PNB appoints Casuela as president, Cua as chair

Florido Casuela and Edgar Cua

MANILA  -Billionaire Lucio Tan’s Philippine National Bank (PNB) has formally named company directors Florido Casuela as president and Edgar Cua as chair.

Casuela was appointed acting president last July 5 after former president and CEO Jose Arnulfo Veloso joined the Marcos administration as general manager of the Government Service Insurance System.

Casuela is currently chair of PNB Securities Inc. He is also a director of Allianz PNB Life Insurance Inc., PNB International Investments Corp., PNB RCI Holdings Co. Ltd. and Bancnet Inc.

He also served as chair of Casuela Equity Ventures Inc.; director of Surigao Micro Credit Corp., and senior adviser of Bank of Makati Inc.

He was also previously a director of Manila Electric Co.; special assistant to the chair of National Power Corp.; director of Sagittarius Mines; senior executive vice president of United Overseas Bank; senior vice president of PNB; first vice president of Bank of Commerce; vice president of Metropolitan Bank & Trust Co.

Prior to PNB, he served as president of Land Bank of the Philippines and Maybank Philippines Inc.

As an independent director, Cua has served PNB for almost seven years beginning his first appointment on May 31, 2016.

He has held various positions at the Asian Development Bank (ADB) during a 30-year professional career. He retired from the multilateral bank in 2015 as senior advisor of the East Asia Department, based in ADB’s Resident Mission in Beijing, China.

He also served as deputy director general of the East Asia Department and as country director of the ADB Resident Mission in Indonesia.