By GENALYN D. KABILING
Manila, Philippines – Two heavyweights in business and the academe have been recruited by President Benigno S. Aquino III to replace appointees of his predecessor.
The President has appointed auditing veteran David Balangue as new commissioner of the Securities and Exchange Commission (SEC) and economics professor Emmanuel Esguerra as acting deputy director general of the National Economic and Development Authority (NEDA), Malacañang announced yesterday.
Balangue, former chairman and managing partner of Sycip Gorres Velayo & Co. (SGV), replaces Raul Palabrica, whose term ended last March at the State-run corporate watchdog, according to deputy presidential spokeswoman Abigail Valte. Palabrica was appointed SEC commissioner by then President now Pampanga Rep. Gloria M. Arroyo in 2005.
Esguerra, an associate professor at the University of the Philippines School of Economics, takes over the post of Augusto Santos as acting NEDA deputy director general. Santos previously served as acting NEDA chief during the time of Arroyo.
Valte said the appointment papers of the two new government executives were signed by the President last July 4.
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