New Landbank chief vows greater focus to agriculture needs

MANILA, Philippines — Seasoned banker Lynette Ortiz formally assumed the top post in state-run Land Bank of the Philippines, committing to sustain gains and be more responsive to the needs of stakeholders, especially the agriculture sector.

Ortiz took his oath as Landbank’s 11th president and CEO before Department of Finance Secretary Benjamin Diokno. She will replace Cecilia Borromeo who served for four years.

As the new Landbank chief, Ortiz will face the latest developments surrounding the government-led financial institution.

These include the proposed merger with the Development Bank of the Philippines, as well as its expected contribution to the Maharlika Investment Fund.

Ortiz has yet to face the media since assuming the post but in a statement, she emphasized that she will build on the gains of the Landbank in supporting agriculture and other key industries.

She added that she would expand financial inclusion, deliver assistance to marginalized and vulnerable sectors, and support other players in advancing inclusive development agenda.

“We will work to make our operations more dynamic and responsive to address the changing needs of our highly diverse customers and stakeholders, while remaining viable and competitive,” Ortiz said.

“I am keen to contribute and infuse ideas and innovations that will further fortify the bank in fulfilling its social mandate. I hope to bring in a fresh perspective drawn from my experience working in global organizations,” she said.

Ortiz will bring her over 30 years of experience in local and international banking, covering risk management, treasury, corporate finance and capital markets in foreign and local institutions.

Ortiz served as the first Filipino CEO of Standard Chartered Bank in the Philippines since 2016.

She serves as first vice president in the board of the Bankers Association of the Philippines (BAP) and is also a member of the BAP Executive Committee.

Ortiz was named UN Women 2021 Philippine Women’s Empowerment Principles Awards Champion for Leadership Commitment, recognizing her role in setting strong corporate commitments and inclusive leadership.