Salmon, a financial technology group, announced on Friday the appointment of Juan De Zuñiga Jr., a former Monetary Board Member of the Bangko Sentral ng Pilipinas (BSP), as an independent director on the board of the Rural Bank of Sta. Rosa (Laguna) Inc., a Salmon subsidiary.
De Zuñiga brings over four decades of legal, regulatory and governance experience in Philippine banking. As a former deputy governor and general counsel of the BSP, he played a pivotal role in shaping banking regulations, enforcing financial laws and promoting good governance.
Most recently, he served as the director representing the private sector of the Philippine Deposit Insurance Corp. (PDIC). His appointment is undergoing standard BSP confirmation.
Salmon said the appointment reflects its commitment to building governance and regulatory alignment as the company builds a financial platform in the Philippines and beyond, with support from the International Finance Corp. (World Bank Group) and ADQ/Lunate, the Abu Dhabi sovereign wealth fund.
“His deep understanding of the Philippine financial system and lifelong dedication to regulatory integrity are invaluable to us,” said Raffy Montemayor, co-founder of Salmon and chairman of the bank, in a statement.
The bank’s board of independent directors also includes retired Supreme Court Justice Andres Reyes Jr., Romulo Senior Partner Perry Pe and veteran banker Wilfredo Perry Morales.
The bank serves as the foundation of Salmon’s credit-led expansion in the Philippines.