PNB’s Maclang on the way out as bank president — report
He is reportedly tapping out after decades spent in the industry.
Reynaldo Maclang, the trusted banker of bilyonaryo Lucio Tan, is apparently on his way out of the Philippine National Bank (PNB).
A report on the Inquirer’s Biz Buzz said that Maclang, who is turning 80 this year, has been telling his “inner circles” that he is about to step down as bank president and chief executive officer.
However, PNB said in a disclosure on Monday, Aug. 20 that such talks have not reached the bank’s board.
“We wish to advise the Exchange that to date, the PNB Board of Directors has not approved any such retirement of PNB President, Reynaldo A. Maclang,” the big bank told the local bourse.
Coincidentally, HSBC president and CEO Wick Veloso has also announced his resignation on the same day. Is PNB his next target?