The Ty family’s flagship GT Capital Holdings Inc. announced key leadership changes in its wholly-owned subsidiary Federal Land Inc., with Jose Mari H. Banzon taking the helm of the property development company starting next year.
In a disclosure to the Philippine Stock Exchange, GT Capital said William Thomas F. Mirasol, current President of Federal Land, has been promoted to the role of Vice-Chairman effective Jan. 1, 2025.
This is concurrent with his current role as President of Federal Land NRE Global (FNG), the property company’s joint venture with Nomura Real Estate Development Co., Ltd. of Japan.
Banzon, currently Finance Director of Federal Land, has been appointed President.
“GT Capital welcomes these leadership changes in Federal Land and FNG as the holding company enters the new year with optimism for sustained growth,” the firm said.
Mirasol has played a significant role in Federal Land since joining the company in 2019. With over 31 years of real estate management experience, he has driven Federal Land to unprecedented success and solidified its position as a multi-award-winning property company.
GT Capital said Mirasol will continue to oversee Federal Land’s strategic international partnerships and joint ventures with leading global brands and corporations.
Banzon previously served as Executive Vice President and General Manager of Federal Land from January 2006 to 2013. He joined SM Prime Holdings, Inc. in 2013 and was appointed President of SM Development Corporation (SMDC) in February 2020.
Banzon was responsible for expanding SMDC’s portfolio into new formats and markets. He rejoined Federal Land in 2024.
“GT Capital is looking forward to working closely with both Mr. Mirasol and Mr. Banzon. In their new leadership roles, they will define the next stage of growth for both Federal Land and FNG, and usher in a new generation of property development products and services that align with GT Capital’s mission of value creation to meet the evolving needs of its stakeholders,” the firm said.