Philippine National Bank (PNB) has appointed veteran bankero Florido Casuela as officer-in-charge while the Lucio Tan-led bank is looking for a replacement for bankero Wick Veloso who has been appointed by President Ferdinand “Bongbong” Marcos Jr. to a government post.
Casuela, 80, took over as the bank’s OIC this after noon as Veloso transferred to the Government Service Insurance System (GSIS) as president and general manager.
PNB chairman Federico Pascual said Casuela will serve as OIC while the bank searches for a new president and CEO.
“PNB is poised to start a new chapter in our history and it is a very opportune time as the Philippines is also starting a new journey as a nation under a new administration,” the bankero said.
Pascual added that the Board of Directors of PNB is confident that Casuela has the depth of experience and ability to sustain bank’s momentum and bring it to new levels of growth.
“We shall continue to create more value for our customers, shareholders, employees, and business partners. PNB will continue to be a reliable partner of the national government in rebuilding our nation,” Pascual said.
Casuela joined PNB in 2006 as Director. He is currently the Chairman of PNB Securities and Casuela Equity Ventures Inc. He is also a Director of PNB International Investments Corp., PNB RCI Holdings Co. Ltd., and Surigao Micro Credit Corp. He is a Senior Consultant of the Bank of Makati.
Prior to PNB, he served as president of state-run Land Bank of the Philippines and of Maybank Philippines Inc. He is a Certified Public Accountant. He obtained both his Bachelor of Science degree in Business Administration, major in Accounting and his Master’s degree in Business Administration, from the University of the Philippines.
“Over the recent years, PNB has been preparing itself for long-term, sustainable growth, and this includes getting ready to do our part in nation-building,” Pascual said.
Veloso assumed the PNB presidency on November 15, 2018. Prior to PNB, he held the distinction of being the first Filipino CEO for HSBC Philippines. Veloso’s extensive banking and capital markets experience spans over 30 years. Apart from being the Bank’s CEO, he also held several directorships within the Lucio Tan Group.
As PNB president and CEO, Veloso’s main challenge was leading the bank through the COVID-19 pandemic and ensuring continued service to customers. At the height of the pandemic, the bank beefed up its online banking services by introducing online account opening, offering mobile banking transactions, and enhancing its digital banking app.
Likewise, it was under Veloso’s leadership when the Bank solidified its sustainability vision and roadmap, focusing on sustainable financing and profitability.
“As we start this new chapter, we thank Mr. Veloso for his invaluable contributions to PNB. His strategy-focused leadership paved the way for PNB to achieve significant milestones and allowed the bank to carry its mission through the pandemic,” Pascual added.