of RCBC effective July 1 this year.

    Buenaventura’s appointment comes after RCBC formally accepted the resignation of its former head Lorenzo Tan.

    “Soft spoken and a quiet worker, Buenaventura brings with him a wealth of experience in universal banking and large operations that is critical to RCBC’s further growth,” the lender stated.

    Buenaventura was a former senior executive vice president (EVP) and chief operating officer of the Bank of the Philippine Islands (BPI); President and CEO of Prudential Bank when it was acquired by BPI; EVP of Citytrust Banking Corp.; and a Citibanker for 18 years where he started as chief of staff to the country head and rose to become vice president, group head and senior credit officer.

    He obtained his Bachelor of Arts in Economics from the University of San Francisco and his MBA in Finance from the University of Wisconsin.

    At BPI, he was in charge of the bank’s major revenue-generating businesses and was either chairman or a member of the board of directors of BPI’s various subsidiaries.

    He also managed the bank’s special business units and several subsidiaries, and exercised direct oversight over non-revenue areas including information systems, human resources, and central operations.

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