Two independent directors join PDIC board

Two independent directors have been sworn in as private sector representatives to the governing board of the Philippine Deposit Insurance Corporation (PDIC), strengthening the agency’s leadership as it continues to safeguard depositors and promote financial stability.

The oath-taking ceremony was held at the PDIC office in Makati City on Dec. 19, 2025, in a simple ceremony attended by senior officials of the corporation.

Eli M. Remolona Jr., governor of the Bangko Sentral ng Pilipinas and chairperson of the PDIC Board of Directors, administered the oaths of office of Directors Justice Lady P. Soriano and Imelda C. Tiongson.

Directors Soriano and Tiongson were appointed as independent directors representing the private sector, completing the four-member private sector representation on the PDIC Board together with Directors John Mark S. Frondoso and Luis Rey I. Velasco.

As independent directors, Soriano and Tiongson are expected to play a key role in ensuring impartiality in policies governing deposit insurance and in promoting the integrity and soundness of the country’s deposit insurance system.

The PDIC said the new directors bring a wealth of experience and expertise that will further strengthen the organization in the discharge of its mandate to protect the depositing public and support financial stability.

Soriano is currently the chief finance officer of Synergy Grid and Development Philippines Inc., where she oversees financial management and planning and ensures compliance and reporting to the Securities and Exchange Commission and the Philippine Stock Exchange.

She previously worked as a consultant for Calaca High Power Corp. and served as assistant vice president of the Development Bank of the Philippines, and was formerly manager of the PDIC Financial Assistance Management Center from 1996 to 2006.

Soriano holds an economics degree from Ateneo de Manila University and a master’s degree in finance from De La Salle University.

Tiongson brings more than three decades of experience in banking and finance, audit and risk management, corporate governance, and information technology.

She currently serves as vice chairperson and trustee of the Institute of Corporate Directors, trustee of Fintech Alliance PH and Womenbiz PH, and chair of the governance committee of the Management Association of the Philippines, while also working as president and consultant of OPAL SPV, focusing on the turnaround of distressed companies and assets.

Tiongson previously held senior executive positions at the Philippine National Bank and the National Australia Bank and was involved in drafting key business laws, including Republic Act Nos. 11523 (Financial Institutions Strategic Transfer (FIST) Act), 10142 (Financial Rehabilitation and Insolvency Act), and 11232 (Revised Corporation Code).

She holds an accountancy degree from the Royal Melbourne Institute of Technology in Australia and has completed advanced professional programs in banking and strategy.

The PDIC was established on June 22, 1963, under Rep. Act No. 3591 and serves as the government instrumentality mandated to protect depositors and help maintain stability in the Philippine financial system through deposit insurance, bank co-regulation, and the liquidation of closed banks.