December 24, 2024 | 12:00am
MANILA, Philippines — GT Capital Holdings Inc., the listed holding company of the Ty Group, is ushering in the New Year with key leadership role changes in its property arm Federal Land Inc.
Federal Land will see Jose Mari Banzon, the company’s current finance director, as its new president effective Jan. 1.
Federal Land and Federal Land NRE Global (FNG) president William Thomas Mirasol, meanwhile, will be promoted to the role of vice-chairman of the property company.
Mirasol will keep his role as president of FNG, Federal Land’s joint venture with Nomura Real Estate Development Co. Ltd. of Japan.
“GT Capital welcomes these leadership changes in Federal Land and FNG as the holding company enters the New Year with optimism for sustained growth,” the conglomerate said.
GT Capital said that Mirasol and Banzon are expected to usher in a new generation of property development products and services that align with the group’s mission of value creation that meets the evolving needs of its stakeholders.
Mirasol joined Federal Land in 2019 and has since played a significant role in the company.
With over three decades of real estate management experience, he has driven the growth of Federal Land and solidified its position as a multi award-winning property company.
GT Capital said Mirasol would continue to oversee Federal Land’s strategic international partnerships and joint ventures with leading global brands and corporations.
Banzon, meanwhile, served as executive vice president and general manager of Federal Land from 2006 to 2013.
He joined SM Prime Holdings Inc. in 2013 and was appointed president of SM Development Corp. (SMDC) in 2020.
GT Capital said that Banzon was responsible for expanding SMDC’s portfolio into new formats and markets.
In 2024, he rejoined Federal Land. “GT Capital is looking forward to working closely with both Mirasol and Banzon. In their new leadership roles, they will define the next stage of growth for both Federal Land and FNG,” the conglomerate said.
Aside from property development, GT Capital has interests in market-leading businesses across banking, automotive assembly, importation, dealership, financing, life and general insurance and infrastructure.
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