BIZ BUZZ: New blood at PAL
Just three months after he was appointed president of PAL Holdings Inc., Lucio C. Tan III is wasting no time building a team of highly credentialed leaders for national flag carrier Philippine Airlines (PAL).
On Aug. 29, as gleaned from disclosures filed with the Philippine Stock Exchange, PAL Holdings announced the appointment of a new chief commercial officer for the airline, naming an experienced ex-Delta Air Lines executive, Eric David Anderson, to the post. Anderson will oversee sales, marketing, revenue management and cargo services.
PAL likewise announced the restoration of the position of executive vice president, an expansive role reporting to the PAL president and overseeing all areas of PAL’s financial, technical, commercial and administrative operations. PAL has kicked off the search for a suitable EVP candidate.
Earlier, PAL Holdings also announced the appointment of a new PAL chief financial officer in the person of Anna Isabel Bengzon, who similarly brought a wealth of experience to the flag carrier’s ranks.
Bengzon served as finance head for several Philippine corporations including ABC Development (TV5) and Global Business Power, and was investor relations chief for PLDT.
While 2023 has so far been a tough year for airlines worldwide, the grandson of tycoon Lucio Tan, together with Capt. Stanley Ng, PAL president and COO, have made bold moves to reclaim PAL’s leadership position, including the multi-billion-dollar investment in a new fleet of Airbus A350-1000 long-haul aircraft and a slew of customer service and product enhancements.
And they’re not done yet.
Tan said travelers can expect PAL to soon roll out more “major product and digital transformation initiatives.”
— Tina Arceo-Dumlao
Digital banks create own group
Digital banks licensed by the Bangko Sentral ng Pilipinas (BSP) have created their own trade association, organizing themselves better in the country as the digital banking sector gains more traction.
GoTyme Bank co-CEO Albert Tinio told Biz Buzz last week that, including them, five of the six digital banks in the country licensed by the BSP had already joined the group.
“As digital banks, we have come together to have ‘coop-petition,’ to cooperate and compete at the same time. I think that’s good for the industry,” Tinio said in an interview, noting that they are still waiting for the state-owned Overseas Filipino Bank to join.
Tinio said there was a need to organize themselves since they were unable to become part of the Bankers Association of the Philippines as it only accepts universal and commercial banks in the country as members.
The GoTyme official said that their business group will be headed by Maya Bank, the digital banking arm of tycoon Manuel Pangilinan’s group.
He added that there will be a formal announcement “very soon” where they will reveal the name of their new banking association.