Rizal Commercial Banking Corp. (RCBC) has elected Cathay Life Insurance senior vice president Watson Hua-Sheng Yang to its board, maintaining representation from one of the Yuchengco-led lender’s biggest shareholders.
Yang’s appointment took effect on Sept. 1, subject to approval by the Bangko Sentral ng Pilipinas and other regulators. He replaces Joe Shih Chiao Lin, who resigned from the board effective Aug. 25.
Cathay Life, Taiwan’s largest life insurer, owns 18.68% of RCBC. It invested nearly 18 billion pesos in 2014 to acquire an initial 20% stake in the Philippine bank.
Yang heads Risk Management Division 1 at Cathay Life, overseeing financial and geopolitical risks as well as asset-liability management strategy.
He will serve on RCBC’s Related Party Transactions Committee, advise its Corporate Governance and Nominations and Audit and Compliance committees, and sit as an observer on the Risk Oversight Committee.
Yang joined Cathay Life in 2007 and has experience in risk modelling, mergers and acquisitions evaluation and corporate credit analysis. He previously worked as a financial engineer at Sifeon and G5 Capital Management Ltd.
Separately, RCBC appointed Aileen Dela Cruz as head of its Human Resources Group effective Sept. 16, succeeding the retiring Rowena Subido.
Dela Cruz has led RCBC’s Talent Management and Analytics Division since November 2024 and currently serves as Human Resources Group head-designate.
