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.
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'Squid Game' Season 2 perfectly mirrors our moment
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