Veteran banker Cecilia Borromeo was recently sworn in as the new president and chief executive of Development Bank of the Philippines.
Borromeo was sworn in by Finance Secretary Carlos Dominguez III in simple ceremonies at the DBP headquarters in Makati City.
Borromeo assumes her post in the state-owned bank on Jan. 9, 2017.
Borromeo brings a wealth of experience in banking and management from Land Bank of the Philippines to her new post in DBP. She started her banking career in Land Bank in 1989 and rose through the ranks to serve as officer-in-charge from Aug. 1, 2016 to Nov. 10, 2016.
She previously served as executive vice president of the Agricultural and Development Lending Sector of LBP where she managed the delivery of financial services for farmer organizations, MSMEs, local government units, GOCCs, corporations, other financial institutions and consumer clients.
She also performed oversight functions over LBP Insurance Brokerage, LBP Leasing Corp. and Masaganang Sakahan Inc. She also supervised the treasury, investment banking and global banking operations as executive vice president of LBP Institutional Banking Sector.
Borromeo obtained her Bachelor of Science degree in Agribusiness from the University of the Philippines and took the Master of Business Administration program of the De La Salle Business School.
She is a graduate of the Advanced Bank Management Program of the Asian Institute of Management and the Pacific Rim Bankers Program of the University of Washington Executive Education Foster School of Business. She also attended the International Study on Rural Banking and Finance at the Massey University in New Zealand.