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Banker Emmanuel Ledesma is new PSALM president

The Energy Department announced on Monday the appointment of investment banker Emmanuel R. Ledesma Jr. as president of state-run Power Sector Assets and Liabilities Management Corp. (PSALM) Ledesma, who finished his Masters of Business Administration at the J. J. Kellogg Graduate School of Management at Northwestern University in Illinois, has been in the banking industry for more than 20 years. He replaced PSALM acting president Luz Caminero. Before this first post in government service, Ledesma served as managing director and country head of the Royal Bank of Canada. With the appointment of Ledesma, Energy Secretary Jose Rene Almendras formed a technical working group to review and enhance existing department policies. The group will review pressing matters that need to be addressed within the energy field, including the impact of certain movements of consumer demands, Almendras said. He said one of the goals of the group is to obtain the lowest possible universal charge that can be passed on to electricity consumers. —JE/VS, GMANews.TV