Veteran banker Cecilia C. Borromeo was recently sworn in as the new president and chief executive officer of the Development Bank of the Philippines (DBP). Borromeo was sworn in by Finance Secretary Carlos Dominguez III in simple ceremonies at the DBP headquarters in Makati City. Borromeo assumes her post in the state-owned bank on January 9, 2017.
Borromeo brings a wealth of experience in banking and management from Land Bank of the Philippines (Land Bank) to her new post in DBP. She started her banking career in Land Bank in 1989 and rose through the ranks to serve as Officer In Charge from August 1, 2016 to November 10, 2016.
She previously served as Executive Vice President of the Agricultural and Development Lending Sector of LBP where she managed the delivery of financial services for farmer organizations, MSMEs, local government units, GOCCs, corporations, other financial institutions, and consumer clients. She also performed oversight functions over LBP Insurance Brokerage, LBP Leasing Corporation, and Masaganang Sakahan, Inc. She also supervised the treasury, investment banking and global banking operations as EVP of LBP Institutional Banking Sector.
Borromeo obtained her Bachelor of Science degree in Agribusiness from the University of the Philippines, and underwent the Master of Business Administration program of the De La Salle Business School. She is a graduate of the Advanced Bank Management Program of the Asian Institute of Management and the Pacific Rim Bankers Program of the University of Washington Executive Education Foster School of Business. She likewise attended the International Study on Rural Banking and Finance at the Massey University in New Zealand.