SEC Commissioner Viterbo quits

Blas James Viterbo, a Securities Exchange Commissioner who was formerly Mar Roxas’ chief-of-staff when he was Senator, is quitting his post for “health reasons.”

Viterbo tendered his resignation to Pres. Rodrigo Duterte through Finance Secretary Carlos Dominguez on Feb. 1, SEC Secretary Armand Pan said on Friday.

“He will prioritize his medical check-up,” Pan said. “He has irregular heartbeat.”

Asked when this move will take effect, Pan said it would be effective upon acceptance of the resignation by the president.

The resignation came a few weeks after a controversial SEC order revoking the incorporation of online news provider Rappler Inc. and its controlling stockholder Rappler Holdings Corp. Viterbo abstained when the SEC en banc approved the order.

But Pan clarified that the resignation had nothing to do with the order.

Apart from Viterbo, the four other members of the SEC’s highest policy-making body are: Teresita Herbosa (chair), Antonieta Ibe, Ephyro Luis Amatong and Emilio Aquino.

Viterbo, Herbosa, Ibe and Amatong were all appointed to the Commission during the term of former Pres. Benigno Aquino.

A corporate and tax lawyer by profession with a background in management and finance coupled with practical experience in public policy and entrepreneurship, Viterbo took his oath as SEC Commissioner on May 23, 2014, taking on a seven-year term until March 11, 2021.

Prior to joining the SEC, Viterbo was director and treasurer of a private corporation with business interests in mass media, power generation, commercial and tourism realty development, among others. He likewise served as a member of the board of directors at the Development Bank of the Philippines (DBP). He sat in the DBP’s trust, audit, and human resource committees, and represented the bank as a member of the governing board of the Maritime Industry Authority (MARINA).

He began his career as a supervising senior staff at KPMG Philippines, then affiliated with Laya Mananghaya & Co., where he handled corporate and tax matters. After two years, he left private work and opted for government service as an entry-level legislative-technical staff lawyer in the office of then Sen. Mar Roxas. He rose through the ranks, becoming chief of the legislative-technical unit, and ultimately, chief of staff/legal counsel. He was also appointed as legal counsel of the Senate Committee on Trade and Commerce.

Viterbo obtained his Bachelor of Laws and Bachelor of Science in Business Administration and Accountancy degrees from the University of the Philippines – Diliman. He is a recipient of the 2016 UP Virata School of Business (formerly the UP College of Business Administration) Distinguished Alumni Award. In 2014, he was recognized by the UP College of Law for his work and dedication to public service.