Philippine Deposit Insurance Corp. (PDIC) chairperson and Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. administered the oath of office of directors John Mark Frondoso and Luis Rey Velasco. Both will serve the PDIC board until Nov. 16, 2028.
The seven-member PDIC board is composed of the BSP Governor as chairperson, the Finance secretary as vice chairperson, the PDIC president and chief executive and four independent directors representing the private sector.
Frondoso and Velasco bring with them a wealth of experience and expertise in the fields of investment banking and digital finance; and agriculture innovation and public-private sector partnership in rural development, respectively.
Their diverse backgrounds are seen to further strengthen the mandate of PDIC to safeguard the interest of the depositing public and promote confidence in the stability of the financial system by way of deposit insurance, risk management and pursuit of financial inclusion for sustainable growth.
