Realtor Italpinas Development Corp. (IDC) has tapped Alfonso Salcedo and Melchor Guerrero to fill the vacancy left by independent directors Emeraldo Magnaye and Rafael Dominguez who resigned early this month, the company told regulators on February 11.
Magnaye resigned from IDC citing personal reasons while Dominguez intends to focus on other business ventures, the company said.
“The appointment of Alfonso Salcedo and Melchor Guerrero reflects our ongoing commitment to strengthening our leadership and ensuring we have the best minds guiding our strategic direction. We are confident that their contributions will help us achieve our long-term goals and deliver value to our stakeholders,” said Romolo Nati, IDC chief executive officer (CEO).
“Their impressive track records and deep understanding of their respective fields of expertise make them invaluable additions to our team. We look forward to leveraging their insights and expertise as we continue to drive our company’s growth and success,” Nati added.
Salcedo and Guerrero have years of experience in the financial market.
Salcedo held numerous senior positions in the banking industry, having served as president and CEO of Security Bank Corp. from 2015 to 2019.
He also served as executive vice president of Bank of the Philippine Islands (BPI) from 2010 to 2015, president of BPI Insurance Group from 2000 to 2004, and president of BPI Family Savings Bank Inc. from 2004 to 2010.
Salcedo received his undergraduate degree in 1977 from the University of Ateneo de Manila and completed the Harvard Advanced Management Program in 2006.
Guerrero, meanwhile, brings a deep background in finance and capital markets. He has been involved as the lead underwriter or advisory for listings on the Philippine Stock Exchange (PSE), NASDAQ, NYSE and NSX Australia, IDC said.
Guerrero served as president of Ernst & Young Transaction Advisory Services, president of Municipal Finance Co. as well as vice president and head of Capital Markets Development Division and member of the PSE’s Management Committee.
Guerrero took his MBA from J.L. Kellogg Graduate School of Management and MS Engineering Management from McCormick both at Northwestern University, and his BA in Applied Mathematics from the University of California at Berkeley.
