MANILA, Philippines — The influential Bankers Association of the Philippines has elected banker Lorenzo Tan of Rizal Commercial Banking Corp. as its new president, succeeding Alberto Villarosa of Security Bank.

“I’m coming in as BAP president at a very good time. The economy is on an upswing and the banking industry can play a big role in sustaining the country’s progress,” said the 51-year-old Tan, who is also president of RCBC.

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“As an advocate of innovation and change, I will push for a banking industry that is able to maximize available technologies in introducing products and services that cater to the ever changing needs of our customers,” he added.

Prior to being elected to post, Tan was also elected chairman of the Asian Bankers Association (ABA), an alliance of Asia Pacific’s most influential banks with the aim of providing a forum for advancing the cause of the banking and finance industry in the region and promoting regional economic cooperation, in November of last year.

“As I concurrently lead the ABA as its chairman, I intend to be sensitive to developments and trends across the region and see which learnings from other member countries can be adopted locally and bring in significant benefits,” he said.

Joining Tan in this year’s roster of BAP officers are: Antonio Moncupa, Jr. (first vice president), Enrico Cruz (second vice president), Gil Buenaventura (secretary) and Roberto Panlilio (treasurer).

Prior to joining RCBC in 2007, Tan was president and CEO of Sun Life of Canada (Philippines). He was also president of Philippine National Bank and led the bank’s financial turnaround in two years, ahead of its five-year schedule.

Tan was also president of the United Cocount Planters Bank.

A graduate of the JL Kellogg Graduate School of Management, Northwestern University in Evanston, Illinois, Tan finished his Commerce undergrad degree from the De La Salle University in 1982.

He had also worked in offshore markets, previously holding executive posts at Citibank (NA) in New York, Los Angeles and Singapore.

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