P&A announces executive appointments
Punongbayan & Araullo (P&A) Founder Benjamin Punongbayan announced the designation of new leaders of the professional accounting services firm effective July 1, 2012.
Ma. Victoria C. Españo has been named to the top post of chairperson and chief executive officer while Leonardo D. Cuaresma Jr. takes on the role of managing partner and chief operating officer. This marks a significant milestone in the history of P&A, as a new, younger generation of partners take on the top management of the firm, which will celebrate its 25th anniversary next year.
Punongbayan, who was formerly Chairman of P&A, will relinquish his day-to-day responsibilities to focus on raising further the profile of the firm and engaging in client development.
Ms. Españo brings to her new post extensive experience in taxation and organizational management. She joined P&A in 1997 and in 2001, became the head of the firm’s Tax Advisory & Compliance Division, which she led for five years. In 2009, she expanded her role to managing partner and chief operating officer, subsequently becoming chief executive officer after two years.
She holds a Master in Accounting degree from the Polytechnic University of the Philippines and she completed the Advanced Management Program at Wharton Business School of the University of Pennsylvania, USA.
In his new role, Mr. Cuaresma will be assisting Ms. Españo in leading the P&A team. He joined the firm in 1988 and was admitted to the partnership in 1996. Since 2006, he has been the head of the firm’s Audit & Assurance Division, a post he will continue to hold.
Mr. Cuaresma has over 25 years of experience in the audit of local and multinational companies from various industries, and he spent one year in the US with a leading international firm as part of P&A’s global exchange program.
He obtained a Master of Management degree from the Asian Institute of Management and completed the Pacific Rim Bankers Program at University of Washington, Seattle, USA.
(As published in BusinessWorld, 4 July 2012. This press release also appeared in the Philippine Daily Inquirer on 9 July 2012.)