Gil Buenaventura, veteran banker, dies at 72

Buenaventura headed the Yuchengco-led RCBC and, before that, state-run DBP. (Contributed photo)

MANILA, Philippines — Veteran banker Gil Buenaventura, the former president of Rizal Commercial Banking Corp. (RCBC) and state-owned Development Bank of the Philippines (DBP), has died.

RCBC announced Buenaventura’s death in a stock exchange filing, recognizing that he “was a valuable part of the organization.”

The 72-year-old Buenaventura had been a director of the Yuchengco-led bank since 2016. At the same time, he was also appointed the bank’s president, a position he held until June 2019.

Crisis management

Buenaventura succeeded Lorenzo Tan and was tasked with managing the aftermath of the $81-billion Bangladesh central bank cyber heist.

When his tenure ended three years later, RCBC lauded Buenaventura for being able to “maintain the bank’s profitability despite the challenges in the market and regulatory environment.”

Apart from RCBC, Buenaventura also held directorship and trusteeship positions at House of Investments Inc., Manila Memorial Park Cemetery Inc., De La Salle Philippines School System and Malayan Insurance Co. Inc.

Before his entry into RCBC, Buenaventura headed the DBP.