Sy family-backed China Banking Corp. (Chinabank) has appointed banking veteran Narlette D. Manacap-Jaravata as Chief Compliance and Governance Officer as part of a series of management changes approved by its board of directors.

In a Thursday disclosure to the local bourse, the bank said the appointments and promotion were approved during its regular board meeting on 3 June. 

Effective 16 July, Manacap-Jaravata will succeed First Vice President and Chief Compliance and Governance Officer Aileen Paulette S. De Jesus, who will retire at the end of June. Chinabank said De Jesus will remain with the bank on a contractual basis from 1 July to 31 December 2026 and will serve as adviser to the Compliance Group beginning 16 July.

Manacap-Jaravata will join Chinabank as Senior Vice President and Chief Compliance and Governance Officer, bringing more than 20 years of experience in banking and insurance. She previously served as Chief Country Compliance Officer, Head of the Country Anti-Money Laundering Team, and Data Protection Officer at Citibank N.A. Philippines. She also held legal positions at Philippine AXA Life Insurance Corp. and the Bank of the Philippine Islands.

The board also appointed Gabriel Q. Villaluz III as head of Corporate Banking Division 2 under the Institutional Banking Segment, with the rank of First Vice President I, effective 8 June. A Chartered Financial Analyst, Villaluz has more than three decades of experience in corporate finance, investment banking, asset management, and business development, having held senior positions at Ayala Corp., ACEN Corp., ING Bank Manila, and BPI Capital.

In April, Chinabank increased its dividend payout to shareholders, declaring a total of P7.5 billion in cash dividends. The board approved a total dividend of P2.80 per share, consisting of P1.80 in regular dividends and P1.00 in special dividends, marking a 12-percent increase from last year’s P2.50 per share.