Stock exchange elects new CEO
Iris Gonzales (The Philippine Star) - May 7, 2017 - 12:00am

MANILA, Philippines -  The Philippine Stock Exchange Inc. has elected independent director Ramon Monzon, a known protege of SGV founder Washington Sycip, as its new president.

Monzon was elected during the PSE’s annual stockholders’ meeting yesterday and takes over the position of former investment banker Hans Sicat, who ended his six-year tenure to give way to his new task as chief integration officer who will consolidate the PSE and the Philippine Dealing and Exchange Corp. (PDEX).

PSE chairman Jose Pardo said Monzon is an auditor who “can sleep with numbers” and is “a protege of the venerable Washington Sycip.”

Monzon has been an independent director at PSE since May 2015 and is also head of the PSE audit committee.

Pardo said when the PSE brought Monzon on board as independent director, they already envisioned him to become the next president who would bring the PSE to its next stage which is the consolidation of the PSE with other capital market infrastructure under the PDS Group.

During Sicat’s term, the PSE extended trading hours into the afternoon, introduced corporate governance improvements, new products, improved technology platforms and provided additional services such as Market Data packages, among others.

Last year, the PSE targeted to transform the exchange into a world-class bourse with more investment products.

Monzon said this thrust would continue along with the plan to consolidate the PSE with PDS Holdings Inc., which owns PDEX.

Returning directors Emmanuel Bautista, Anabelle Chua, Francis Chua, Dakila Fonacier, Eddie Gobing, Amor Iliscupidez, Edgardo Lacson, Ma. Vivian Yuchengco, Alejandro Yu, Wilson Sy and Eusebio Tanco were also reelected yesterday.

Former Civil Service Commission chief and Health Secretary Francisco Duque and banker Vicente Panlilio.

According to the PSE’s Nomination and Elections Committee, the board must be composed of one president director; up to seven seats for broker directors and at least seven seats for non-broker directors.

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