Ex-DBP chair Philip Lo named presidential adviser for Visayas

MANILA, Philippines — President Ferdinand Marcos Jr. has appointed Cebuano businessman and former Development Bank of the Philippines (DBP) chair Philip Lo as the new presidential assistant for the Visayas.

Palace Press Officer Claire Castro announced the appointment on Wednesday, when Lo is also expected to take his oath of office before Marcos in Malacañang.

Before his designation to the presidential post with the rank of Cabinet secretary, Lo was appointed chair of the board of directors of the state-owned DBP in 2024, replacing former Supreme Court Associate Justice Dante Tinga. He has served as a DBP board director since 2022.

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Based on a report by the Philippine Center for Investigative Journalism, Lo was the third-biggest donor to Marcos’ campaign, contributing P25 million to bankroll Marcos’ bid.

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Lo has held various leadership roles during his decades of service in both the public and private sectors.

He was a director of both the Philippine Amusement and Gaming Corp. from 2002 to 2010 and Cocogen Insurance Inc. (formerly UCPB General Insurance).

In the private sector, he is the chair of Coast Pacific Group of Companies and Toyota Mabolo Cebu, Inc.

READ: BIZ BUZZ: Major revamp at DBP

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The Office of the Presidential Assistant for the Visayas has been without a head since June 2025 following the resignation of Cebu-based businessman Terence Calatrava during the reorganization implemented by Marcos after the 2025 midterm elections.

Malacañang said Calatrava “did not meet the expected standards of performance.”

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During a Senate hearing in September 2025, contractor Pacifico “Curlee” Discaya said Calatrava was among the individuals who received a percentage from infrastructure projects awarded to their companies.

Discaya and his wife, Sarah, own two of the 15 construction firms that secured the most flood control projects from the government from 2022 to 2025.

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The Philippine Contractors Accreditation Board revoked the licenses of nine companies owned or controlled by the Discayas, barring them from participating in any bidding for government infrastructure projects. /mcm