Listed real estate developer Italpinas Development Corp. (IDC) has appointed banking veteran Alfonso L. Salcedo and finance expert Melchor C. Guerrero to its board of directors to strengthen leadership team.

IDC CEO Romolo V. Nati said on Monday that the appointments will help drive the company’s expansion vehicle.

“We are confident that their contributions will help us achieve our long-term goals and deliver value to our stakeholders,” Nati said.

Salcedo, who brings over 40 years of banking experience, previously served as president and CEO of Security Bank from 2015 to 2019. He also held key executive roles at the Bank of the Philippine Islands (BPI), including executive vice president and president of BPI Family Savings Bank. 

“IDC represents an exciting convergence of innovation, sustainability, and growth. I am deeply honored to join the board at such a pivotal moment in the company's journey,” Salcedo said.

Guerrero, a seasoned capital markets professional, has led major stock listings, including those of Agrinurture, East West Bank, and Cirtek Holdings. 

He previously served as president of Ernst & Young Transaction Advisory Services and vice president of the Philippine Stock Exchange’s capital markets division. He also played a key role in initiating the Real Estate Investment Trust law and the One Person Corp. framework. 

“I am delighted to have been invited to serve a company that is in this exciting stage of its growth story,” Guerrero said.

IDC specializes in sustainable projects in emerging cities by combining environmental responsibility with Italian-inspired designs.

Last December, it announced its latest partnership with Thailand’s Dusit International to develop two hotels in Northern Mindanao — Dusit Princess Moena in Bukidnon and Dusit Princess Firenze in Cagayan de Oro.