BIZ BUZZ: Low-key search for new PNB CEO on

There are still a few months left before the next stockholders’ meeting of Philippine National Bank (PNB), but if Biz Buzz sources are to be believed, the search for a new president to replace Florido Casuela has quietly begun.

Casuela officially assumed the position in the Lucio Tan-led bank in April 2023, replacing PNB president and CEO Jose Arnulfo “Wick” Veloso, who left after being appointed president and general manager of the Government Service Insurance System by President Marcos.

Casuela is a widely respected executive who joined PNB in 2006 as director. He is currently the 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.

Even in 2023, it was already widely known that Casuela would not be staying long, mainly because of his age. He was already 80 when he took on the post.

Based on past experience, the search for a new bank chief will not be easy.

To recall, Casuela was named acting president on July 5, 2022, after Veloso’s departure. It took a year of searching for another candidate—to no avail—before Casuela was finally given the permanent position.

Perhaps PNB will have better luck coming up with a new name this time around. Or it could always extend Casuela, if he is willing to stay on, that is. —Tina Arceo-Dumlao

From Rome with love for agri

It appears that the Philippine delegation in Rome made great strides in forging agricultural collaborations with some countries.

Agriculture Secretary Francisco Tiu Laurel Jr. recently led a local delegation to the World Food Forum held in the capital city of Italy, hoping to advance the Philippine agriculture sector through bilateral partnerships.

This trip came at a time when the farm sector is grappling with the devastation caused by Severe Tropical Storm Kristine (international name: Trami).

The first collaboration is with Italy wherein Tiu Laurel and Italian Minister of Agriculture Francesco Lollobrigida agreed to strengthen their agricultural cooperation.

The renewed partnership zeroes in on expanding the country’s agricultural exports to Italy, tapping Filipino fisherfolk to work in the European country and investing in modernizing the Philippine agriculture sector.

Both countries likewise agreed to draft a memorandum of agreement to bolster productivity and agro-industrialization in the archipelago.

Another cooperation is between Tiu Laurel and Linkham Douangsavanh, Minister for Agriculture and Forestry of the Lao People’s Democratic Republic, as they would create a framework aimed at resolving various agricultural issues. It was targeted to be signed by next year.

The Philippines and Laos would work on several initiatives including developing a joint genetic bank for rice development, improving value chains for various agricultural products, adopting best practices for efficient water use and boosting bilateral trade.  —Jordeene B. Lagare