Florido Casuela named PNB OIC while Lucio Tan begins search for new president

Philippine National Bank director Florido P. Casuela will serve as the bank’s officer-in-charge until ultra bilyonaryo Lucio Tan appoints the new person to head his banking arm.

Casuela, who was previously president of the Land Bank of the Philippines and MayBank Philippines, assumed office effective today following the resignation of Jose Arnulfo Veloso as PNB president.

“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. 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,” said PNB chairman Federico C. Pascual.

Casuela joined PNB in 2006 as director. He is currently the chairman of PNB Securities and Casuela Equity Ventures. He is also a director of PNB International Investments Corp., PNB RCI Holdings Co., and Surigao Micro Credit Corp.

A certified public accountant, Casuela is a senior consultant of the Bank of Makati.

PNB is currently the fifth largest bank by assets, with consolidated resources at P1.1 trillion as of the end of the first quarter.

It also maintained its position as the Philippine bank with the largest global footprint, serving the financial needs of Filipinos abroad.