After Veloso, PNB eyeing Tetangco as board member?
Bilyonaryo Lucio Tan wants the creme de la creme for his bank.
The Philippine National Bank (PNB) recently announced that they got HSBC Philippines president Jose Arnulfo “Wick” Veloso as its next chief come November, as its existing CEO Reynaldo Maclang retires this year.
Now, a new rumor is swirling that no less than ex-central bank Governor Amando Tetangco, Jr. is being wooed to sit as member of the PNB Board of Directors.
The Philippine Daily Inquirer said the big bank is in talks to hire Tetangco as independent director. Workload is light — more on the advisory side — but the pay is surely astonishing.
However, PNB came with a swift denial on Friday, Aug. 31: “We wish to advise the Exchange that to date, the PNB Board of Directors has not approved any such enlisting/election/appointment of former BSP Governor Amando Tetangco, Jr. to the PNB Board of Directors.”
Who knows, maybe it’s still in the works right now. Stay tuned!