December 9, 2016

The Philippine Deposit Insurance Corporation (PDIC) announced the appointment of Mr. Rogelio M. Guadalquiver as a member of the PDIC Board of Directors.

The Chairman and Chief Executive Officer of accounting firm Constantino Guadalquiver & Co. (CG&Co.), Guadalquiver brings with him more than three decades of experience in the accounting practice. He was also a former senior partner at SyCip Gorres Velayo & Co. (SGV & Co.) where he was involved in domestic and worldwide audit practices specializing in initial public offerings, industry research studies, corporate restructuring, business process re-engineering, business risk management, and financial and tax management consulting.

Guadalquiver likewise held key positions in various socio-civic organizations, including the Philippine Institute of Certified Public Accountants (PICPA) Southern Mindanao Chapter and Cagayan de Oro Chapter, Rotary Clubs of Makati-EDSA, Davao and West Cagayan de Oro, as well as the Philippine Jaycee Senate and Davao Jaycee Senate.

A Bachelor of Science in Commerce degree holder from the University of San Jose-Recoletos (USJ-R), Guadalquiver attended the Top Management Program of the Asian institute of Management (AIM) where he also earned his Master's degree in Business Management.

Under Republic Act No. 10846 that took effect on June 11, 2016, which also amended the PDIC Charter, 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 officer.

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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 permanent and continuing 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.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.