Arroyo, Yuchengco team up anew for PSE elections

Incumbent Philippine Stock Exchange (PSE) chairperson Alicia Arroyo  formalized yesterday her bid to run anew in next month’s elections in order to pursue reforms that have been initiated under her administration.

Among the broker-nominees being considered to run under Arroyo’s ticket are incumbent director Marita Limlingan, Paul Wee of Capital Equities, Nestor Aguila of DA Market Securities, and Ma. Erlinda Mañalac of First Integrated Capital Securities.

"I have nominated colleagues whom I believe possess a neutral outlook and the professional competence for the broker-director positions of the PSE board. I am ready to continue working with them to pursue the reform agenda that has been initiated," Arroyo said.

"It is in the best interest of the Exchange and all its stakeholders that unity be fostered for us to move forward and achieve our long-term objectives," Arroyo further said.

With Arroyo seeking re-election, two distinct groups are again contesting the seven seats in the PSE board reserved for broker-shareholders.

Businessman-stockbroker Robert Coyiuto, a former chairman of unified the Makati and Manila Stock Exchange, earlier launched his re-election bid.

Former PSE chairperson Vivian Yuchengco, who bucked Arroyo in last year’s elections, has also reportedly signified her intention to run again as director.

Supporting his bid are former PSE chairman Felipe Yap and Trinidad Kalaw and brokers Filomeno Francisco, Eddie Gobing, Edwin Luy, Francis Chua, Ismael Cruz and Joey Roxas.

The Coyiuto group is also supporting the candidacies of Omar Cruz and Napoleon Rama for independent or non-broker directors of the PSE.

The PSE will be holding its annual stockholders and board elections on March 13.