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President's Message
Atty. Benedicta Du-Baladad Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

To FINEX members and friends, PRESIDENT’S REPORT April 2017 Issue The first quarter of 2017 has been very busy for our organization. Our organization has been very active in various advocacy programs especially participating in various consultative meetings on tax reform. On top of that, we have also conducted several activities for the professional development of our members.


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President's Notes - February 2013
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Theme 2013

For year 2013 and in keeping with demands of the times, we crafted our theme this year as:  “FINEX @45 – Inspiring Financial Excellence and Integrity Towards Global Competitiveness.” As the 41st President of FINEX, I thought that we could show our “humble worth to be the global best and seek that rightful place where financial excellence and integrity reside….  FINEX, as the premier finance organization in the Philippines ….shall drive changes and make a difference in pursuit of the country’s competitiveness.  When all of 700 strong FINEX members push consistently in the same direction and exhibiting both financial excellence and integrity, great things and great results will most certainly happen.”

Our 2013 Board of Directors agreed to pursue the Vision 2018 Signature Projects to pave the way for the 50th anniversary celebration.  These include the global accreditation system, professional development, capital markets development, national affairs reforms, and comprehensive social security.  With a strong membership, FINEX can leverage on the collective knowledge and experience of its leaders and members so that we can achieve global competitiveness. By 2018, it is envisioned that these signature projects will be in place, no longer emergent, but functional and operational.    

Strategic Priorities Reported to the Council of Past FINEX Presidents

As it is customary for the incumbent president to render a report to the Council of Past Presidents, a meeting was held on January 23 for this purpose.  I presented the flagship projects for the year and articulated our strategic priorities for 2013 through the various key committee plans and programs.  It was inspiring to see 16 Past FINEX Presidents who came to grace the occasion.  Briefly, the highlights of the Report to the Council of Past Presidents included:

  • Membership – for quality recruitment and retention, with net growth of 100 new members

  • Professional Development – for financial proficiency, leadership skills and people skills

  • National Affairs and Capital Markets Development – for advocacies on national reforms, taxation and legislation with active involvement by partnering with the regulators and collaborating with other major organizations

  • Vision 2018 Signature Projects – with focus on the comprehensive Social Security and IAFEI global accreditation system

  • International Relations - laying the groundworks for the 44th World Congress which FINEX will host in October 2014

  • Youth for nation building through finance education – for the Junior FINEX Inter-Collegiate Finance Competition, and the

  • Secretariat – to strengthen the organization support system

A Quick Start

As expected and barely two weeks from induction, detailing our plans came quickly with all the committees gearing up for the year’s offerings.  First among them was the Economic Briefing on February 5, sponsored by the Professional Development Committee which featured three resource speakers and their respective topics:

  • Jonathan Ravelas, FVP & Chief Market Strategist, BDO Universal Bank, who spoke about the Domestic Financial Market

  • Hon. Rene Limcaoco, Undersecretary for Planning, Department of Transportation and Communications, who spoke on the Private Partnership Program and the government economic development program and DOTC infrastructure projects, and

  • Dr. Dan Steinbock, Research Director of Internatonal Business, India, China and America Institute, who spoke on the Global Economic Prospects, Continuing European Crisis and Other Risk Factors Affecting the Global Economy

This briefing was followed by the SEC Updates Forum held on February 20, organized by the Tax and Legal Committee and co-sponsored by the Management Association of the Philippines (MAP) featuring Securities and Exchange Commission officials - Commissioner Antonieta F. Ibe and General Accountant Atty Ma. Gracia Casals-Diaz.   Commissioner Ibe spoke on the scope of the SEC rules and regulations, accomplishments of SEC in 2012, and key priority areas in 2013 to further improve accountability and governance in financial reporting.  Atty Casals-Diaz spoke on new developments in financial reporting regulations, findings and significant issues on audited financial statements.  The forum drew enthusiastic attendance from private companies, both listed and non-listed, accounting firms and law firms.      

General Membership Meetings (GMM)

Our Programs and Meetings Committee continue to provide relevant topics and highly qualified resource speakers.  For our February GMM, we are privileged to have a colleague and a friend of FINEX as our guest of honor.  None other than top-notch and multi-awarded banker, MAP Man of the Year 2012, Mr. Aurelio R. Montinola III, BPI President and CEO, is speaking on the “Outlook of the Banking Industry:  Near Term Prospects and Meeting the Challenges of the ASEAN Integration in 2015.” Most sought after not only for his competent views on banking, but also for his global appreciation of corporate finance and the capital market, Gigi, as friends call him, is indeed the best choice for the February GMM.    

We are also inducting our first batch of new members for the year 2013.  Thanks to our Membership Committee.  Our inductees are:  

            Jessie Cabaluna                            SGV & Co.

Nenette N. de Jesus                     Magsaysay-Houlder Insurance Brokers, Inc.

Rodel T. Gallega                           Ford Group Philippines

David T. Leechiu                           Jones Lang LaSalle Leechiu

            John Patrick C. Lim                     Isla Lipana and Co.

Lee C. Longa                                 Pru Life UK

Randi G. Lorica                             Stream Interantional Global Services, Phils. Inc.

Maria Myla S. Maralit                 Manabat Sanagustin and Co.

Noel P. Rabaja                              SGV & Co.


The Programs and Meetings Committee has done advance planning for our next GMMs.  For March 20, BIR Commissioner Kim Jacinto-Henares has confirmed to speak on the “BIR Plans and Programs 2013” at the Ballroom B Dusit Thani Manila.  On April 17, we expect six candidates running for the Senate to be our guests in a “Senatoriables Forum.”  The announcement for the senatorial candidates who will confirm will be made in due time.  

Advocacies and Reforms  

(MIKE to write about this activity of CMDC.   This highlight is only to serve as an alert /reminder that a major correction/insertion has to be made.  In the final paragraph, there is NO NEED TO HIGHLIGHT.)

The Capital Markets Development Council, and ----------------------------

We issued a position paper signed together with the other (?) organizations, like Makati Business Club stating ............................a position on the role of the ....... supreme court and .............draft rules comments to BIR (?)

Other activities

Plans are also afoot for the following activities:  
    FINEX Week/Annual Conference – October 3 & 4, 2013

    43rd World Congress – October 16-17, 2013, Warsaw, Poland  
th World Congress 2014 which will be hosted by FINEX Philippines

Discussions have been held by the FINEX Week Committee on the FINEX Week and Annual Conference in October 2013.  The International Relations Committee and the secretariat of the IAFEI have discussed plans on the logistics and participation in the 43rd World Congress of IAFEI in Warsaw, Poland.  With FINEX hosting the 44th World Congress in 2014, we would aspire to send a big delegation to the 43rd World Congress.  This is to entice increased attendance by foreign delegates and at the same time promote the Philippines as a world-class tourist destination and investment haven.           


With this initial salvo, I wish to acknowledge the 2013 Leadership Team consisting of the Board of Directors and Officers, and the Committee Chairs and their respective Liaison Directors, for their collective energies in the timely execution of our plans and programs for the year. Thank you.