With just one seat left on the board, industry insiders said veteran investment banker Stephen CuUnjieng is seriously being considered to fill this role.
Maharlika CEO Rafael "Joel" Consing welcomed the idea when asked by InsiderPH.
“If the rumor is true, he will be an incredibly excellent addition,” he said.
A fixture on the ABS-CBN News Channel (ANC), CuUnjieng is known for his witty insights on business and politics through the playful Stevienomics segment with ANC’s energetic host Michelle “Mimi” Ong.
He was eventually invited to host his own show, Banker After Dark, on ANC.
Meanwhile, the selection process is still ongoing, with no final decision yet on who will take the job, an insider said.
CuUnjieng, an award-winning banker, was senior managing director and chair of investment bank Evercore for over a decade.
His board experience includes conglomerates such as Aboitiz Equity Ventures and First Philippine Holdings. He was also a board adviser to the Sy family’s SM Investments Corp.
He earned a law degree (with honors) from Ateneo de Manila University and a Master’s in Business Administration from Wharton School of Business.
The powerhouse team at Maharlika is led by Consing (vice chair and CEO), Finance Secretary Ralph Recto (chair), Land Bank of the Philippines CEO Lynette Ortiz, and Development Bank of the Philippines CEO Michael de Jesus.
The remaining open spot on the board is for a regular director, following the appointment of Vicky Tan, a veteran of the Asian Development Bank, as the other regular director.
The board’s independent directors are Andrew Jerome Gan, a finance industry veteran and director at the Philippine Stock Exchange; German Q. Lichauco II, senior partner at Siguion Reyna, Montecillo & Ongsiako Law Offices; and Roman S. Reyes, the founding partner and chair of Reyes Tacandong & Co.
For keen observers, the news comes as a slight surprise, given CuUnjieng’s often frank comments, even about the current administration.
But that’s also the best way to make things better, as many in Maharlika have chosen to do. Insiders get it done, because change starts from within.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
