BDO, BPI presidents double their stock pile in two years
The president of BDO, Nestor Tan, may sometimes wish he were a few inches taller. But in the competitive banking industry, the chief executive of the Henry Sy bank stands tallest with his big, and still growing, stock pile.
According to the latest regulatory disclosures, Tan in just two years has doubled his BDO shareholdings to over 6.9 million shares, a nest egg worth over P760 million at current prices.
Over at BPI, the traditional industry leader when it comes to executive compensation, Cezar Consing also doubled his shareholdings to over one million shares since becoming president and chief executive of the Ayala bank only two years ago.
Back at BDO, Tan is currently the longest serving chief executive of a major bank, having been appointed to the presidency way back in 1998.
And with BDO in the midst of a P60-billion worth of stock rights offer in order to keep its title as the country’s biggest bank, it would be a reasonable forward-looking scenario to assume that Tan would be a billionaire when he reaches senior citizen status by next year.
To give a perspective as to how far BDO has vaulted to industry leadership, one only has to walk down memory lane – Googling is actually more instantaneous – to year 2002, when BDO was listed at the stock exchange.
Banco De Oro, as it was known at that time, ranked 13th in asset size, when it raised P2.2 billion, then a record, from the initial public offering.
But its market debut was marred by a Luzon-wide power outage, forcing the stock exchange to suspend the afternoon trading. BDO closed the first day of trading at P20.75, below the IPO price of P20.80.
The share price sunk even lower the following year, ending 2003 at P17.75.
Yesterday, the stock was trading at the P110 level, after declaring a total of P13.38 in cash dividends since the 2002 listing, never missing a beat, except in 2012 when the bank declared a three percent stock dividend instead.
Money talks
• Santa Claus came early to Lance Gokongwei after the Universal Robina president accumulated about P78.5 million worth of company shares before Christmas.
• Jollibee chief marketing officer Daniel Rafael Ramon Gomez III greeted the new year with nearly P16 million in his pockets after he flipped the stock options he received at P39.85 a share for P200.
Heard through the grapevine
Marcos-era trade minister Roberto Ongpin has just received a certificate of public convenience and necessity for his Balesin Air despite being buffeted by Super Typhoon Digong only a few months ago.
The certificate from the Civil Aeronautics Board allows Balesin Air to engage in domestic and even international transportation services without undergoing the congressional wringer for a franchise.
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