Monzon gets fresh PSE mandate as exchange prepares for blockbuster IPOs

Insider Spotlight

• Monzon begins his 10th year leading the Philippine Stock Exchange after securing a fresh mandate.
• Three new directors joined the 15-member board, adding expertise in governance, artificial intelligence and capital markets.
• The PSE likely to exceed its 2026 fundraising target, supported by the planned VITRO REIT and Mynt listings.

The Philippine Stock Exchange (PSE) handed Ramon S. Monzon a fresh mandate as president and CEO after shareholders elected a refreshed 2026–2027 board that will steer the bourse through one of its busiest fundraising periods in years.

The new board was elected during the PSE’s stockholders’ meeting on July 4, with Monzon entering his 10th year at the helm of the exchange while Jose T. Pardo continues as chair.

New faces join board

The PSE also welcomed independent directors Jikyeong Kang, president and dean of the Asian Institute of Management, and Niek Johan van Veen, a Dutch technology executive specializing in artificial intelligence and digital transformation, as well as regular director Lorenzo Andres “Randy” Roxas, president of Philippine Equity Partners Inc.

“We think her international expertise will bring some good parts of governance to the exchange,” Monzon said of Kang during a media briefing after the meeting.

Monzon said van Veen’s expertise in information technology and artificial intelligence would help steer the exchange’s digital transformation as the PSE expands its use of AI.

“We really sought out a director who could guide PSE in its IT and AI journey, and I think Niek Van Veen will fill those shoes,” he added.

Monzon said Roxas also replaces longtime director Wilson Sy.

Completing the 15-member board are independent directors Jaime J. Bautista, Peter B. Favila and Teresita J. Leonardo-de Castro; non-broker directors Cecile C. Ang, Jose Arnulfo A. Veloso and Marilyn A. Victorio-Aquino; and directors Ma. Vivian Yuchengco, Eddie T. Gobing, Anthony M. Te and Diosdado M. Arroyo.

Busy fundraising pipeline

The board takes office as the exchange oversees one of its strongest fundraising pipelines in years, anchored by the planned listings of VITRO REIT (P24 billion), which is backed by PLDT Inc., and Mynt (P92 billion), the operator of GCash.

The PSE earlier set a capital raising goal of about P170 billion this year. 

This is likely to be exceed with new initial public offerings and preferred share deals in the pipeline.

Monzon stood by target

Last March, Monzon resisted calls to temper expectations, maintaining the PSE’s 2026 capital-raising goal despite market turmoil fueled by the US-Iran conflict.

The target is significantly larger than the roughly P144 billion raised in 2025.