Emmanuel Herbosa, former president and CEO of the Development Bank of the Philippines, has been appointed chairman of Philippine Veterans Bank, replacing former Finance Secretary Roberto de Ocampo.
De Ocampo, who led the bank for 12 years, stepped down last month. His departure marks the end of a long tenure that saw the bank expand its services while maintaining its core focus on supporting Filipino veterans and their families.
Herbosa’s appointment was confirmed during the bank’s recent organizational meeting, according to sources familiar with the matter who spoke with Bankero magazine. The bank also named Carlos Alfonso Ocampo as vice chairman. Ocampo is a corporate lawyer who also sits on the boards of EEI Corp. and Benguet Corp.
The 15-member board overseeing Philippine Veterans Bank includes several prominent figures from finance, law, and government.
Among them are Alfredo Panlilio, president of Maya Bank and current head of the Management Association of the Philippines, who will serve as an independent director; former Supreme Court Justice Renato Puno; and Mel Georgie Racela, the former executive director of the Anti-Money Laundering Council’s operational arm.
Also on the board is Jose Nunez, a former chairman of the DBP, alongside Gerardo Manuel Luis Anonas, Marie Josephine Diana Calatrava, Alberto B. Carlos, Eulogio V. Catabran III, Renato Claravall, Jofel Kristine Marie Filamor, Cesar Rubio, Reynaldo Velasco, and Anthony M. Te.
Herbosa’s appointment signals continuity in the bank’s development-oriented approach while bringing in fresh leadership to help navigate an increasingly competitive banking environment.
