Board of Directors

Melito S. Salazar, Jr.

Chairman of the board (independent)

Mr. Salazar assumed his role as Chairman of the Board of Directors in January, 2014 after having held the position of Vice Chairman since the Company’s inception. He currently holds the following positions: Chairman of the Chamber of Commerce of the Philippines, Vice President of Manila Bulletin Publishing Corporation (PSE:MB), Independent Director of Philippine First Insurance Corp., Independent Director of Tanay Rural Bank and Chairman of InterAsia Development Bank.

He previously held the following government positions: Member of the Monetary Board of the Bangko Sentral Ng Pilipinas (BSP) (1999-2005), Undersecretary of the Department of Trade & Industry (1995-1999), Vice Chairman & Governor of the Board of Investments (1988-1999) and Director of the National Power Corporation (1985-1988).

Mr. Salazar earned a B.S. degree in Accounting from the University of the Philippines (1971) and an M.B.A. from the University of the Philippines (1974). He also completed an MIT Executive Program from the Massachusetts Institute of Technology in 2004, Audit Committees in a New Era Program from the Harvard Business School (2002) and Global Economy & International Program from the New York Institute of Finance (2001).

Renato C. Valencia

Vice Chairman

Mr. Valencia assumed his role as Vice Chairman of the Board of Directors in January, 2014. He currently holds the following positions: President & Chief Executive Officer of Roxas Holdings Inc. (PSE:ROX), Chairman of Bastion Payment Systems Corporation, Director of Metropolitan Bank and Trust Company (PSE:MBT), Chairman of Hypercash Payment Solutions, Inc., Chairman of iPeople, Inc. (PSE:IPO), Director of Anglo Philippine Holdings Corporation, Vice Chairman of Asia Pacific Network Holdings, Inc. and President of Point Lobo International Corporation.

He previously held the following positions: Administrator/President & CEO of the Social Security System (1990-1998), Chairman/CEO of Union Bank of the Philippines (1990-1993), Vice Chairman of San Miguel Corporation (1994-1998) and Director/Chairman of Executive Committee of Philippine Long Distance Telephone Co. (1993-1998), Chairman of Philippine Savings Bank (1999 to 2002), Director of Philex Mining Corporation, Member of the Advisory Board of Philippine Coca-Cola System Council, Director of Bases Conversion Development Authority and Fort Bonifacio Development Corporation.

Mr. Valencia earned a B.S. degree in General Engineering from the Philippine Military Academy (1963) and an M.B.M. from the Asian Institute of Management (1971).

Simoun S. Ung

Director, President & Chief Executive Officer

Mr. Ung was appointed as a Member of the Board of Directors in April, 2010. He is currently the President & Chief Executive Officer of OmniPay, Inc., formerly PVB Card Corporation. He is the Vice Chairman of Bastion Payment Systems Corporation which developed and launched the first proprietary payment gateway in the Philippines compliant with Payment Card Industry standards. He is the Vice Chairman of Sanson Mineral Resources, Inc. and Director of Transpacific Broadband Group International, Inc. [PSE: TBGI]. Mr. Ung is also the Chairman of Wycliffe Bible Translators Philippines, Inc. and Chairman of the Security Disaster Resource Group Committee of the American Chamber of Commerce. He is the Vice Chairman of the Overseas Security Advisory Council - Manila Country Council, a Federal Advisory Committee with U.S. Government charter to promote security cooperation between the U.S. Department of State and American business and private sector interests worldwide. Mr. Ung is also the Ambassador to the Philippines for the Ivey School of Business of the University of Western Ontario.

Mr. Ung served on the Board of Directors of several listed companies: Federal Resources Investment Group, Inc. (PSE:FED), Revonergy Plc. (OTCBB:RNRG), and Mobiclear, Inc. (OTCBB:MOBI). He was also a Member of the Board of Advisors of Essential Innovations Technology Corp. (OTCBB:ESIV). He was also a Service Provider to RBS Coutts Bank Ltd. Mr Ung’s other past experiences include Adviser-Origination of Hambrecht & Quist Philippines Inc. and President of Four Star Consulting. Mr. Ung was an Advisor to the Supreme Court, Consultant to the Commission on Elections and the Office of International Policy and Special Concerns of the Department of National Defense. He was a Commander in the Coast Guard Auxiliary - 101st Squadron and on the Board of Trustees of the Foundation for the Promotion of Peace and Prosperity in the Philippines USA, a Washington State registered charity. He was the President of the Philippine Chapter of the Foundation for the Support of the United Nations and was a Deacon of Grace Christian Church of the Philippines.

Mr. Ung earned a B.A. degree in Psychology & Economics from the University of British Columbia (1989) and an M.B.A. from the Richard Ivey School of Business, the University of Western Ontario (1993). He also completed the Property Management course at the Real Estate Division of the Faculty of Extension of the University of Alberta (1995), the Nitty-Gritty of the Anti-Money Laundering Law: its Implementing Rules and Regulations program by the Institute of Continuing Legal Studies of the Arellano University (2000), Corporate Good Governance course by the Philippine Institute of Certified Public Accountants (2008), 2nd Advanced Programme for Central Bankers and Regulators at the Institute of Global Finance and Economics of the Chinese University of Hong Kong (2014) and the Executive Education Course on the National Retail Payments System by the Bangko Sentral ng Pilipinas with the National Payment Systems Institute (2014). Mr. Ung has had numerous speaking engagements including resource speaker for the Federal Bureau of Investigation on advanced money laundering using electronic payment systems; keynote speaker to ComputerWorld conference on cloud computing and speaker at the National Defense College of the Philippines on information technology security management. Mr. Ung also contributed an article on “the Evolving Landscape on Information Security” in a special edition of the National Security Review in 2012 published by the National Defense College of the Philippines.

David L. Balangue

Director (Independent)

Mr. Balangue was appointed as Chairman of the Audit Committee April, 2014. He was formerly the Chairman and Managing Partner of Sycip Gorres Velayo & Co. 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).

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

Francisco F. Del Rosario, Jr.

Director (Independent)

Mr. Del Rosario served as the Chief Executive Officer and President of Development Bank of the Philippines (DBP) from September 2010 until September 2012. Mr. del Rosario served as Chairman and Chief Executive Officer of Asia Pacific Network Holdings Inc. from 1998 to 2005 where he was engaged in financial advisory, mergers and acquisitions, and asset management. He served as Chief Executive Officer and President of Roxaco Land Corporation (RLC) from March 26, 2009 to September 1, 2010. He was responsible for the strategic direction of the sugar and real estate businesses of the Roxas group. He served as Chief Executive Officer and President of Roxas and Company, Inc. (RCI) from March 26, 2009 to September 1, 2010. He served as Chief Operating Officer and Executive Vice-President of Roxas and Company, Inc. and Roxaco Land Corporation. Mr. del Rosario served as Chief Operating Officer and President of Roxas Holdings Inc., from December 2006 to March 2009. He served as an Executive Vice President of Roxas Holdings Inc., since March 22, 2006. Mr. del Rosario served as Undersecretary for Finance of the Department of National Defense. He serves as Chairman of Tollman Manufacturing, Inc. He served as Chairman of the Development Bank of the Philippines.

He served as Chairman of UCPB General Insurance Co. Inc. from 2003 to 2005. He serves as Vice Chairman of Habitat Philippines, Inc. He served as Vice Chairman of Roxas Holdings Inc., from March 2009 to September 1, 2010 and its Director from November 22, 2005 to September 1, 2010 respectively. He serves as a Director of Actron Industries, Inc. and the Civil Aeronautics Board. He has been a director of DMCI Homes, Inc. and Mapfre Insular Insurance Corporation since 2011. Mr. del Rosario serves as a Trustee of the Center for Family Ministry and ABS-CBN Foundation, Inc., among others. He served as a Director of Roxas & Company, Inc. from November 17, 2005 to September 1, 2010. He served as a Director of CADP Group Corp. since November 17, 2005.

Mr. del Rosario studied degrees in Bachelor of Science in Commerce major in Accounting and Bachelor of Arts major in Economics at the De La Salle University in 1970 and earned his Master's degree in Business Management at the Asian Institute of Management in 1972. Mr. del Rosario completed academic requirements for his Doctorate in Business Administration from the De La Salle University.

Joven D. Reyes

Director

Mr. Reyes was first appointed as a member of the Board of Directors in June, 2009. He previously held the position of President & Chief Executive Officer in PVB Card Corporation from June 2010 to March 2012. He previously held the following positions: Country Manager for American International Group (AIG) responsible for the operations of the non-insurance businesses of the company in the Philippines and as Director, President & CEO of AIG PhilAm Savings Bank (2007-2009). Prior to joining AIG, Mr. Reyes was President & CEO of Bankard, Inc. and Executive Vice President of RCBC. During his tenure, Bankard solidified its position in the card industry by, among others, launching the myDream JCB card in the country. He was also a former President of BancNet and was part of the team that signed up an acquiring agreement with China Union Pay (CUP), paving the way for the acceptance of CUP cards in all BancNet ATMs nationwide. A pioneer in the card industry, Mr Reyes launched the card business of Citibank, NA in the Philippines in October 1990.

Mr. Reyes earned a B.S. degree in Mathematics from the Ateneo de Manila University (1972), Summa Cum Laude. Cum Laude and Class Valedictorian. He obtained his M.B.A. from the Harvard Business School (1978) where he was a recipient of the G.D. Searle International Fellowship.

Julio D. Sy, Jr.

Director (independent)

Mr. Sy is the Founder, President & CEO of the TAO Group of Companies, a multi-billion peso conglomerate of over 4,000 employees with interests primarily in marketing and distribution along with health and wellness. TAO is the largest distributor for Proctor & Gamble in the Philippines. Under TAO, Mr. Sy owns several operating subsidiaries in the financial services sector: i.CAN Worldwide operates a mobile commerce utility; i.CAN Capital is a micro-lending business; Inter Asia Development Bank is a thrift bank focused on the small and medium enterprise segment; and e-Pera Philippines provides foreign exchange and remittance services. Mr. Sy is on the Board of Trustees of the Child Protection Network and Founder of the Music Nation 7107 in support of Original Pinoy Music.

Rafael D. Legaspi

Director

Mr. Legaspi was appointed as a member of the Board of Directors in November, 2011. He is the President & CEO of Asia Pacific E-Serve Corporation which holds an 16% stake in OmniPay, Inc. He is also the Vice Chairman of the OFW Community, a cooperative composed of overseas Filipino workers and their dependents. Mr. Legaspi was formerly the Chairman, Supervisory Board of Wirecard Asia Pacific, Inc., a wholly-owned subsidiary of Wirecard AG [TecDAX, ISIN DE0007472060, WDI].

Mr. Legaspi earned a B.A. degree in Business Administration from University of the East.

Romualdo H. Ventura

Director

Mr. Ventura was appointed as a member of the Board of Directors in January, 2014. He owns and operates several technology related companies including Rice Technologies Inc. and Generation E-Systems Inc. His other holdings include Harp Finanza International Inc., a Western Union sub-agent; One World Logistics Systems, a freight forwarding company for UPS in Quezon City and Ventura Land Inc. Mr. Ventura was Vice President for Marketing for Cyberweb Group, Inc. (2002), Velocity Motors & Collision Specialists, Inc. (2007) and Saturn Autospec Inc. (2001). He was also Vice President for Finance for Vision Communications (1998), Senior Sales Manager for Labworks Computers (1997), Managing Director for Asialink Express Magazine for Men (1997) and Operations Manager for Filipino Entertainment Network (1996). Mr. Ventura was also an Account Executive for the European Chamber of Commerce of the Philippines (1992).

Mr. Ventura earned a B.A. degree in Humanities and Psychology from the University of the Philippines (1992). He also completed the Local and Wide Area Networks course at the Ataneo de Manila (1994)

Management Team

Simoun S. Ung

Director, President and Chief Executive Officer

Anna Liza Eugenio-Alincastre

Executive Vice President and Chief Operating Officer

Stephen P. Cutler

Compliance Consultant