Bermudez named president of Veterans Bank

Philippine Veterans Bank President & CEO Joey Bermudez PHOTO FROM JOEY BERMUDEZ

MANILA—Philippine Veterans Bank named as its new president veteran banker Joey Bermudez, who aims to transform this commercial bank owned by Filipino World War II veterans and their families into a “game-changer.”

The PVB board led by chair Roberto de Ocampo announced in a press statement on Wednesday the entry of Bermudez as “part of the plans to revitalize the medium-sized commercial financial institution, and turn it into a major player in the banking industry led by a high-caliber and world-class management team.”

In a text message, Bermudez he assumed the post of PVB president on  Tuesday, September 10.

Bermudez has three decades of experience in banking. He was previously president of Chinatrust (Philippines) Inc., the local subsidiary of Taiwan’s biggest privately owned commercial bank. He also held key positions at Maybridge Financial Group, Philippine Savings Bank, Solid Bank, Standard Chartered Bank and Philippine Commercial International Bank.

In 2009, he was president of the Management Association of the Philippines, the leading management organization in the Philippines made up of 800 chief executive officers, chief operating officers, business owners and senior management educators.

“He (Bermudez) will have a crucial role in turning the bank into a major player in the industry. Innovations in consumer finance and commercial lending, as acknowledged by his peers, are some of the values that Joey brings to the organization. He is credited with having built from zero an industry-leading consumer finance business, and for having transformed another institution from a purely corporate and commercial lender into a major player in mortgage loans, auto loans, and small/medium-enterprise lending,” De Ocampo said in a statement.

Commenting on his appointment, Bermudez said, “I am honored and privileged to accept the appointment to say the least. Along with this, I recognize that the toughest challenge now for me as leader of this institution is to establish a solid reputation for growth, and build the bank into a truly lasting legacy to the nation and succeeding generations.”

He added: “I will definitely capitalize on my experience to make PVB a game-changer.”

Bermudez holds a master’s degree in business economics and a bachelor’s degree in commerce, major in accountancy. He attended the Pacific Rim Bankers Program of the University of Washington.

PVB, a private medium-sized commercial bank owned by 385,000 Filipino World War II veterans and their families, caters to both corporate and retail financial markets and is also an authorized government depository.