Former Bangko Sentra ng Pilipinas Gov. Amando Tetangco has been elected as chairman of SM Investments Corp., the diversified investment holding company of the Sy family.
The only central banker to serve two consecutive terms as BSP governor, Tetangco was also appointed as member of the audit committee, compensation committee, and related party transaction and risk management committee.
Tetangco, who turns 70 in November, had joined the boards of several companies after leaving the central bank. Among these companies are oil company Pilipinas Shell, Converge ICT, and SM Investment units Belle Corp. and SM Prime.
His appointment as chairman of SM Investments follows the company’s acceptance of the resignation of Jose Sio, chairman and board director.
Sio, the long-time service chief finance officer of the group, took over the chairmanship of SM Investments in 2017 from then 93-year-old Henry Sy Sr., founder of the conglomerate with interest in banking, gaming and leisure, retailing, shopping malls operation, office space leasing, mining and property development.
The position of chairman emeritus was created in 2017 for Sy Sr. Now, Sio has been designated to take the post.
