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July 14, 2024

BDO exec retires, nominated to the Board of Directors

An executive of Sy-led BDO Unibank Inc. headed by bankero Nestor Tan is scheduled to retire towards the third week of April but was nominated to the 11-member Board of Directors of the listed bank.

The retirement of BDO senior executive vice president and institutional banking group head Walter Wassmer is set to take effect on April 21 this year.

Wassmer, 64, is also a director of BDO Leasing and Finance, BDO Finance Corp., and BDO Capital & Investment Corp.

He was previously the chairman and officer-in-charge of BDO Elite Savings Bank (formerly GE Money Bank), and held directorships in MMPC Auto Financial Services Corp., MDB Land, Mabuhay Vinyl Corp., and Banco De Oro Savings Bank (formerly Citibank Savings, Inc.).

He holds a Bachelor of Science degree in Commerce from De La Salle University.

Wassmer has been nominated for election to the Board of Directors of the country’s largest lender owned by the family of the late retail and banking magnate Henry Sy.