The board of BDO Leasing and Finance announced the retirement of its vice chairman and president, Roberto Lapid, effective 30 April 2021.
Lapid will be replaced by Manuel Zamora Locsin Jr. who has been appointed SVP and OIC of the SM subsidiary.
Lapid was appointed president of BDOLF in 2008. He used to be the president of Equitable Exchange Inc. and vice chairman of EBC Investments.
A year before Lapid’s retirement, he initiated the restructuring of the SM group’s leasing business.
His effort was capped by the sale of the Sy-bling’s 88 percent stake in BDOLF to the group led by Vittorio Lim and Luis Yu Jr. who planned to use the publicly-listed firm’s stock for backdoor listing.