OVIALAND, Inc. on Monday said former Development Bank of the Philippines (DBP) President and Chief Executive Officer (CEO) Emmanuel G. Herbosa has joined its board as independent director.
“We welcome Mr. Herbosa to our board, with his expertise in the financial industry being crucial in our goal to expand throughout the Philippines. We look forward to working with him in identifying key areas where Ovialand can strategically maximize its growth for the long term,” Pammy Olivares-Vital, president and CEO of Ovialand, said in a statement.
Mr. Herbosa has over 40 years of experience in the financial industry. He was the president and CEO of DBP from 2019 to 2023.
Prior to his DBP stint, he served as president and CEO of Philippine Import-Export Credit Agency, executive vice-president for Bank of Commerce, and chief operating officer of Ayala Insurance Group.
“I am thankful for the opportunity to serve as an independent board member of a fast-growing company that is yet to realize its full potential,” Mr. Herbosa said.
Ovialand recently filed a P2.2-billion initial public offering (IPO) plan with regulators. Proceeds from the IPO will go to land-banking initiatives in Laguna and Bulacan; and the development of real estate projects in Laguna, Batangas, Quezon, and Bulacan.