BIZ BUZZ: Xavier ‘XP’ Loinaz: Mentor of CEOs

As Xavier P. Loinaz or “XP” joined his Creator, tributes continued to pour in for the banking luminary who had served as CEO of Bank of the Philippine Islands (BPI) for 22 years and another 16 years as board member.

During this long tenure as CEO, after all, he had mentored many other bankers who also became CEOs. The roster of mentees include Cezar Consing (BPI and Ayala Corp.), Aurelio Montinola III (BPI), Jose “TG” Teodoro Limcaoco (BPI), Vicente Castillo (Banco Santander Philippines and Philippine Dealing System Holdings Corp), Emmanuel Herbosa (DBP), Manuel Salak (ING Philippines), Alberto dela Rosa (Security Bank), Alberto Pascual (Philippine Guarantee Corp.), Alfonso Salcedo (BPI Family Bank and Security Bank) and Joey Bermudez (Chinatrust Philippines).

“In 1989, Mr. Loinaz convinced me that BPI was the place to build a career in banking. In the two times I left BPI for what I thought were better career opportunities, Mr. Loinaz gave me the reasons why I was wrong,” Limcaoco said.

“In both, he was right. But he took me back. For that, and for his lessons on integrity and standing up for what is right, I will always be grateful,” he said.

Bermudez, on the other hand, recalled that when he was about to leave BPI in 1984, Loinaz told him, “there is only one BPI.”

“To me, the regrettable truth is that there was only one XPL, he of the giant intellect, sharp strategic mind, exceptional work ethic, and a compassionate heart that many people took a while to discover. Heaven has taken another rock star. The world has to try harder now,” Bermudez said.

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Former Finance Secretary and former SGV chair Cesar Purisima referred to Loinaz as a “titan of Philippine banking.”

“As someone who now serves on the BPI board after him, and chairs the audit committee he once led for over a decade, I still hear his big footsteps through the stories of those who worked with him. The size of the shoes he left behind is a reminder of a legend whose integrity, discipline, and quiet strength will never be forgotten,” Purisima said.