Trust Officers Association of the Philippines (TOAP) pays courtesy call on Bangko Sentral ng Pilipinas

The Board of Directors for 2008-2009 of the Trust Officers Association of the Philippines (TOAP) poses with BSP Governor Amando Tetangco Jr. (seated center) and Deputy Governor Nestor Espenilla Jr. (seated fourth from left). Also shown seated (from left to right) are: TOAP vice president and director for legal and regulatory affairs Marvin Fausto, SVP of BDO; TOAP president Raul Diaz, FVP and trust officer of PBCom; treasurer and director for finance Ma. Elena Sarmiento, FSVP and trust officer of PNB; Standing (from left to right) are: TOAP advisory board Rafael Ayuste Jr.; TOAP advisory board Ma. Lourdes de Vera, SVP of BDO; director for special events Ma. Teresa Toledo, head retail funds business of Deutsche Bank; director for information and publication Angel Marie Pacis, trust portfolio manager of RCBC; director for ways and means Irene Diomampo, VP and trust officer of ING Bank; director for arbitration, ethics and education Josephine Cervero, VP of Metrobank; corporate secretary Eduardo Chaves, VP and trust officer of Landbank; and director for membership Serafin Tongco, SVP and trust officer of Banco Filipino.

TOAP is the umbrella organization of trust departments of banks and non-bank institutions authorized by BSP to offer trust and other fiduciary services to its customers and the investing public.

TOAP members have been in the forefront in offering a wide array of investment products that cater to the diversified financial needs of both retail and large investors. Product offerings include different types of UITF in both peso and US dollar, invested in sovereign bonds (GS), listed securities and other tradable investment-grade instruments.

Total trust assets under management by TOAP members reached a historic level of One Trillion Pesos in June 2007. This signified the continuous growth of local trust business and the confidence reposed by the general investing public among TOAP member banks.

With BSP’s active support and supervision, and the dynamic leadership of the new Board of Directors, TOAP expects the trust industry to reach new heights in better product offerings and higher standards of fund management at par with international best practices.