Bank of Commerce (BNCOM), an affiliate of San Miguel Corp., has picked a veteran investment banker as its new director.
The BNCOM board elected Simon Paterno as its new independent director starting June 1. He replaced long-time CocoLife director Carolina G. Diangco who resigned due to “personal reasons.”
Paterno was part of the CIMB group, an ASEAN universal bank which offered to take over BNCOM in 2021. CIMB had planned to install Paterno as BNCOM chief executive.officer but the deal fell through in 2013.
Paterno spent 18 years with JP Morgan & Co. starting in New York and Hong Kong. A year after being named managing director for Asia in 1997 at the height of the Asian financial crisis, Paterno was assigned to head JP Morgan’s Philippine business and investment banking.
In 2002, Paterno was named president and CEO of Development Bank of the Philippines.
He moved to Credit Suisse as its managing director and country manager from 2004 to 2012.
Paterno joined Bank of the Philippine Islands in 2012 as executive vice president where he led its non-treasury business, specifically insurance, merchant business, leasing, investment banking, and microfinance up to 2019.
He graduated cum laude from the Ateneo de Manila University (AB Economics) in 1980 and received his MBA from Stanford University in 1984.
A Dutch university that fell victim to a massive ransomware attack has partly received back its stolen money… which in the meantime more than doubled in value, a news report said on Saturday.