The Philippine Deposit Insurance Corporation (PDIC) announced the appointment of banker Ms. Anita Linda R. Aquino as a member of the PDIC Board of Directors. In simple ceremonies at the PDIC headquarters, Ms. Aquino took her oath of office before Finance Secretary and PDIC Chairman Carlos G. Dominguez III on February 7, 2017.
Prior to joining PDIC, Ms. Aquino held posts in various banks in Manila, New York and Singapore in the area of Treasury/Financial Markets. She was Head of Financial Markets Sales at Citibank, a Senior Vice President and Head of Global Distribution and Advisory Division at Rizal Commercial Banking Corporation (RCBC) and an Executive Director, Head of Financial Markets Sales (Philippines) at Standard Chartered Bank. She likewise worked as Regional Trading Business Manager for Asia at the Singapore-based Citicorp Investment Bank Limited.
A Bachelor of Arts in Economics graduate from the Ateneo de Manila University, Ms. Aquino earned her Masters of Arts in Economics degree from Fordham University in New York, USA. She also took a special program in Accounting and Finance at Marymount Manhattan College, New York.
Ms. Aquino joins Mr. Rogelio M. Guadalquiver and Atty. Eduardo M. Pangan as private sector representatives to the PDIC Board.
Under Republic Act No. 10846, the amended PDIC Charter that took effect on June 11, 2016, PDIC’s Board composition increased from five to seven, with the addition of two more directors from the private sector. PDIC is headed by the Secretary of the Department of Finance (DOF) as ex-officio Chairman. The PDIC President serves as Board Vice Chairman and the Bangko Sentral ng Pilipinas (BSP) Governor is ex-officio Board member.
The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account. (PR)