Chairman Emeritus

Dr. de Ocampo, former Secretary of Finance of the Philippines, became the first Filipino to receive the most internationally prestigious award to Finance Ministers, the “Global Finance Minister of the Year” award from Euromoney in 1995. In 1996, Euromoney named him as Asian Finance Minister of the Year. In 1997, he was again recognized as Asian Finance Minister of the year, this time by Asiamoney. He is known nationally and internationally for public and international finance, having been Chairman of the APEC and ASEAN Finance Ministers (at the onset of the Asian Financial Crisis whose meetings he chaired that resulted in the landmark Manila Framework that prescribed the steps to exit the crisis) as well as member of the Boards of Governors of World Bank, IMF, and the ADB.  He was Secretary of Finance (1994-1998) during the presidency of Fidel V. Ramos, and was widely recognized as the principal architect of the resurgence of the Philippine economy whose achievement was hailed by the international finance community. Prior to these posts, he also served as Chairman and CEO of the Development Bank of the Philippines and led its rehabilitation such that it was recognized by the prestigious international Banker Magazine during his tenure as one of the “world’s soundest banks.”

He is the past president of the Asian Institute of Management having retired from that position in May 2006 and until recently was a member of the AIM Board of Trustees. At present he is the Chairman of the Philippine Veterans Bank and also Chairman of the Board of Advisers of the RFO Center for Public Finance & Regional Economic Cooperation, which is an ADB Regional Knowledge Hub.

Dr. de Ocampo is a recipient of many international and national honors. In September 2001, he was named to the Ordre National de la Legion d’ Honneur by the Republic of France with the rank of Chevalier for his successful efforts and initiatives to promote closer Philippine-France relations. On the occasion of the Queen’s Diamond Jubilee, he was conferred by Her Majesty Queen Elizabeth II the Most Excellent Order of the British Empire (OBE) for his outstanding efforts in promoting Philippine-UK relations during his years in public service and more recently in his capacity as Chairman of the British Alumni Association. He has also been awarded the Philippine Legion of Honor, the highest honor conferred on Filipino civilians by the Republic of the Philippines in 1998 for his outstanding contributions to the country. He is one of the first ASEAN members of the Trilateral Commission, an international think-tank of distinguished global leaders and was also the first recipient of the Man of the Year Award from the Association of Development Finance Institutions of Asia Pacific (ADFIAP).  He is a founding Partner of a Global Advisory Group (Centennial Group) based in Washington D.C. and is a Founding Director of a recently established Global Economic Forum: The Emerging Markets Forum. Dr. de Ocampo, who was the 1975 Ten Outstanding Young Men (TOYM) awardee in the field of National Economic Development for pioneering the Philippine rural electrification program, had been cited as one of the 500 Great Asians in 2001 and a recipient of several Baron’s Who’s Who awards.  In 2004, he was elected to the Board of Advisors of the Conference Board, one of the world’s leading authorities in international business economics (based in New York).   In 2006, Dr. de Ocampo was conferred with the Asian Human Resources Development Award by the Asia HRD Congress.

Dr. de Ocampo had been and is Chairman and/or Board Member of several private companies both in the Philippines and abroad including, among others, the Centennial Group (Washington, D.C.), Centennial Asia Advisors Pte. Ltd. (Singapore), Investment & Capital Corporation of the Philippines (ICCP) Group of Companies, Alaska Milk Corporation, United Overseas Bank, ABS-CBN Broadcasting Corporation, Philippine Airlines, Meralco, Globe Telecom Inc., Philam Asset Management Inc., Metrobank, Seaboard Eastern Insurance Co., House of Investments, Rizal Commercial Banking Corporation, Robinson’s Land Corporation, EEI Corporation, AES Corporation (Philippines) and Phinma Corporation, etc. He is presently Co-Vice Chairman of the Makati Business Club, a Past President of the Management Association of the Philippines (MAP) and an Emeritus member of Financial Executives Institute of the Philippines (FINEX) who named its head office in his honor. He was recently elected as Board Director of the Global Reporting Initiative (GRI).

Dr. de Ocampo is a product of both De La Salle (grade school and high school) and Ateneo Universities. He received his MBA from the University of Michigan, a post-graduate diploma from the London School of Economics and has been conferred four Doctorates (Honoris Causa) by the De La Salle University in Business Administration, by the University of Angeles City in Public Administration, by the Philippine Women’s University in Laws, and by the San Beda College in Humane Letters.

Ramon C. Garcia, Jr., 54, Executive Chairman

As President from 1999 – 2001, Mr. Garcia has led a series of funding rounds culminating in its initial public offering (IPO), the first I.T. company to be listed on the Philippine Stock Exchange.
As President and CEO of iWave, Inc., he improved strategic alliances resulting in the development of various fintech platforms servicing key industries such as the Cagayan Special Economic Zone Authority (CEZA) using iWave’s fintech audit platform. Recently, he created GlobalTradeX (GTX), a sophisticated trading platform licensed to operate within the Freeport Area of Bataan to service clients worldwide.

Mr. Garcia was also the youngest Board of Governor member elected in the history of the Exchange at the age of 27 from 1996 to 1998 and 2000–2001. As a member of the Listing Committee, he was instrumental in the formulation of the Exchange’s Listing Rules and consulted with Philippine lawmakers in the creation of the Securities Regulation Code in his role as a member of the Legislative Committee. He is a consistent representative of the Philippine’s business delegation to a number of Presidential State Visits of President’s Fidel V. Ramos, Joseph Estrada, Gloria M. Arroyo, Benigno C. Aquino, Jr. and Rodrigo R. Duterte to promote the capital markets, Philippine defense IT and business process outsourcing.

He is also the Chairman of the Board of Directors of PGI Systems, Inc., a company based in Singapore. Locally, he currently serves on the Board of Directors of Inter-Active Entertainment Systems, Inc., South Forbes City College, MAA Philippines, Asia Defense and Armaments Corp., HatchAsia, Inc., Cuyapo Rural Bank, RG Holdings, Philippine Minerals and Alloys, Inc., President and Nominee of Diversified Securities, Inc. and founder-member of the Board of Trustees of the Financial and Capital Market Training Foundation.

Mr. Garcia completed his grade school and high school education in 1981 at the St. Ignatius Loyola and in 1985 at the La Salle Military Academy in the USA. In 1991, he graduated with a Bachelor of Science in Industrial Engineering minor in Mechanical Engineering from the De La Salle University in Manila, Philippines and completed the Executive Program for Growing Companies at Stanford University Graduate School of Business in 2022.

Ricardo F. Banaag, President and Chief Executive Officer

Mr. Banaag has over 30 years of experience in the technology industry. He previously served as the country manager of Intel Philippines for over 16 years. Before joining Intel, he also served as country manager for IBM’s Global Network and was responsible for setting up one of the first ISP’s in the Philippines.

Calvin Lim, 42, Director 

Mr. Lim holds an Executive MBA from the National University of Singapore with a diploma in Computing and Information Technology from the Asia Pacific University(formally known as APIIT) in Malaysia. Mr. Lim has over twenty years of experience overseeing operations in the software development and gaming industry. Prior to his appointment, Mr. Lim was the co-founder and served as the Chief Operating Officer of Nogle Limited, a venture studio for early- stage technology start-ups headquartered in Hong Kong. He is also currently on the board of several other listed and non-listed companies around the world.

Jean Henri D. Lhuillier, 53, Director

Mr. Jean Henri Lhuillier is the man behind the expansion of Cebuana Lhuillier since he took the reins from his father, Philippe Jones Lhuillier, following his appointment to the diplomatic corps.
He currently serves as president and CEO of PJ Lhuillier, Inc. (PJLI), the parent company of Cebuana Lhuillier, the Philippines’ largest and leading microfinancial services provider with more than 3,000 branches nationwide. As president & CEO, Jean Henri is instrumental in pushing towards continuous innovation, through the introduction of products and services that best adheres to its mission of bringing financial inclusion to every Filipino.

Mr. Lhuillier also takes on various leadership roles in different organizations. Currently, he is the president and CEO of Cebuana Lhuillier Insurance Solutions, Cebuana Lhuillier Services Corporation, Cebuana Lhuillier Financial Corporation, Just Jewels Diamonds Boutique Corporation, Le Soleil de Boracay Resort, Networld Capital Ventures, Inc., Pawncare Services, Corp., P & EL Realty Corp., P.J. Lhuillier, Development Corp., PJL Corporate Centre, Inc., PJL Leisure, Inc., PJL Ventures, Inc., Riche Gould Real Estate, Inc., Verité Pawn Corp., Araw Properties, Findere, and Einhorn Resources Inc, Director and Board Chairman of Global Restaurant Concepts, Honorary Consul General of the Republic of San Marino to the Philippines, and the President of the Chamber of Pawnbrokers of the Philippines, Inc. He also serves as the Vice Chairman for Cebuana Lhuillier Bank, the country’s fastest growing rural bank.
Through his huge contributions and impact on the pawning industry and his excellent leadership, he received prestigious local and international awards such as Stevie Awards, Golden Bridge Awards, Asia’s CEO Awards, World’s CEO Awards, Anvil Awards, and Philippine Quill awards. In 2022, he was named as a “Master Innovator” by the Mansmith Innovation Awards, in recognition for his foresight in making PJLI and Cebuana Lhuillier a future-ready company through its transition as a fintech company.
Aside from his professional affiliations, Mr. Lhuillier is also a sports patron, especially in softball and tennis. He is the current President of Unified Tennis Philippines (UTP) and the Amateur Softball Association of the Philippines (ASAPHIL).

Mr. Lhuillier graduated with a degree in Bachelor of Science in Economics and Business Administration from St. Mary’s College in Moraga, California, USA. He obtained his doctorate degree in Humanities from the Polytechnic University of the Philippines. He completed the Management Program from the Harvard Business School. He is also an alumnus of the Gemological Institute of America.

Marco Antonio Urera

Marco Antonio R. Urera, 55, Independent Director

Mr. Urera is currently a Board Member and Executive Director of iWave, Inc. and Board Member and President of iWave Advance Research Group, Inc. (IWAR), a subsidiary of iWave, Inc., is engaged in business process outsourcing, field technical support, and cash management services.

Mr. Marco Urera has served as the CEO/President for Vision Technical & Management Services, Inc. (“VTMSI”) since 1987 and Vision A&E, Inc. (“VAE”) since 2007; Founder and Director of Home Alert, Inc. (“HAI”) since 2002 and President of JW Tea Products, Inc. (Natural Health Products) since 1987. VTMSI is an operating and holding company. While VAE, a subsidiary of VTMSI, is a business process outsourcing company engaged in Architecture and Engineering Design using Property Technology (PropTech) such as BIM, Analytics & CAD Production services. It has recently established a branch office in Vancouver, Canada, VAE. Another subsidiary of VTMSI is HAI, a company that imports and distributes fire safety and security products and involved in facilities management services in the Philippines. Mr. Urera is also the Founder (since 1991) and formerly Managing Director (from 1991 to 2013) of Fax n Parcel, Inc. (FNP), a one-stop telecommunications, business center and printing company. He was also the former CEO of EDSAMAIL and Evoserve, an Internet Service Provider and Software Development Services company.

Mr. Urera graduated with a Bachelor of Science in Computer Science from De La Salle University.

Independent Director since August 2020

Mr. Beltran currently serves as the Chairman of the Malaysia Russia Business Council. He is a founding member of the governance and licensing body for Certified Financial Planners (CFPs) of the Financial Planners Association of Malaysia and holds directorships in Agrostan Farms of Kazakhstan, United Helicopters SEA of Hong Kong, and The Royal Langkawi Yacht Club of Malaysia. He has extensive experience in working with commercial and government entities of the Russian Federation across multiple industries and in managing micro and macro aspects of international multi-subsidiary entities.

Previously, Mr. Beltran was involved in several organizations in various capacities. A Board and Global Advisory Board Member of Arshiya International, an Indian-listed integrated logistics company; Country Head of MAA General Insurance Philippines and Advisor of the Malaysian Reserve.

He graduated with a Bachelor of Laws degree at the University of West London and completed his Certificate of Legal Practice from the University of Malaya. Mr. Beltran has a decade-long experience practicing law in London and Kuala Lumpur.

Edwin Villanueva

Director since May 2002; Treasurer since June 2010

Mr. Villanueva is currently the President of ABV Inc., Chairman of VFL Advisors Inc. and President of CIBI Foundation Inc. He is also an Independent Director and Chairman of the Audit Committee of the CTBC Bank Philippines. He is the Treasurer of DFNN Inc. and Adviser to CDC Holdings Inc. and PhilRatings Inc. He currently holds directorships in the Makati Supermart Group, Microventures Finance Co., Fuji Haya Electric Co. and Testech Inc.

In 1998, Mr Villanueva was the President of Financial Executives Institute of the Philippines (FINEX), an industry association of finance professionals. Currently, he serves as a Trustee of the FINEX Foundation. From 1998 to 2001, he served as the Chairman of the Capital Markets Development Council.

Mr. Villanueva served as President of Vickers Ballas Securities Philippines Inc., a member of the Philippine Stock Exchange, from 1997 to 2001 and Sun Hung Kai Securities Philippines from 1990 to 1997. He was with SGV & Co from 1976 to 1990, where he served as Principal In Charge of the Project Development Services Division and Managing Director of the Hong Kong member firm.

Mr. Villanueva received his Bachelor of Science degree in Management Engineering (cum laude) from the Ateneo de Manila University in 1972. He received his Master of Business Administration from Wharton Graduate School, University of Pennsylvania in 1974. He is also a Fellow of the Institute of Corporate Directors after having completed the Directors Training Course of the Australian Institute of Company Directors in 2002.

Director since August 2003

Mr. Ongkauko is currently the President of the OCU Group (since 2003) and OC Ventures Corp. Inc. (since 1995). He is also a Director of Centaur International Pty Ltd. (since 2002), Centaur Exim Pte Ltd. (since 2004), Assie Asia Pty. Ltd. (since 1986), San Antonio Marketing Inc, (since 1997) and Technofoods Inc. (since 1993).


Steve Tsao, 48, Independent Director

Mr. Tsao began his career with the Fortune 50 firms. Most recently he is involved with initial public offerings, M&A’s as well as growth firms in online gaming, media, investments, venture capital, fintech and online payment gateways. He has vast management experience mostly from the technology and online gaming industry through various process management roles in Corning and Dupont; President and COO of IP Ventures Group and IP E-Games and Gigamedia (Nasdaq:GIGM); CEO of Tahadi Games Media; and most recently Group CEO of Mayfair International Technology. He is also the Founder and Managing Director of LeadHope Digital, an online gaming publishing company focusing on the South East Asia markets.

Mr. Tsao received his Bachelor of Science degree in Chemical Engineering (with honors) from the University of New Hampshire in 1997 and his Master of Business Administration (with honors) from Babson College in 2003.

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Nicholas Te

Nicholas Te is a highly skilled Materials Science and Engineering graduate from UC Berkeley, California with a degree earned in May 2020. His professional journey is marked by a strong focus on research and development, as well as pilot-scale production, of novel cathode materials for EVs. Through optimized design of experiments, he paved the way for exponential increases in data throughput and production standard operations. With expertise in cutting-edge analytical techniques such as x-ray diffraction (XRD), scanning electron microscopy (SEM), and inductively coupled plasma – optical emission spectrometry (ICP-OES) to properly assess material properties and quality, Mr. Te has assisted in the development of multiple scalable cathode recipes. Peripherally, he has used his proficiency in several coding languages to aid in creating internal systems (primarily for databasing and data processing) to expedite the work of other engineers.

During his undergraduate period, Mr. Te worked for the NASA-funded Combustion Fire Process Laboratory, aiding in the creation of modular testing systems for materials compatibility research in spacecraft/microgravity conditions. His internships brought him to understand the business and operations of mining in the Philippines with Marcventures Mining and Development Corporation as well as the downstream pyrometallurgical processes of Nickel and Iron at Lianyungang Huale Alloy Co., Ltd.

He is currently serving as a director on Asian Appraisal Company Inc.

Elmer Serrano

Elmer Serrano

Mr. Serrano is the Corporate Secretary of DFNN. Mr. Serrano is a practicing lawyer specializing in corporate law and is the Managing Partner and founder of the law firm SERRANO LAW.

Mr. Serrano has been awarded “Asia Best Lawyer” 3 years in a row by the International Financial Law Review (IFLR) for Banking and Finance, Capital Markets, and Mergers & Acquisitions, one of only two exclusively recognized lawyers in all three practice areas in the Philippines. This comes after being consistently recognized as a “Highly Regarded-Leading Lawyer” in the same fields by IFLR. The Legal 500 Asia Pacific also named Mr. Serrano as a “Leading Individual” in Banking & Finance, after constant citation as a “Recommended Lawyer”.

Mr. Serrano is the Chairman of Dominion Holdings, Inc. (formerly BDO Leasing and Finance, Inc.) and is a director of 2GO Group, Inc. He is also an Independent Director of Philippine Telegraph and Telephone Corporation. Mr. Serrano is also the Corporate Secretary of SM Investments Corporation, SM Prime Holdings, Inc., Premium Leisure Corp., Atlas Consolidated Mining and Development Corporation, as well as subsidiaries of BDO Unibank, Inc.. He is also Corporate Secretary of, or counsel to, prominent financial industry organizations, such as the Bankers Association of the Philippines, the Philippine Payments Management, Inc. and the PDS Group of Companies. Mr. Serrano is a Certified Associate Treasury Professional and was among the top graduates of the Trust Institute of the Philippines in 2001. Mr. Serrano holds a Juris Doctor degree from the Ateneo de Manila University and a BS Legal Management degree from the same university