Former SEC chief joins PBCom board
Philippine Bank of Communications (PBCom) announced that former Securities and Exchange Commission Chairperson Teresita J. Herbosa has been elected as independent member of its Board of Directors.
In a disclosure to the Philippine Stock Exchange, the bank said Herbosa was elected by its Board upon the endorsement of the Governance Committee, effective Nov. 2, 2022.
Herbosa shall serve the unexpired term of the bank’s former director Jaime J. Bautista who is now the Secretary of Transportation. In the same meeting, the Board appointed Herbosa as a member of the bank’s audit and risk oversight committees.
Herbosa served as Chairperson of the SEC from April 2011 up to June 2018. During her tenure as SEC Chairperson, she proposed significant amendments to the Corporation Code which culminated in the enactment of the Revised Corporation Code of the Philippines last February 2019.
Prior to government service, Herbosa was with Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW) where she headed its prestigious Litigation and Dispute Resolution Department for more than ten years during which it was consistently recognized as the best in that area of practice. She retired from ACCRALAW in April 2011 as a Senior Partner and Co-Managing Partner.
She currently serves as a director of the Board of the Telecommunications Connectivity, Inc., and also sits as an independent director of mutual fund companies under the Sunlife Group. These are: Sunlife of Canada Prosperity Bond Fund, Inc., Sunlife Prosperity Peso Starter Fund, Inc., Sunllife Prosperity Dollar Starter Fund, Inc., Sunlife Prosperity Peso Voyager Feeder Fund Inc., Sunlife Prosperity World Income Fund, Inc., Sunlife Prosperity Achiever Fund 2028, Inc., and Sunlife Prosperity Achiever Fund 2038, Inc.
Herbosa is likewise a trustee of the CHS Alumnae Foundation Inc.
She is a law professor at the DLSU College of Law (Rufino Campus) and Lyceum Makati, teaching commercial laws such as the law on corporations, securities regulation, banking, transportation, insurance, intellectual property, competition and data privacy.
Herbosa finished AB Political Science cum laude at the University of the Philippines (UP) Diliman, and Bachelor of Laws cum laude and class salutatorian from the UP College of Law. She has a master’s degree from the University of Michigan.