The Development Bank of the Philippines has appointed Cecilia Borromeo as its new chief executive officer (CEO) and president, with effect from January 9, 2017. Prior to this, Borromeo served as the officer in charge at Land Bank, which she joined in 1989. Earlier, Borromeo was leading the bank’s Land Agricultural and Development Lending Sector. Besides, Borromeo has headed the bank’s institutional banking sector, treasury and investment banking, account management, global banking, credit policy and supervision, among other sectors. Borromeo holds a Master of Business Administration degree from the De La Salle Business School, and has also attended the International Study on Rural Banking and Finance at the Massey University in New Zealand.