PHILIPPINE National Bank (PSE: PNB) has announced that its Board of Directors has approved the appointment of Edgar A. Cua as chairman and Florido P. Casuela as president effective April 25, 2023. The election was held during an organizational meeting following the bank’s annual stockholders’ meeting held on April 25.
An Independent Director, Cua has served as PNB director for seven years and was first appointed on May 31, 2016. He has held various positions at the Asian Development Bank (ADB) during a 30-year professional career. He retired from the ADB in 2015 as senior advisor of the East Asia Department, based in ADB’s Resident Mission in Beijing, People’s Republic of China (PROC). He served as deputy director general of the East Asia Department and as country director of the ADB Resident Mission in Indonesia. He was a member of the country team that set up the ADB Resident Mission in the PROC, where he was the first deputy country director.
Cua completed his Bachelor of Arts in Economics (honors program) at the Ateneo de Manila University. He obtained his Master of Arts in Economics and his Master of Planning in Urban and Regional Environment from the University of Southern California. He took “Advanced Chinese Language and History” at the Beijing Language Culture University as well as the “Sustainable Development Training” program at Cambridge University.
Ex-LBP president
CASUELA, on the other hand, joined PNB in 2006 as director. He was appointed as the bank’s acting president on July 5, 2022, after former President and CEO Jose Arnulfo A. Veloso was appointed as president and general manager of the Government Service Insurance System. Casuela is currently the chairman of PNB Securities Inc. He is also a director of Allianz PNB Life Insurance Inc., PNB International Investments Corp,. PNB RCI Holdings Co. Ltd. and Bancnet Inc.
Formerly, he served as chairman of Casuela Equity Ventures Inc., director of Surigao Micro Credit Corp. and Senior Adviser of the Bank of Makati Inc. Likewise, he was a director of Manila Electric Co., special assistant to the chairman of the National Power Corp., director of Sagittarius Mines Inc., senior executive vice president of United Overseas Bank (formerly Westmont Bank), senior vice president of PNB, first vice president of the Bank of Commerce and vice president of the Metropolitan Bank & Trust Co. Prior to PNB, he served as president of the Land Bank of the Philippines and Maybank Philippines Inc.
Casuela is a Certified Public Accountant. He obtained both his Bachelor of Science degree in Business Administration, major in Accounting, and his Master’s degree in Business Administration from the University of the Philippines. He is one of the 10 awardees of the 2001 Distinguished Alumni Award of the UP College of Business Administration.
Casuela has attended an advanced management program for overseas bankers from the Philadelphia National Bank in conjunction with the Wharton School of the University of Pennsylvania and attended a study tour on micro-finance program and co-operatives under the auspices of the United States Agency for International Development.
