BPI bares executive movements

The Bank of the Philippine Islands (BPI) will implement major executive movements in the bank.

BPI senior vice president Alfonso Salcedo Jr. will be the new president of BPI Family Bank. Salcedo will relinquish his current position as president of the BPI Insurance Group, which includes Ayala Life Assurance, Ayala Plans and BPI Bancassurance. BPI Family Bank president Aurelio Montinola III was recently elected BPI director, and will now concentrate on his role as senior executive vice president and COO of BPI.

Aside from the aforementioned companies, Salcedo also holds directorship positions in BPI/MS Insurance Corp., National Reinsurance Corp. of the Philippines and Universal Reinsurance Corp. Salcedo is an honor graduate of the Ateneo de Manila (AB Economics Honors Program).

BPI executive vice president Emilio de Quiros, meanwhile, will take over Salcedo’s post at the BPI Insurance Group. De Quiros will relinquish his post as head of the BPI Asset Management and Trust Group, the largest fund manager in the trust industry with over P130-billion under management.

De Quiros brings with him 30 years of banking and finance experience, having held previous positions as treasurer and chief technology officer in the former Far East Bank and Trust Co. He graduated from the Ateneo de Naga (cum laude) with a Bachelor of Arts Degree in Economics and earned his Masters Degree in Economics from the University of the Philippines.

Taking over De Quiros’ post is BPI senior vice president Adelbert Legasto. An AB Economics graduate of the Ateneo de Manila University, Legasto had further studies at the Ateneo Graduate School of Business and at the Wharton School of Pennsylvania.

He brings with him 33 years of experience. It was during his leadership that BPI became the largest trust fund manager in March 1999 prior to the merger with Far East Bank. He has been active in contributing to the development of Philippine capital markets, having become president of the Trust Officers Association of the Philippines, governor of the Philippine Stock Exchange, incorporator of the Philippine Clearing Depository and president of the PSE Foundation, among others.