Taipan Lucio Tan named PNB chairman emeritus

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Metro Manila (CNN Philippines, September 25) — Listed Philippine National Bank (PNB) appointed tycoon Lucio Tan as its chairman emeritus after he served more than two decades as a director of the bank.

In a statement over the weekend, the bank said Tan led the group in the completion of the PNB-Allied Bank merger in 2013, which had become crucial to grow its operations.

PNB said the lender expanded its global reach under the leadership of Tan.

“As I assume the role of Chairman Emeritus, I would personally assure our customers, shareholders, investors, and employees that the Tan family will continue to be a major shareholder of PNB. We remain strongly committed to support the Bank and its future,” he said.

The company also announced that Tan’s wife Carmen will join the Advisory Board of the bank. Atty. Eusebio V. Tan and Mr. Chester Y. Luy, both with extensive experience in the banking sector, will serve as new members of the board of directors.

“These appointments are a significant step in aligning PNB's leadership to better serve our customers and stakeholders,” it said.