Aurelio R. Montinola III, 66, Filipino, is a Director of Bank of the Philippine Islands (BPI). His other affiliations, among others include, Chairman, Far Eastern University; Chairman, Kabang Kalikasan ng Pilipinas Foundation Inc.; Vice Chairman, Philippine Business for Education; Director, BPI/MS Insurance Corporation; Trustee, Makati Business Club; and Member, Management Association of the Philippines.
He graduated with BS Management Engineering at Ateneo de Manila University in 1973. He received his MBA at Harvard Business School in 1977.
His past affiliations include being President of Bank of the Philippine Islands for 8 years, President of the Bankers Association of the Philippines for 4 years, President of the Alliance Francaise de Manille for 7 years, and Trustee of the International School of Manila for 4 years.
Mr. Darren Thomson
Non-Executive Director/Vice-Chairman of the Board
Mr. Darren Thomson was appointed to AIA Thailand, as Chief Strategic Bancassurance Alliance officer with effect from February 1st, 2018. He is also a member of AIA Thailand Executive Committee. With countless years of experiences in the financial services industry, he will be able to contribute to the success of the new Bancassurance Partnership with one of the most respectable and successful banks in Thailand, Bangkok Bank. Within this new role, he will be working closely with the senior management of Bangkok Bank in formulating and executing the short to long term strategic plans to support the growth, profitability, and operational success within the framework of the partnership agreement.
Mr. Thomson was formerly a director of Partnership Development in the Strategy & Corporate Development Department of AIA Group Office and before that CEO Group Partnership Distribution AIA Group Office. There, he implemented and built a strong and successful partnership with Citi Bank in 11 regional countries as well as with many local bank partners. Within the Group Office roles, he ensures that AIA, is the most preferred partner in Asia for leading banks, IFA’s & HNW, and affinity groups, while providing best- in- class bancassurance and partnership capabilities. Darren joined AIA Group Office in May 2014 as the Regional Head of Business Development & Special Projects. Prior to joining the AIA, he held several senior positions in the financial services industry in the United Kingdom and Asia such as the Regional Head of Strategic Channel Development at Manulife Financial In Hong Kong; President and CEO at Manulife (Singapore) Pte., Ltd; Chief Partnership Distribution Officer at Prudential Assurance Company in Hong Kong; and Regional Manager at Prudential Assurance Company, UK.
Surendra Menon is the Chief Executive Officer of BPI-Philam Life Assurance Corporation. Prior to his appointment, Mr. Menon held the role of Regional Director for Bancassurance of the AIA Group. As a catalyst in the Bancassurance industry, he has built and developed various profitable businesses in Asia including Indonesia, Singapore, and the Philippines. He joined AIA in 2003 and was responsible for acquisition of 10 partnerships in Indonesia including BCA, CIMB, ANZ and was the Deputy CEO and CDO. He then became the subject matter expert for the AIA Group in Bancassurance for 2013 to 2015. Helping many countries in Asia with 2014 & 2015 final on BPI-Philam in Philippines. As the current CEO, he steers the management of BPI-Philam to transform the business into one of the leading life insurance companies in Philippines.
Mr. Menon has actuarial, financial planning and investment management qualifications from UK, Singapore and Indonesia, respectively. Prior to joining AIA, he worked in DBS Bank in Singapore, BDNI Life in Indonesia, and the Insurance Corporation of Singapore (now known as Aviva in Singapore). He was also a director of GT Asset Management in forming the first mutual fund in Indonesia and, was a police inspector in the Singapore Police Force and Captain in the 1st Rescue Battalion Singapore Civil Defense as part of his national service duty.
Mr. JOSEPH ALBERT L. GOTUACO
Filipino, 52 years old, Mr. Gotuaco is Head of BPI’s Retail Banking Group and is responsible for the Bank’s retail customer relationships, and its branch and retail sales network. Mr. Gotuaco also serves as Chairman of the Board of BPI Direct BanKO, the Bank’s microfinance arm. He is a member of the Board of Directors of BPI Family Savings Bank and BPI International Finance Ltd., a Hong Kong-based subsidiary serving high net worth clients. Mr. Gotuaco is a member of the Bank’s Management, Asset & Liability, IT Steering, and Operating & IT Risk Management Committees. Mr. Gotuaco served as CFO of BPI between 2013 and 2017.
Mr. Gotuaco began his banking career in New York in 1986, as a trader and risk manager for fixed income products at Chemical Bank, a predecessor firm of J.P. Morgan. In 1994, he was based in Hong Kong for J.P. Morgan, then a major shareholder of BPI, where he was responsible for arranging financings for corporate and sovereign clients in the Philippines and in Southeast Asia. In 2002, Mr. Gotuaco worked at Credit Suisse; in 2005, he worked Merrill Lynch and served on the firm’s Asia-Pacific Operating Committee. At both Credit Suisse and Merrill Lynch, he was responsible for developing and marketing fixed income financings and risk management solutions for sovereign, financial institution, and corporate clients across non-Japan Asia. Immediately prior to joining BPI in 2013, Mr. Gotuaco worked in a Singapore-based investment company, where he helped the Brunei government manage portfolio investments, and founded a captive finance company targeting U.S.-based retail and SME clients in the aviation sector. Mr. Gotuaco obtained his B.S. Economics in Finance and Marketing, summa cum laude, from the Wharton School, University of Pennsylvania, in 1986. He obtained his MBA from Harvard Business School in 1994. Mr. Gotuaco also serves as a non-executive board member of AirFleet Capital, Inc., a U.S.-based originator of retail and corporate loans for general aviation aircraft.
Mr. Ariel G. Cantos
Non-Executive Director, Chief Executive Officer, Philam Life
Aibee Cantos is the CEO of Philam Life. Prior to his appointment, he held the role of CEO of BPI-Philam, the bancassurance joint venture of Philam Life and the Bank of the Philippine Islands, and the leading bancassurance operation in the Philippines. He is also a member of the Board of Directors of various Philam companies and sits as a Chairman of Philam Foundation.
His most recent position at Philam Life was Senior Vice President and Chief Agency Officer, before spearheading the growth of BPI-Philam in 2013. He joined Philam Life right after completing his Bachelor’s Degree in Economics, Honors Program, from the Ateneo de Manila University and had an enriching and successful career in Philam Life’s Agency Distribution Channel, where he served for close to 30 years. He held various positions within the channel such as Profit Center Head of Accident & Health Products, Director of Manila Agencies, and Director of Provincial Agencies.
Mr. Cantos is also currently a corporate member of Philippine Life Insurance Association Inc. (PLIA), Management Association of the Philippines (MAP) and Makati Business Club (MBC).
Mr. Cezar P. Consing
Cezar P. Consing, 58 years old, has been since 2013 President and Chief Executive Officer of Bank of the Philippine Islands (BPI), and a Senior Managing Director of Ayala Corporation, BPI’s controlling shareholder. He has served on BPI’s board of directors for 16 years (1995 - 2000, 2004 - 2007, 2010 - present), 5 years representing J.P. Morgan & Co., then BPI’s second largest shareholder, and 3 years as an independent director. Mr. Consing serves as chairman of BPI’s thrift bank, investment bank, UK bank, property and casualty insurance, leasing, and rental subsidiaries, and vice chairman of its foundation; and is also a board director of BPI’s life insurance, asset management and micro finance subsidiaries. Mr. Consing is a member of BPI’s executive committee, and is chairman of its credit and management committees.
Mr. Consing serves as Chairman of the publicly listed National Reinsurance Corporation, President and board director of Bancnet, Inc., and board director of LGU Guarantee Corporation, three industry consortium institutions where BPI is a minority shareholder.
Outside his association with BPI, Mr. Consing serves on the boards of four private companies: The Rohatyn Group, Sqreem Technologies, FILGIFTS.com and Endeavor Philippines. He has also served as an independent board director of three public companies: Jollibee Foods Corporation (2010 - present), CIMB Group Holdings (2006 - 2013) and First Gen Corporation (2005 - 2013). He is also a board director of the US-Philippines Society and a trustee of the Manila Golf Club Foundation. Mr. Consing has been a member of the Trilateral Commission since 2014.
Mr. Consing first worked for BPI, in corporate planning and corporate banking, from 1980 - 1985. He worked for J.P. Morgan & Co., based in Hong Kong and Singapore, from 1985 - 2004, rising to co-head or head the firm’s investment banking business in Asia Pacific from 1997 - 2004, the last five years as President of J.P. Morgan Securities (Asia Pacific) Ltd. As a senior Managing Director of J.P. Morgan, Mr. Consing was a member of the firm’s global investment banking management committee and its Asia Pacific management committee.
Mr. Consing was a partner at The Rohatyn Group from 2004 - 2013, headed its Hong Kong office and its private investing business in Asia, and was a board director of its real estate, and energy and infrastructure private equity investing subsidiaries. Mr. Consing received an A.B. Economics degree (Accelerated Program), magna cum laude, from De La Salle University, Manila, in 1979. At university, he was a member of the student council, the student newspaper and the varsity track and field team. In recent years, he has served on the advisory committees of the university and its school of economics. Mr. Consing obtained an M.A. in Applied Economics from the University of Michigan, Ann Arbor, in 1980.
Simon R. Paterno
Simon R. Paterno is the Executive Vice President of the Bank of the Philippine Islands (BPI) and heads the Financial Products and Alternative Channels Group of the Bank. He is responsible for managing the product businesses of the Bank, including Investment Banking, Corporate Loans, Transaction Banking, Retail Lending, Cards and Payments, Asset Management and Trust, Electronic Channels, and Deposits. He also oversees subsidiaries and affiliates in insurance, leasing, and merchant acquiring. He is a member of the Management Committee of BPI.
Mr. Paterno is the former President and CEO of the Development Bank of the Philippines, serving from 2002-2004. He worked for 18 years at the New York, Hong Kong, and Manila offices of J.P. Morgan, serving finally as Managing Director in charge of sovereign clients during the Asian Financial Crisis of 1997-98, and as Country Manager for the Philippines until 2002.
He also worked for 8 years at Credit Suisse as Managing Director and Country Manager for the Philippines.
Mr. Paterno obtained his MBA from Stanford University in 1984. He was awarded his A.B., cum laude, Honours Program in Economics from Ateneo de Manila University in 1980. In 2005, he was elected President of the Management Association of the Philippines. He serves on the boards of the Foundation for Economic Freedom and Ateneo Scholarship Foundation. He was named a TOYM awardee for Investment Banking in 1999.
Amb. Jesus P. Tambunting
Ambassador Tambunting is Chairman of Capital Shares Investment Corporation, an investment and management company. He was Chairman of Planters Development Bank, the Philippines’s leading bank for promoting and growing SMEs, which he founded in 1971. From 1993 to1998, he served as the Philippines’ Ambassador to the United Kingdom of Great Britain and Northern Ireland and concurrently, to the Republic of Ireland. In 2016, he was appointed by President Benigno Aquino III as Chairman of the Small Business Corporation.
In 2017, Her Majesty Queen Elizabeth II awarded Ambassador Jesus P. Tambunting the recognition as an Officer of the Order of the British Empire. He was conferred Master Entrepreneur and Entrepreneur of the Year 2009 by the British firm Ernst & Young and the SGV Foundation, and inducted into the World Entrepreneur Academy in Monaco in June 2010. He also received the International Alumnus Award from the University of Maryland in April 2011, the first Ramon V. del Rosario Sr. Award in Nation Building in 2010, the Distinguished Person of the Year 2009 from the Association of Development Financing Institutions in Asia and the Pacific, the Management Man of the Year 2003 from the Management Association of the Philippines, the Lifetime Achievement Award for 2005 from the Asian Bankers Association, the Distinguished Service Award from the Department of Foreign Affairs and “Knight Commander with Star” in 2008 and “Knight Grand Cross” in 2016 from the Equestrian Order of the Holy Sepulchre of Jerusalem.
Other roles include being Co-chairman of the Philippine-British Business Council, member of the Board of Trustees of the Carlos P. Romulo Foundation, Philippine Business for Education, PinoyMe Foundation, ABS-CBN Bayan Foundation, Makati Medical Center Foundation, and Caritas Manila. He is a member of the Makati Business Club National Issues Committee. From 2004 until May 2008, he served as Chairman of the Association of Development Financing Institutions in Asia and the Pacific, a regional organization of 127 development banks and institutions in 44 countries. He was elected to the Board of Directors of BPI-Philam Life Assurance Inc. in 2009.
The Ambassador earned his Bachelor of Science degree in Economics from the University of Maryland. Prior to that, he had obtained hissecondary education from the Culver Military Academy in Indiana and his elementary education from the Ateneo de Manila University.
Mr. Romeo L. Bernardo
Romeo L. Bernardo, 63, Filipino, is the Managing Director of Lazaro Bernardo Tiu and Associates (LBT), a financial advisory firm based in Manila. He is also a GlobalSource economist in the Philippines. He is Chairman of ALFM Family of Funds and Philippine Stock Index Fund. He is likewise a director of several companies and organizations including Aboitiz Power, BPI, Globe Telecom Inc., RFM Corporation, Philippine Investment Management (PHINMA), Inc., National Reinsurance Corporation of the Philippines (NRCP) and Institute for Development and Econometric Analysis. He is a member of the Philippine World Bank Advisory Group and a member of the Panel of Conciliators of the International Centre for Settlement of Investment Disputes. He previously served as Undersecretary of Finance and as Alternate Executive Director of the Asian Development Bank. He was an Advisor of the World Bank and the IMF (Washington D.C.). Mr. Bernardo holds a degree in Bachelor of Science in Business Economics from the University of the Pilippines (magna cum laude) and a Masters Degree in Development Economics at Williams College from Williams College in Williamstown, Massachusetts.
MESSAGE FROM THE CEO
President and Chief Executive Officer
In 2017, we continued our advocacy of making insurance accessible to all Filipinos as we built upon our foundations for growth. It was relatively a successful year, as we continued to grow our business, substantially insuring 592,631 families.
This was built on the support of our partners – BPI, Citibank, Our Institutional Distribution Partners and The Philam Group; our sales force and staff; and most importantly, our policyholders.
There were a number of notable achievements in 2017. Highlighting our efforts last year were our efforts in Total Wellness throughout the year. This included a series of product launches, campaigns, customer and employee engagement efforts, and our push for improving customer’s health and finances. As a result, customer’s quality of life was our topmost priority in all our initiatives.
2017 saw us launch 6 Products for better insurance accessibility for Filipinos and for integrating the Philam Vitality into the existing popular products, establishing the foundations for better quality of life for customers as our major focus.
Sales platform upgrades, and increased sales capacity with upgraded sales skills ensured that sales improved both in annualized premiums and policy counts achieving our “Best year ever”.
With continuous focus on customer service, we supported the In-Branch customer servicing with our first-in-the-country customer service center, VIBE, dedicated to providing our clients with quality after-sales services that make doing business with us easy and hassle free. Along with that we launched our Facebook page so we can better reach out to Filipinos on a platform they frequent through the content we publish.
2017 was also a year of giving back as BPI-Philam contributed P4,368,251.00 to PHILAM Foundation. Together with other Donors, the PHILAM Foundation built and turned over a total of 34 PHILAM Paaralan classrooms at the end of 2017.
All our efforts have begun to be recognized as we won the “Best Life Insurance Company in 2017” awarded by The World Finance Magazine. All of the above were cemented with an improving foundation of the development of skills that would help us build for the future. We strengthen our skills in social media, payment platforms, CRM, Big Data and Digital Service Platforms. We are therefore well on the way to ensuring the skills for the future are in BPI-PHILAM.
Once again, we thank our policyholders; our partners in BPI, Citibank, Philam Life, and the AIA group; our employees, our board of directors, our shareholders, our host of resource and supply partners; and our friends from the media. Together we have continued further toward our goal of narrowing the protection gap, making sure every Filipino is protected and empowered to live healthier, longer, and better with our comprehensive products and services.
Our efforts going forward will have to increase significantly to meet the growing needs of the Philippine public, as both the economy and the population continues to grow strongly.