Buenaventura appointed new DBP president

Posted at 10/02/2012 4:30 PM | Updated as of 10/02/2012 7:34 PM

MANILA, Philippines - President Aquino has appointed veteran banker Gil A. Buenaventura as president and chief executive officer of the Development Bank of the Philippines (DBP), for a term ending on June 30, 2013.  

Buenaventura replaced Francisco F. del Rosario Jr., who resigned effective September 30. He was sworn in by Energy Secretary Jose Rene Almendras on Tuesday at the DBP headquarters in Makati. 

Buenaventura will assume his post at DBP on October 22. 

He was head of the Corporate Banking Group for Bank of The Philippine Islands since 1996, and served as senior executive vice president and chief operating officer before joining DBP. 

The banker was also president of Prudential Bank, which was absorbed by BPI in 2005. - With report from Willard Cheng, ABS-CBN News