Josephine Gotianun Yap is passing on the reins of Filinvest Development Corporation (FDC) to investment banker Rhoda “Chiqui” A. Huang who has been appointed as the firm’s new President and Chief Executive Officer effective August 1, 2023.
Filinvest Development Corporation President and CEO Rhoda A. Huang
In a disclosure to the Philippine Stock Exchange, the firm said Huang brings invaluable expertise to the company's executive team with her experience as an investment banker and proven track record of successful mergers and acquisitions.
“We are pleased to have Chiqui Huang lead the next phase of the Filinvest group and believe in her ability to guide organizations towards achieving their vision. Her leadership will be instrumental in our pursuit of strategic objectives and advancing our position in the market," said FDC Chairman Jonathan T. Gotianun.
Filinvest Development Corporation Vice Chairman Josephine Gotianun-Yap
FDC’s outgoing President and CEO Gotianun-Yap, who spearheaded significant milestones for the Gotianun family business, is taking on the position of Vice Chairperson of FDC’s Board of Directors.
The announcement follows a roster of high-level leadership changes within the Filinvest group, with FDC proactively assuming the role of growth catalyst and center of excellence supporting its key subsidiaries.
“Succession planning has been identified as a primary strategy to ensure business continuity and the orderly futureproofing of the organization,” said Gotianun-Yap.
She noted that, “As we thrive in this post-pandemic revitalization phase, we look forward to Chiqui harnessing the depth of her investment banking experience which has exposed her to industries where the Filinvest group also operates.”
Huang brings to FDC more than 30 years of experience in Philippine corporations, financial and government institutions. Prior to her appointment, Huang was President of BPI Capital Corporation and Branch Head of Investment Banking for Credit Suisse Philippines.
She worked for 19 years at JPMorgan Chase and its predecessor institutions and was responsible for expanding the bank’s major corporate relationships.
Huang completed her Bachelor’s degree in Business Administration and Accountancy at the University of the Philippines and is a Certified Public Accountant.
Expressing her enthusiasm about joining the company, Huang said she is looking forward to contributing to its ongoing success.
“I am honored to be a part of this esteemed organization and look forward to leveraging my experience to create value for our stakeholders,” she said.
Meanwhile, FDC also announced the appointment of Brian T. Lim as Chief Finance Officer. Lim has over 14 years of experience in the financial field and was Chief Finance Officer at one of the largest construction companies in the Philippines.
He graduated Summa Cum Laude and Class Valedictorian from the University of St. La Salle in Bacolod City in 2006 and is a CPA board exam topnotcher.
Lim has also completed executive management programs at the University of Asia and the Pacific and Massachusetts Institute of Technology (MIT) Sloan.
The Filinvest group is ready for growth with new team leaders driving strategy and synergy.
"FDC has established a solid foundation for growth, supported by an extensive asset base, an expansive network, and brand portfolio which is poised to reach its full potential. We believe that with new leaders who embrace our core values, bring fresh perspectives, and build on our established businesses, we can foster a high-energy, growth-oriented company," said Gotianun-Yap.
Gotianun-Yap assumed leadership of the Gotianun family business during a critical period of recovery following the Asian Financial Crisis.
With the invaluable guidance of Filinvest founders, the late Andrew and Mercedes Gotianun, Josephine, with her brother, FDC Chairman Jonathan Gotianun, successfully transformed the company, growing its net income from P52 million in 2002 to P12 billion pre-pandemic.
As of December 2022, the Filinvest group has an asset base of P 686 billion and equity of P165 billion.