The Ayalas are losing one of its pillars in the Bank of Philippine Islands with the retirement of its long-time non-executive director Mercedita S. Nolledo.
The BPI board announced the retirement of the 79-year old Nolledo effective 19 May 2021.
Nolledo, who ranked second in the CPA board in 1960 and Bar exams in 1965, has been on BPI’s board since November 1991. She also served as senior managing director and senior counsel of the Ayala group.
BPI also named a Singaporean IT expert, Janet Guat Har Ang, as its new board member subject to the approval of the Monetary Board.
Ang is chairperson of SISTIC.com, Singapore’s largest ticketing agency, events organizer and a leading e-commerce player. She is also Singapore’s non-resident ambassador (designate) to the Holy See and a nominated MP of its parliament. She boasts of 30 years experience in IT, including a tour of duty as IBM Singapore managing director.
The BPI board and (3) Appointment of Mr. Aurelio R. Montinola III as Chairman of the Retirement and Pension Committee.
The Board reclassified the status of banker Octavio V. Espiritu and Antonio Jose U. Periquet from independent directors to non-executive directors to facilitate Ang’s entry.