TY-LED GT Capital Holdings, Inc. announced leadership changes at its real estate unit Federal Land, Inc. and its joint venture Federal Land NRE Global, Inc. (FNG), as it charts its growth plans.

William Thomas F. Mirasol has been named Federal Land vice-chairman effective Jan. 1, 2025, concurrent with his role as FNG president, GT Capital said in an e-mailed statement on Monday.

Mr. Mirasol is the president of Federal Land.

FNG is a joint venture of Federal Land and Japan’s Nomura Real Estate Development Co. Ltd.

“Mr. Mirasol will continue to oversee Federal Land’s strategic international partnerships and joint ventures with leading global brands and corporations,” GT Capital said.

GT Capital also announced the appointment of Jose Mari H. Banzon as Federal Land president, succeeding Mr. Mirasol, effective Jan. 1, 2025.

Mr. Banzon serves as Federal Land’s finance director.

“GT Capital is looking forward to working closely with both Mr. Mirasol and Mr. Banzon,” the group said. “In their new leadership roles, they will define the next stage of growth for both Federal Land and FNG, and usher in a new generation of property development products and services that align with GT Capital’s mission of value creation to meet the evolving needs of its stakeholders.”

Mr. Mirasol joined Federal Land in 2019. He has more than three decades of real estate management experience.

Mr. Banzon served as Federal Land executive vice-president and general manager from January 2006 to 2013.

He then joined SM Prime Holdings, Inc. in 2013 and was appointed SM Development Corp. president in February 2020. He returned to Federal Land this year.

GT Capital has business interests in banking, automotive assembly, importation, dealership and financing, property development, life and general insurance and infrastructure.

Its core operating companies are Metropolitan Bank & Trust Co., Toyota Motor Philippines Corp., Federal Land, AXA Philippines Life and General Insurance Corp. and Metro Pacific Investments Corp. (MPIC).

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority share in BusinessWorld through the Philippine Star Group, which it controls.

GT Capital shares rose 5.42% or P33 to P642 each. — Revin Mikhael D. Ochave