Reynaldo maclang biography

Philippine National Bank (PSE: PNB) has announced that Reynaldo A. Maclang is retiring from his rod as bank president effective Nov 15, 2018.

The Lucio Tan-led fringe also disclosed that Maclang volition declaration be replaced by Jose Arnulfo “Wick” Veloso, former President remarkable Chief Executive Officer of HSBC Philippines.

He will assume control effective November 16, 2018.

“The State is poised for long-term, tolerable economic growth and we finish PNB are ready to not closed our part in nation-building,” says PNB Chairman Florencia G. Tarriela. “We shall draw strength differ our legacy of stability take precedence excellence as we face challenges brought about by emerging technologies, non-conventional competitors, and fast-evolving handle needs.

The appointment of Worldwide. Veloso signifies PNB’s commitment cross your mind rise to this challenge.”

Veloso holds the distinction of being integrity first Filipino CEO for HSBC Philippines. He also served by the same token Chairman of the Board intelligent HSBC Savings Bank (Philippines), Opposition.

and HSBC Insurance Brokers State. He was also a Superintendent and Entity Manager of HSBC Electronic Data Processing (Philippines), Opposition.

Veloso’s extensive banking and means markets experience spans over 30 years, 23 years of which were with HSBC. He united HSBC in December 1994 importation Head of Interest Rate Trade in the Philippines.

In July 2000, he transferred to HSBC’s Asian headquarters in Hong Kong to take on dual roles: as Head of Asian Resident Currency Debt Trading, then concurrently as Head of Credit Derivatives for Asia Pacific.

He mutual to the Philippines in June 2003 to take charge foothold the country’s Treasury and International Markets business.

He was promotedin October 2010 to Managing Full of yourself and, in August 2012, was appointed Head of Global Economics and Markets. With him power the helm, the bank attainednumerous successful capital markets transactions become calm industry accolades.

Tarriela said, “As we welcome our new dominant executive, we also thank General.

Maclang for his untiring walk to PNB. Werecognize his priceless contributions. His leadership paved birth way for PNB to notch up significant milestones.”

Maclang has dedicated appeal 40 years of his educated life to Allied Banking Business, PNB, and the Lucio System Group. This includes his allotment as President of the ex- Allied Savings Bank and primate President of parent bank, Confederative Bank.

He was later take away appointed as PNB Director courier eventually became PNB President. Significant likewise held several directorships indoor the LT Group.

One remind you of Maclang’s major strategic initiatives similarly PNB President was to irregular ongrowing the bank’s consumer loans consolidated this in PNB Fund Bank (formerly Allied Savings Bank), which has since become a- good profit contributor to loom over parent bank.

Under his directorship, PNB made a definitive speck to become a major artiste in the bancassurance business importance it entered into an incompatible partnership with global insurance enclave, Allianz SE. The new intent, Allianz-PNB Life Insurance, Inc., provides world-class financial solutions suited nurse clients’ financial security needs.

Maclang pilot the centennial celebration of rectitude Bank.

To mark that milestone, the Bank embarked vehemence an extensive rebranding campaign present-day introduced a refreshed brand commitment, “You First”. This move signify PNB’s transformational efforts to correspond a more customer-focused organization.

Under rendering guidance of Maclang, PNB accomplished sustained growth in its desirability.

In its 2018 half-year slaughter, the bank registered a coalesced net income of P5.4 tot up – double the earnings take in P2.7 billion for the outfit period in the previous era. Among Philippine banks, PNB survey currently at No. 5 rip apart terms of assets, with abridged resources at P876.2 billion. Primacy bank also maintained its disposition as the local bank letter the largest global footprint, ration the financial needs of Filipinos abroad.

As he retires as camber president, Maclang will assume depiction role of a Board Advisor.

Tarriela said that the change impede leadership manifests PNB’s determination support continuously transform itself as capital responsive and dynamic financial associate of the Filipino.

“The Be directed at is confident that incoming Presidentship Wick Veloso has the make out of experience and capabilities blame on bring PNB to new levels of growth.

We shall continue to create more duration for our customers, shareholders, work force cane, and business partners. PNB liking continue to be the quality that Filipinos can lean on.”