Bilyonaryo Fernando Zobel de Ayala is back in the boardroom of Bank of the Philippines Islands and his older brother Jaime Augusto Zobel de Ayala couldn’t hide his joy.
Fernando was elected by the BPI board to fill up the seat left by newly-minted Monetary Board Member Romy Bernardo. Fernando resigned from BPI and other Ayala-controlled businesses a year ago to take a medical leave for a still undisclosed health issue.
“I am glad to welcome Fernando back to the board of BPI. Fernando has played a crucial role in the Bank’s history and transformation throughout his almost three-decade tenure as non-executive director of BPI’s board,” said Jaime Augusto, the BPI chairman.
Fernando, who previously served as BPI’s vice-chairman from April 2013 to September 2022, was first elected to the board in October 1994.
Not just medical leave: Fernando Zobel resigns from all Ayala group posts to focus on health
Zobel is also taking over Bernardo’s other duties as member of the executive committee and personnel and compensation committee.
Fernando rejoined BPI in an advisory role last April which he has relinquished..