The secretaries of ministries have been barred from serving as chairpersons and directors of the 16 state banks and financial institutions in the latest guideline from the finance ministry as the government looks to enhance corporate governance in the organisations.
The Rizal Commercial Banking Corp (RCBC) accepts the resignation of Lorenzo Tan as president and CEO of the Yuchengco-controlled financial institution effective immediately, the bank says in a statement.
The secretaries of ministries have been barred from serving as chairpersons and directors of the 16 state banks and financial institutions in the latest guideline from the finance ministry as the government looks to enhance corporate governance in the organisations.
The Rizal Commercial Banking Corp (RCBC) accepts the resignation of Lorenzo Tan as president and CEO of the Yuchengco-controlled financial institution effective immediately, the bank says in a statement.
