DFNN bolsters management team to propel growth plans; Ricardo Banaag named president and CEO

Raymond Garcia’s DFNN has reorganized its management team to support its growth strategies.

In a regulatory filing, DFNN has assigned its former president and CEO Calvin Lim to a new role as executive operating director, while its chief operating officer Ricardo Banaag was promoted as new president, CEO, and director.

“I am honored to have this opportunity to lead Team DFNN to a sustained growth trajectory across its core and emerging lines of business,” Banaag said.

Donald Limcaco, an accomplished practitioner in IT operations, change enablement, and strategic planning, meanwhile, has been appointed as chief information officer, while also serving as chief operating officer of several DFNN operating subsidiaries.

DFNN has also named Mark Allan de Ungria as chief revenue officer, Francis Formalejo as chief technology officer, and Jacob Edel as vice president for marketing to strengthen its management team.

DFNN said the group is well poised to expand its cutting-edge technology leadership in the various domestic and international markets it serves given Banaag’s leadership and experience in the technology sector, Limcaco’s depth of knowledge in strategic financial and operations management, as well as Edel’s global marketing expertise.

“As the bulk of the group’s business pipeline involves cutting-edge technology and its gaming arm continue to hold a strong foothold in the industry, management and the board of directors saw it fit to have a additional gaming related and additional technology experts to oversee the execution of planned strategy and operations,” DFNN said.

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