PDIC appoints 2 new independent directors
The Philippine Deposit Insurance Corp. (PDIC), the state-run agency that protects bank deposits, on Friday announced the appointment of two new independent directors who will represent the private sector in its board.
In a statement, the PDIC named Justice Lady Soriano and Imelda Tiongson as new directors, completing the four-member private sector representation on the board together with John Mark Frondoso and Luis Rey Velasco.
The insurer said Soriano brings expertise in investment banking and financial management, while Tiongson specializes in governance, risk management and financial technology.
Soriano, currently chief finance officer of Synergy Grid and Development Philippines Inc., oversees financial planning, management and regulatory compliance.
She previously served as a consultant for Calaca High Power Corp., assistant vice president at the Development Bank of the Philippines and manager of the PDIC Financial Assistance Management Center from 1996 to 2006.
She holds an economics degree from the Ateneo de Manila University and a master’s in finance from the De La Salle University.
Meanwhile, Tiongson has more than 30 years of experience in banking, audit, risk management, corporate governance and information technology.
She is vice chair and trustee of the Institute of Corporate Directors, trustee of the Fintech Alliance PH and Womenbiz PH and chair of the Governance Committee of the Management Association of the Philippines.
Currently, Tiongson serves as president and consultant of OPAL SPV, turning around distressed companies and assets and lectures at multiple institutions, including the Institute of Corporate Directors.
Tiongson previously held senior executive roles at the Philippine National Bank and the National Australia Bank, and contributed to drafting key business and financial legislation, including the Financial Rehabilitation and Insolvency Act and the Revised Corporation Code.
