Buenaventura heads DBP

Gil Buenaventura was sworn in as President and CEO of state-owned Development Bank of the Philippines this week.

DBP is the second-largest government-owned bank and the seventh-largest bank in the Philippines in terms of assets. It is also one of the Philippines’ largest government-owned and controlled corporations.

Buenaventura replaces Francisco del Rosario, Jr. who resigned September 30. Buenaventura will formally assume his post on October 22.

Buenaventura said he brings to DBP the experience and lessons learned from a fruitful career in private banking to advance DBP goals as a development financial institution.

Buenaventura was a former senior executive of the Bank of the Philippines Islands and Citibank. He was the former President of Prudential Bank, which was absorbed by BPI in 2005. Buenaventura was also chairman of the board of directors and nomination committee of BPI Leasing Corp., and also held several positions in other units of BPI.

Buenaventura graduated with a degree in Economics from the University of San Francisco in 1973 and received his MBA in Finance from the University of Wisconsin in 1975.