Aquino appoints ex-SGV chair Balangue as new SEC commissioner

David Balangue, new SEC commissioner

The SEC is one of the powerful agencies in government with its task to regulate corporate activities and capital markets in the country and ensure that there is a balance between the interests of investors and the needs of a competitive business environment.

With Balangue now part of the 5-man commission, President Aquino now has two appointees. The other is current SEC Chairman Teresita J. Herbosa, a lawyer.

Balangue will be the only non-lawyer among the commissioners. Juanita Elegir-Cueto, Manuel Gaite and Eladio Jala all have legal backgrounds and appointed by former President Arroyo.

Prior to starting his SEC stint, Balangue climbed the corporate ladder since he joined SGV in 1982, retired in 2009, and had been active in corporate governance efforts since.

Just like SGV's chair emeritus Washington Sycip, Balangue also sat in different boards of private and listed firms, including Roxas Holdings, Trans-Asia Oil and Energy Development Corp.

He has been visible among business and policy-making circles through his active participation in industry associations, including Philippine Institute of Certified Public Accountants (PICPA), the Financial Executives Institute of the Philippines (FINEX), Capital Markets Development Council, and the Management Association of the Philippines (MAP).

He has a magna cum laude for his B.S. Commerce degree from Manuel L. Quezon University, a post graduate Finance degree from Northwestern University in Illinois. -