The 59-year old, Wharton-educated businessman is taking the seat left by Bienvenido Tan Jr. who passed away in March 2020 at the age of 96.
Velasco is the vice chairman, president and CEO of the holding firm. He is the son of the late Ronnie Velasco, the country’s first energy minister.
Republic Glass invests in government bonds, high grade corporate bonds, money market placements, time deposits and other financial instruments. It has a minority stake in Science Park of the Philippines, Inc. (SPPI) which owns Light Industry & Science Parks in Laguna, Batangas and Cebu.