BSP blocks banker Jerry Ngo’s appointment as EastWest Bank director
Money

BSP blocks banker Jerry Ngo’s appointment as EastWest Bank director

Ora et Labora Capital Partners founder and managing director Jerry Ngo has cut short his stay on EastWest Banking’s board.

Ngo resigned as EW director on December 20 after the Bangko Sentral ng Pilipinas rejected his appointment last September 2021.

Jonathan Gotianun taps ex-StanChart, Citi banker Jerry Ngo as new EastWest director

BSP did not confirm Ngo’s appointment because he was a foreign national and EW did not have the 9.09 percent threshold of foreign to enable a foreigner to sit on the board.

Ngo was supposed to serve the remaining term of former Filinvest Development EVP and CFO Nelson M. Bona who retired from the board.

 

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