PSE announces new board appointments

The Philippine Stock Exchange (PSE) has appointed three new board members as the local bourse operator builds off a strong start to 2026.

Speaking at a media briefing on Saturday following the PSE’s annual stockholders’ meeting, PSE president and chief executive officer Ramon Monzon said the appointments follow the departures of independent directors Vincent Panlilio and Daily Tribune columnist Ed Lacson, as well as regular director and former PSE president Wilson Sy.

“In place of the two independent directors, we have Ms. Jikyeong Kang, who is the president and dean of the Asian Institute of Management,” Monzon said. “We think her international expertise will bring valuable perspectives on governance to the exchange.”

Likewise appointed as an independent director is Artificial Intelligence expert Niek van Veen vice president for growth at Thinking Machines, a global AI consulting firm.

PSE expands AI use

Monzon said van Veen’s appointment would help guide the PSE as it expands its use of artificial intelligence and digital technologies.

“Basically, the PSE is a technology company. All our trading platforms are IT-based,” Monzon said. “We really sought out a director who could guide the PSE in its IT and AI journey, and I think Niek van Veen will fill that role.”

Meanwhile, Philippine Equity Partners Inc. president Randy Roxas will take the board seat vacated by Sy, whom Monzon said is stepping back to deal with “health issues.”

Doubled Q1 net income

The local bourse operator nearly doubled its first-quarter net income, reporting a 49.9-percent increase to P381.71 million from P254.67 million a year earlier, driven by stronger trading activity, higher revenues and lower expenses.

Revenues rose 18.5 percent to P746.81 million from P645.49 million as both the PSE and the Philippine Dealing & Exchange Corp. recorded robust trading activity during the period despite the onset of the Middle East conflict.