Fabian S. Dee was recently elected president of BancNet for the term 2021-2022. Dee, who is concurrently president of one of the country’s top tier banks, Metrobank, succeeds Cezar P. Consing of BPI who has retired after serving three terms
BancNet shareholders also elected 15 members of their board of directors for the term 2021-2022 during their annual stockholders’ meeting held Friday, April 16,2021.
The new directors are: Henry Bremridge, COO of HSBC; Manish Chawla, Director and Operations and Technology Head of Citibank; Renato A. Claravall, president and COO of Veterans Bank; Fabian S. Dee, president of Metrobank; Emmanuel G. Herbosa, president and CEO of DBP; Jaime C. Laya, president of Philtrust; Jose Teodoro K. Limcaoco, president and CEO of BPI; John Howard D. Medina, COO of PBCom; Jose Arnulfo A. Veloso, president and CEO of PNB; and Sanjiv Vohra, president and CEO of Security Bank.
Re-elected were Eugene S. Acevedo, president and CEO of RCBC; Edwin R. Bautista, president and CEO of Union Bank; Cecillia C. Borromeo, president and CEO of Land Bank; Nestor V. Tan, president and CEO of BDO; and William C. Whang, president of China Bank.
During their organizational meeting that followed, the Board re-elected Nestor V. Tan as chairman and elected Dee as president and Jose Arnulfo A. Veloso as Treasurer.
In his address to the stockholders, erstwhile president Consing underscored BancNet’s resiliency and reliability during pandemic year 2020 as the network’s most notable achievement. “We activated our business continuity plans to enable us to work safely and continuously, cope with the expected volume surge and manage our operations at a time when people needed our service the most. We knew that it was a time when we could not afford to be unavailable,” he said.
He reported that BancNet posted strong operating and financial results that enabled the company to reduce its unit cost per transaction while maintaining a high switch availability rate of 99.98%
Consing also highlighted the world-class infrastructure for real-time payments that BancNet built in partnership with Mastercard using the state-of-the art Vocalink technology. “This technology will propel the next stages of digitalization in the country,” Consing said. “New digital services will be rolled out in 2022,” he added.
The Board also appointed key officers of the company: Aristeo P. Zafra, Jr., CEO until June 30, 2021; Elmarie S. Reyes, deputy CEO until June 30, 2021 and CEO effective July 1, 2021; Marie Fe Liza S. Jayme, assistant treasurer; and Agnes H. Maranan, corporate secretary.
The Board also appointed the members of the Operations Committee which is responsible for translating Board-defined policies into detailed operating policies and procedures. They are: Jose Luis A. Alcuaz (HSBC), Antonia N. Bacabac (Veterans Bank), Dennis C. Bancod (RCBC), Roberto P. Blas (Citibank), Allan V. Bornas (Land Bank), George P. Castro (Philtrust), Marie Carolina L. Chua (China Bank), Expedito G. Garcia, Jr. (PBCom), George S. Inocencio (DBP), Marie Fe Liza S. Jayme (PNB), Michael P. Magbanua (Union Bank), Tomas Victor A. Mendoza (BDO), Noel A. Santiago (BPI), Roseann T. Tan (Metrobank), and Daniel U. Yu (Security Bank).
