DAVID L. BALANGUE, an accounting and auditing veteran and former Securities and Exchange Commission (SEC) commissioner, has passed away on April 29, Monday.
Former Finance Secretary Cesar Antonio V. Purisima made the announcement through a social media post yesterday, praising him for his work at auditing firm Sycip Gorres Velayo & Co. (SGV). Mr. Balangue was 67.
“Dave was an SGV lifer and was one of the most intelligent and hardest working colleague I worked with at SGV. He was humble, down to earth, funny and witty. He rose from very humble beginnings to the top of his profession. He was a very loyal friend,” Mr. Purisima said in a Facebook post.
Mr. Balangue served as SGV’s chairman from 2004 to 2009. His career at SGV spanned 38 years, having risen from the ranks since he entered the firm in 1982.
He was appointed SEC commissioner in 2012 by then President Benigno Simeon C. Aquino III.
Mr. Balangue was previously an independent director on the board of several companies, including Roxas Holdings, Inc., Phinma Energy Corp., Holcim Philippines, Inc., Manulife Financial Plans, Inc., and Philippine Bank of Communications. He resigned from the companies’ boards last February.
He was the past president of the Philippine Institute of CPAs, Management Association of the Philippines, Financial Executives Institute and The Manila Polo Club, Inc.
Mr. Balangue graduated magna cum laude with a Bachelor of Science in Commerce from the Manuel L. Quezon University in 1971. He also holds a Master in Management degree from the Graduate School of Management of Northwestern University in Illinois. He placed second highest in the 1972 Philippine CPA Board Examinations.
Mr. Balangue’s remains are in Chapel 8, Heritage Park in Taguig City. Viewing will be allowed until May 1, 3 p.m. — Arra B. Francia
