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PRESIDENT AND CEO LORENZO V. TAN ELECTED AS VICE CHAIRMAN OF ABA
Rizal Commercial Banking Corporation (RCBC) President & CEO Lorenzo V. Tan was elected as Vice Chairman of the Asian Bankers Association (ABA) during its 27th General Meeting held in Taipei, Taiwan.
Tan's election under ABA will cover the next two years during which he has committed to bolster interaction with fellow delegates from other countries and work to gain unique perspectives and foster regional banking cooperation and mutual advantage.
ABA is an organization of over 100 leading commercial banking institutions from some 27 countries in the Asia-Pacific region. Established in 1981, it aims to provide a venue for the exchange of views and information on banking opportunities in the region, enhance the role of its members in servicing the financial needs of their respective economies, and undertake projects that encourage trade, industrial and investment cooperation.
Tan is considered the "miracle man" among CEOs for having helped with the dramatic turnaround of the companies that he led in the past, first as President of Philippine National Bank (PNB), and then Sun Life Philippines.
Mr.Tan has been the Chief Executive Officer and President of Rizal Commercial Banking Corp. since April, 2007.
During his first year with RCBC he steered the bank to a 56% growth in its net income at P3.21 billion, the steepest profit growth among the country’s top 10 banks. In 2009 RCBC recorded a 54% increase in its net income at P3.33 billion, which is expected to be surpassed in 2010. Net Income for the 1st 9 months of 2010 now stands at P3.66 billion.
Tan was one of the Ten Outstanding Young Men (TOYM) Awardees in 1999, and was a recipient of the CEO Excel Award for Insurance given by the International Association of Business Communicators (IABC) when he headed Sun Life in 2006.
A Certified Public Accountant in Pennsylvania, USA and in the Philippines, Tan graduated from De La Salle University with a Bachelor of Science degree in Commerce and holds a Master of Management degree from the J.L. Kellogg Graduate School of Management, Northwestern University in Evanston, Illinois, USA.