Fernando Zobel returns as BPI director, replaces Romeo Bernardo who joins BSP

After a 16-month absence due to medical reasons, Fernando Zobel de Ayala is back on board as director of the Bank of the Philippine Islands.

BPI, the third largest lender in the country by assets, said Zobel was elected to the board to replace Romeo Bernardo, who resigned September 12 following his appointment as member of the Bangko Sentral ng Pilipinas’ policy-making Monetary Board.

Zobel, who was vice chairman of BPI until he stepped down in September last year, was also appointed as a member of the Executive Committee and Personnel and Compensation Committee, jobs left vacant by  Bernardo’s departure. With his election to BPI’s board of directors, which is subject to confirmation of the BSP Monetary Board, Zobel will no longer be a member of the bank’s Advisory Council. 

Zobel was first elected to BPI’s board in October 1994 and vice chairman from April 2013.

“I am glad to welcome Fernando back to the board of BPI. Fernando has played a crucial role in the Bank’s history and transformation throughout his almost three-decade tenure as non-executive director of BPI’s Board,” said Jaime Augusto Zobel de Ayala, chairman of BPI and Zobel’s brother.