President Rodrigo Duterte (File photo) MANILA - President Rodrigo R. Duterte has signed into law a measure amending the Foreign Investment Act (FIA) to make the Philippines more accessible to foreign investors. Signed by Duterte on March 2 and released on Friday, Republic Act (RA) 11647 amends RA 7042 or the Foreign Investments Act of 1991. The new law allows qualified non-Philippine nationals to do business in the country or invest in a domestic enterprise up to 100 percent of its capital and liberalizes the practice of professions not governed by existing special laws. The law also allows foreign investors to set up 100 percent ownership of all small- and medium-sized enterprises. Albay Rep. Joey Salceda, who was a principal author of the House version, said the law could boost the country's bid to be "a leading startup hub in Southeast Asia", especially for tech and other companies seeking to solve long standing problems in financial inclusion, agricultural productivit
Katie Keir
The leadership team at TD Wealth Management and Insurance is getting a shakeup, effective June 14.
Dave Kelly, who’s been senior vice-president and head of TD Wealth Private Wealth Management (TD Wealth PWM) and TD Wealth Financial Planning since 2019, has announced he’s stepping down.
An internal memo from Leo Salom, group head of TD Wealth Management and Insurance, said Kelly “has made the personal decision to leave TD to pursue his entrepreneurial ambitions,” though he will remain active until the end of September to guide the transition and protect “critical client relationships.”
Kelly will be replaced by Paul Clark, who’s worked at the bank for more than 30 years and is currently executive vice-president of Direct Investing, Wealth Delivery, at TD Wealth. The memo said Clark will lead both the wealth advice businesses and assume the title of CEO of TD Waterhouse.