Yap family names Duterte spy chief Jun Esperon as Philtrust chairman in place of Jimmy Laya

Philippine Trust Co. (Philtrust), the banking arm of the Yap family, is getting a top official of the Arroyo and Duterte administration as its new chairman.

Retired general Hermogenes “Jun” Esperon Jr. took over his board seat on August 3 with former Central Bank Governor Jaime “Jimmy” Laya sliding to vice chairman.

Esperon used to be an executive vice president for security of the Yaps’ media firm, Manila Bulletin Publishing.

Esperon used to be a Cabinet Secretary under the Arroyo administration and the National Security Adviser under the Duterte years.

Philtrust also elected Dr. Beatrice Jane L. Ang as a new independent director along with Esperon.

They replaced Lope M. Yuvienco and Atty. Daniel Y. Laogan.